Lyra Therapeutics (NASDAQ: LYRA) pays $2.1M to exit Waltham lease

Rhea-AI Filing Summary

Lyra Therapeutics, Inc. has terminated its sublease for approximately 23,704 rentable square feet at 880 Winter Street in Waltham, Massachusetts. The sublease, originally dated December 21, 2023, terminated effective March 31, 2026, with the premises to be surrendered no later than May 31, 2026.

As part of the termination, Lyra agreed to pay a termination payment of $2,100,000.00. After Lyra completes its surrender obligations and this payment is made, RVAC Medicines (US), Inc. will release and return Lyra’s $600,501.32 letter of credit security deposit. The company’s rent obligations under the sublease ended on January 31, 2026.

8-K Event Classification

Item 1.02 — Termination of a Material Definitive Agreement

1 item

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Key Figures

Termination payment: $2,100,000.00 Security deposit: $600,501.32 Premises size: 23,704 rentable square feet +3 more

6 metrics

Termination payment $2,100,000.00 Paid by Lyra to terminate 880 Winter Street sublease

Security deposit $600,501.32 Letter of credit to be returned after surrender and payment

Premises size 23,704 rentable square feet Subleased space at 880 Winter Street, Waltham, Massachusetts

Rent obligations end date January 31, 2026 Date Lyra’s rent obligations under the sublease terminated

Sublease termination effective date March 31, 2026 Effective termination date of the 880 Winter Street sublease

Surrender deadline May 31, 2026 Latest date by which Lyra must surrender the premises

Key Terms

Termination of a Material Definitive Agreement, Termination of Sublease, letter of credit security deposit

3 terms

Termination of a Material Definitive Agreement regulatory

"Item 1.02 Termination of a Material Definitive Agreement."

Termination of Sublease financial

"entered into a Termination of Sublease with RVAC Medicines (US), Inc."

letter of credit security deposit financial

"RVAC will release and return the Company’s $600,501.32 letter of credit security deposit."

Understanding 8-K Material Events →

NASDAQ false 0001327273 0001327273 2026-04-13 2026-04-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 13, 2026

Lyra Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-39273		84-1700838
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

480 Arsenal Way
Watertown, Massachusetts		02472
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 617 393-4600

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		LYRA		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.02 Termination of a Material Definitive Agreement.

Termination of 880 Winter Street Sublease (Waltham, Massachusetts)

On April 13, 2026, Lyra Therapeutics, Inc. (the “Company”) entered into a Termination of Sublease with RVAC Medicines (US), Inc. to terminate the Company’s sublease for approximately 23,704 rentable square feet at 880 Winter Street, Waltham, Massachusetts. The sublease, dated December 21, 2023, terminated effective as of March 31, 2026, with the Company required to surrender the premises no later than May 31, 2026.

As consideration, the Company agreed to pay a termination payment of $2,100,000.00. Upon the Company’s completion of its surrender obligations and receipt of the termination payment, RVAC will release and return the Company’s $600,501.32 letter of credit security deposit. The Company’s rent obligations terminated as of January 31, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						Lyra Therapeutics, Inc.
Date: April 17, 2026				By:		/s/ Jason Cavalier
						Jason Cavalier, Authorized Signatory

FAQ

What agreement did Lyra Therapeutics (LYRA) terminate in this 8-K?

Lyra Therapeutics terminated its sublease for approximately 23,704 rentable square feet at 880 Winter Street in Waltham, Massachusetts. The sublease, originally dated December 21, 2023, was ended through a termination agreement with RVAC Medicines (US), Inc. effective March 31, 2026.

How much is Lyra Therapeutics (LYRA) paying to exit the Waltham sublease?

Lyra Therapeutics agreed to pay a termination payment of $2,100,000.00 to end the sublease. This payment is part of a negotiated termination arrangement and is tied to Lyra completing its surrender obligations for the 880 Winter Street premises in Waltham, Massachusetts.

What happens to Lyra Therapeutics’ $600,501.32 security deposit under the sublease?

Once Lyra completes its surrender obligations and the $2,100,000.00 termination payment is made, RVAC Medicines (US), Inc. will release and return Lyra’s $600,501.32 letter of credit security deposit. This return is specifically conditioned on performance of the agreed termination steps.

When did Lyra Therapeutics’ rent obligations under the sublease end?

Lyra Therapeutics’ rent obligations under the 880 Winter Street sublease terminated as of January 31, 2026. Although the sublease itself was terminated effective March 31, 2026, the company is required to fully surrender the premises no later than May 31, 2026.

By what date must Lyra Therapeutics vacate the 880 Winter Street premises?

Under the termination agreement, Lyra Therapeutics must surrender the approximately 23,704 rentable square feet at 880 Winter Street by May 31, 2026. This surrender date follows the effective termination date of March 31, 2026, and precedes the release of the security deposit.

Who is Lyra Therapeutics’ counterparty in the sublease termination?

Lyra Therapeutics entered into the termination agreement with RVAC Medicines (US), Inc., its sublandlord for the 880 Winter Street space. RVAC is responsible for returning Lyra’s $600,501.32 letter of credit security deposit after Lyra fulfills its surrender and payment obligations.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB