Core Viewpoint - Lyra Therapeutics is implementing significant workforce reductions and cost-cutting measures to extend its cash runway and focus on ongoing clinical trials for its product LYR-210, a treatment for chronic rhinosinusitis (CRS) [1][3][4]. Group 1: Workforce and Cost-Cutting Measures - The company is laying off approximately 75% of its workforce, affecting 87 employees, and has halted manufacturing and commercialization efforts [1][3]. - Lyra Therapeutics is seeking to sublease its facilities to significantly reduce operating costs and has paused efforts for another product candidate, LYR-220 [3][4]. - These measures are expected to extend the company's cash runway into 2026, with approximately $87.1 million in cash, cash equivalents, and short-term investments as of March 31, 2024 [3]. Group 2: Clinical Trials Focus - Lyra is concentrating on two ongoing ENLIGHTEN Phase 3 trials for LYR-210, which is a bioabsorbable sinonasal implant for CRS treatment [2][5]. - The ENLIGHTEN 1 trial did not meet its 24-week primary endpoint, and the company is analyzing this data to inform the completion of the 52-week extension phase, with results expected in Q4 2024 [2][5]. - The ENLIGHTEN program includes two randomized, blinded, sham-controlled trials designed to evaluate the efficacy and safety of LYR-210 in 180 CRS patients who have failed medical management [5][6]. Group 3: Product Information - LYR-210 is designed to deliver six months of continuous anti-inflammatory medication (7500µg mometasone furoate) to treat CRS, which affects up to four million patients annually in the U.S. [7][9]. - The product is intended for patients who have not undergone ethmoid sinus surgery, while LYR-220 is designed for those with enlarged nasal cavities due to previous surgeries [9].

WATERTOWN, Mass., May 21, 2024 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (Nasdaq: LYRA) ("Lyra" or the "Company"), today announced that it is advancing its goal to preserve capital by implementing a layoff of approximately 75% of its workforce, in addition to other cost-cutting measures. In the near term, Lyra Therapeutics will focus on the two ongoing ENLIGHTEN Phase 3 trials evaluating LYR- 210, a bioabsorbable sinonasal implant for the treatment of chronic rhinosinusitis (CRS). Lyra continues to analyz ...

Lyra Therapeutics, Inc. (LYRA) came out with a quarterly loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -34.62%. A quarter ago, it was expected that this company would post a loss of $0.33 per share when it actually produced a loss of $0.22, delivering a surprise of 33.33%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39273 Lyra Therapeutics, Inc. | Large accelerated filer | ☐ | Accelerated filer | ☐ | | - ...

Lyra Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update WATERTOWN, Mass., April 30, 2024 -- Lyra Therapeutics, Inc. (Nasdaq: LYRA) ("Lyra" or the "Company"), a clinical-stage biotechnology company developing long-acting, anti-inflammatory sinonasal implants for the treatment of chronic rhinosinusitis (CRS), today reported its financial results for the first quarter ended March 31, 2024 and provided a corporate update. "With results imminent for our ENLIGHTEN 1 pivotal Ph ...

WATERTOWN, Mass., April 26, 2024 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (NASDAQ:LYRA) (the "Company" or "Lyra"), a clinical-stage biotech developing long-acting, anti-inflammatory sinonasal implants for the treatment of chronic rhinosinusitis (CRS), today announced that it has granted non-qualified stock options to purchase a total of 78,400 shares of Lyra Therapeutics common stock to 16 new non-executive employees as an inducement material to their acceptance of employment with Lyra Therapeutics. The ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39273 c Lyra Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 84-1700838 (State or other jurisdicti ...

Lyra Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update -- Data from ENLIGHTEN I Pivotal Phase 3 Trial of LYR-210 in Chronic Rhinosinusitis (CRS) Anticipated Q2 2024 -- WATERTOWN, Mass., March 21, 2024 -- Lyra Therapeutics, Inc. (Nasdaq: LYRA) ("Lyra" or the "Company"), a clinical-stage biotechnology company developing long-acting, anti-inflammatory nasal inserts for the treatment of chronic rhinosinusitis (CRS), today reported its financial results for th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ 480 Arsenal Way Watertown, MA 02472 (I.R.S. Employer Identification No.) (Address of principal executive offices) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Exact Name of Registrant as Specified in its Charter) Delaware 84-1700838 (State or other jurisdiction of incorporation or organization) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ...