Lyra Therapeutics(US:LYRA) Globenewswireยท2025-11-12 21:01Core Insights - Company plans to initiate a new confirmatory Phase 3 clinical trial for LYR-210 aimed at treating chronic rhinosinusitis (CRS) without nasal polyps, progressing towards a New Drug Application (NDA) submission [1][2] Recent Business Highlights - The company is focused on establishing components for the new Phase 3 clinical trial to advance LYR-210 as a treatment option for CRS patients who do not respond to current therapies [2] - LYR-210 is designed to provide six months of continuous anti-inflammatory therapy for CRS patients [15][16] Financial Highlights - As of September 30, 2025, cash and cash equivalents were $22.1 million, down from $40.6 million at December 31, 2024, with expectations to fund operations into the third quarter of 2026 [4] - Research and development expenses decreased by $1.9 million to $4.0 million for Q3 2025 compared to Q3 2024, primarily due to reduced clinical costs after completing the ENLIGHTEN 2 trial [5][6] - General and administrative expenses also decreased by $1.7 million to $2.2 million for Q3 2025 compared to Q3 2024, driven by lower employee-related costs [7][8] - The net loss for Q3 2025 was $6.0 million, a reduction from $11.9 million in Q3 2024 [9] Clinical Development - The company has established a clinical development plan for an additional trial to support the NDA submission for LYR-210, following positive results from the ENLIGHTEN 2 Phase 3 trial presented at a major medical conference [11]