Welcome to our dedicated page for Lyra Therapeutics news (Ticker: LYRA), a resource for investors and traders seeking the latest updates and insights on Lyra Therapeutics stock.
Lyra Therapeutics, Inc. (LYRA) is a clinical-stage biotechnology company pioneering targeted therapies for chronic ear, nose, and throat conditions. This dedicated news hub provides investors and healthcare professionals with essential updates on the company's innovative drug-delivery platforms and clinical progress.
Access timely reports on LYRA's XTREO technology advancements, regulatory milestones, and research collaborations. Our curated collection features press releases covering clinical trial outcomes, product development updates, and strategic partnerships in the ENT therapeutics space.
Key content includes analyses of the company's bioresorbable matrix systems, progress in chronic rhinosinusitis treatment development, and financial performance updates. Bookmark this page for streamlined tracking of LYRA's mission to transform localized drug delivery in otolaryngology.
Lyra Therapeutics reported its Q4 and full year 2024 financial results, highlighting the upcoming ENLIGHTEN 2 Phase 3 trial results expected in Q2 2025. The company reported encouraging post-hoc data from the ENLIGHTEN 1 Extension Study in CRS patients with nasal polyps, showing improvements in symptoms and polyp size at 52 weeks.
Financial highlights include cash position of $40.6 million as of December 31, 2024, expected to fund operations into Q1 2026. R&D expenses decreased to $43.8 million in 2024 from $48.0 million in 2023. Net loss for 2024 was $93.4 million compared to $62.7 million in 2023.
The company plans a reverse stock split to maintain Nasdaq listing compliance. FDA discussions have provided clarity on the potential path forward for LYR-210 in CRS with nasal polyps, with alignment on various elements of a potential Phase 3 pivotal study.
Incendia Therapeutics has appointed Bradford Smith as Chief Financial Officer. Smith brings over 30 years of strategic and operational leadership experience in healthcare companies, having previously served as CFO at companies including Homology Medicines, Ocular Therapeutix, and NeuroMetrix. Throughout his career, Smith has raised more than $1 billion in financing. He currently serves as board member and Audit Committee Chair for Lyra Therapeutics and eGenesis. In his new role, Smith will oversee all financial functions, including equity financing, investor relations, and business development, reporting directly to CEO Dr. Wendye Robbins.
Lyra Therapeutics reported Q3 2024 financial results and provided updates on its ENLIGHTEN clinical program for LYR-210 in chronic rhinosinusitis (CRS) treatment. The company reported topline 52-week safety data from ENLIGHTEN 1 extension study showing no product-related serious adverse events. Cash position stands at $51.6M as of September 30, 2024. R&D expenses decreased to $5.9M from $12.4M year-over-year, while G&A expenses reduced to $3.9M from $5.0M. Net loss was $11.9M compared to $15.7M in Q3 2023. The company expects topline results from ENLIGHTEN 2 pivotal trial in Q2 2025.
Lyra Therapeutics (Nasdaq: LYRA) has announced full enrollment for its pivotal Phase 3 ENLIGHTEN 2 clinical trial of LYR-210, a treatment for chronic rhinosinusitis (CRS) in adult patients without prior ethmoid sinus surgery. LYR-210 is a bioresorbable nasal implant designed to deliver six months of continuous anti-inflammatory medication (mometasone furoate) to sinonasal passages.
The company expects to report topline results in Q2 2025. This trial is the second of two pivotal studies for LYR-210 in CRS patients. Dr. Maria Palasis, President and CEO of Lyra Therapeutics, expressed gratitude to the participants and investigators involved in the ENLIGHTEN studies, emphasizing the potential benefit of their technology for CRS patients.
Lyra Therapeutics (Nasdaq: LYRA) announced upcoming presentations of study results for its chronic rhinosinusitis (CRS) treatments at two major medical conferences. The company will present:
1. Results from the Phase 3 ENLIGHTEN 1 study for LYR-210 at the 70th Annual Meeting of the American Rhinologic Society (ARS) on September 27-28 in Miami.
2. Additional results from the Phase 2 BEACON study for LYR-220 at the Annual Meeting of the American Academy of Otolaryngology–Head and Neck Surgery (AAO-HNS) on September 28 - October 1 in Miami.
The LYR-210 presentation will be a poster session on September 27th, while the LYR-220 presentation will be an oral presentation on September 29th, focusing on improvements in smell and sleep for CRS patients.
Lyra Therapeutics (NASDAQ: LYRA) reported Q2 2024 financial results and provided a corporate update. Key points include:
1. Primary focus on ENLIGHTEN 1 Phase 3 extension study results expected in Q4 2024 and ENLIGHTEN 2 pivotal Phase 3 trial results in 1H 2025.
2. Further analysis of ENLIGHTEN 1 data showed LYR-210 improved symptomatic endpoints in CRS patients with nasal polyps.
3. Q2 2024 financial highlights: $67.5 million in cash and equivalents, $13.3 million in R&D expenses, and $5.1 million in G&A expenses.
4. Net loss for Q2 2024 was $48.1 million, compared to $15.6 million in Q2 2023.
5. Cost-cutting measures implemented, including a 75% workforce reduction and pausing LYR-220 development.
Lyra Therapeutics (Nasdaq: LYRA) announced significant cost-cutting measures, including laying off 75% of its workforce and pausing the manufacturing and commercialization efforts. The company will focus on its ENLIGHTEN Phase 3 trials evaluating LYR-210 for chronic rhinosinusitis. The ENLIGHTEN 1 trial did not meet its 24-week primary endpoint, but data from the 52-week extension phase is expected in Q4 2024. Lyra had $87.1 million in cash and equivalents as of March 31, 2024, and aims to extend its cash runway into 2026. The company is also pausing efforts on LYR-220 and seeks to sublease its facilities. Lyra plans to evaluate strategic options to maximize shareholder value but offers no assurance on any resulting transactions.
Lyra Therapeutics announced the topline results from its Phase 3 ENLIGHTEN 1 trial for the treatment of chronic rhinosinusitis (CRS) with LYR-210. Unfortunately, the trial did not meet its primary endpoint, showing no significant improvement compared to the sham control in the composite score of CRS symptoms. The company plans to evaluate the full dataset to determine the next steps.
Lyra Therapeutics, a biotechnology company, reported its financial results for Q1 2024 and provided an update on its clinical-stage product candidates LYR-210 and LYR-220 for treating chronic rhinosinusitis. LYR-210's Phase 3 results are expected in May, aiming to revolutionize CRS treatment. LYR-220's Phase 2 trial data will be presented in May 2024.
Financially, the company's cash balance decreased to $87.1 million. Research and development expenses increased to $18.2 million, while general and administrative expenses rose to $5.8 million. The net loss for Q1 2024 was $22.5 million.
Lyra Therapeutics, a clinical-stage biotech company, has granted non-qualified stock options to new non-executive employees as inducement awards. The options allow the purchase of 78,400 shares of Lyra Therapeutics common stock, with a ten-year term and an exercise price of $4.72 per share. Vests over a four-year period, subject to continued service.
