Nyrada (ASX:NYR) submitted its phase IA first-in-healthy human volunteer clinical trial regulatory package of drug candidate NYR-BI03 for Human Research Ethics Committee review, according to a Tuesday filing with the Australian bourse.

The biotechnology company is developing NYR-BI03 for the potential treatment of stroke and traumatic brain injury, the filing said.

The review, scheduled for January 2025, will allow for the start of volunteer recruitment for the trial, according to the filing.

Shares rose past 2% in afternoon trade Tuesday.