Lyra Therapeutics, Inc. Announces Intention to Voluntarily File Form 25 for Delisting from Nasdaq and Subsequent Deregistration with the SEC

Lyra Therapeutics (NASDAQ:LYRA) intends to voluntarily file a Form 25 with the SEC on April 20, 2026 to remove its common stock from Nasdaq following a Nasdaq trading suspension on March 17, 2026.

Rhea-AI Summary

Lyra Therapeutics (NASDAQ:LYRA) intends to voluntarily file a Form 25 with the SEC on April 20, 2026 to remove its common stock from Nasdaq following a Nasdaq trading suspension on March 17, 2026.

The delisting is expected to become effective 10 days after filing; the company plans to file a Form 15 thereafter to terminate registration under Section 12(g) and suspend reporting under Section 15(d). The common stock is currently quoted on the Pink Limited Market.

Positive

• Form 25 filing scheduled for April 20, 2026
• Delisting effective 10 days after Form 25 is filed

Negative

• Nasdaq trading suspended March 17, 2026
• Removal from Nasdaq listing and consequent lower visibility
• SEC registration termination planned via Form 15, suspending reporting obligations

Argus Apr 17 session

+21.91% close to close 5.4x rel. volume Open Argus

Details

News Market Reaction – LYRA

On Apr 17, the day this news came out, LYRA closed 21.91% above the previous close. That session’s volume was 5.4x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Apr 17 session.

Key Figures

Form 25 filing date: April 20, 2026 Delisting effective window: 10 days Current stock price: $0.66 +5 more

Form 25 filing date

April 20, 2026

Planned Nasdaq delisting filing with SEC

Delisting effective window

10 days

Expected time after Form 25 filing for delisting effectiveness

Current stock price

$0.66

Pre-news price relative to 52-week range

52-week high

$37.50

Indicates severe drawdown from prior levels

52-week low

$0.31

Trading above but near lows before delisting news

Market cap

$2,342,844

Equity value before voluntary delisting announcement

Today’s volume

5,596 shares

About 52% of 20-day average volume pre-announcement

20-day avg volume

10,692 shares

Benchmark for typical trading activity

Historical Context

2 past events · Latest: Jan 12

2 events

1. Jan 12

   Corporate restructuring

   24h Move

   -45.3%

   Suspended LYR-210 development and ceased product operations with workforce cuts.

2. Nov 12

   Earnings and update

   24h Move

   -1.6%

   Reported Q3 2025 loss and limited cash runway despite positive trial data.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

form 25, nasdaq, pink limited market, rule 12d2-2(c), +4 more

8 terms

form 25 regulatory

"intention to voluntarily file a Form 25 Notification of Delisting with the U.S."

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

nasdaq financial

"remove its common stock from listing and registration on The Nasdaq Stock Market LLC"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

View in glossary

pink limited market financial

"The Company’s common stock is currently quoted on the Pink Limited Market."

A pink limited market is a segment of the stock market where shares of smaller or newer companies are traded, often with fewer regulations and less oversight than larger markets. It matters to investors because these markets can offer opportunities for growth but also carry higher risks due to less transparency and stability, similar to a marketplace where products are less tested and might be more uncertain.

rule 12d2-2(c) regulatory

"This press release is being issued in compliance with Rule 12d2-2(c) under the"

Rule 12d2-2(c) is an SEC rule under the Investment Company Act that spells out conditions allowing one registered investment company or business development company to acquire securities of another beyond the usual statutory limits when specific safeguards are met. It matters to investors because it governs when fund managers can combine or layer funds, affecting diversification, liquidity and fee structures — like rules that let two businesses merge activities while requiring protections to limit added risk.

exchange act regulatory

"under the Securities Exchange Act of 1934, as amended (the "Exchange Act")."

A federal law that sets rules for trading securities on public exchanges, requiring companies and market participants to register, disclose regular financial information, and follow standards that promote honest, orderly markets. For investors, it matters because it creates transparency and legal protections—like stopping insider trading and ensuring timely company disclosures—so you can evaluate risks and rely on consistent rules much as players rely on a referee to keep a game fair.

form 15 regulatory

"the Company intends to file a Form 15 with the SEC to terminate the registration"

A Form 15 is a short filing a public company uses with the U.S. Securities and Exchange Commission to stop or pause its routine public reporting requirements when it meets certain legal thresholds (such as a low number of public shareholders) or other qualifying conditions. Investors should care because filing one typically means less public financial information and lower trading liquidity—similar to a shop taking down its public notice board, making it harder to track performance and buy or sell shares.

section 12(g) regulatory

"terminate the registration of its common stock under Section 12(g) of the Exchange"

Section 12(g) is a rule that requires companies to register with the government and share their financial details when they have a certain number of shareholders or assets. It matters because it makes these companies more transparent, helping investors make informed decisions and keeping the markets fair.

section 15(d) regulatory

"to suspend its reporting obligations under Section 15(d) of the Exchange Act."

Section 15(d) is a U.S. securities law rule that can require a company to keep filing regular public financial reports with regulators after it sells stock in certain offerings, even if it otherwise would stop reporting. Think of it like a store that must continue posting its receipts so buyers can check its health; for investors, it preserves ongoing disclosure and helps them track a company’s finances and risks that might affect the stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WATERTOWN, Mass., April 17, 2026 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (the "Company") today announced its intention to voluntarily file a Form 25 Notification of Delisting with the U.S. Securities and Exchange Commission (the "SEC") on Monday, April 20, 2026, to remove its common stock from listing and registration on The Nasdaq Stock Market LLC ("Nasdaq"). As previously disclosed, trading in the Company's common stock was suspended by Nasdaq on March 17, 2026. Although Nasdaq has indicated it intends to file its own Form 25 after all internal procedural periods have run, it has not yet done so. The Company is therefore voluntarily filing Form 25 in order to proceed with deregistration. The Company’s common stock is currently quoted on the Pink Limited Market. This press release is being issued in compliance with Rule 12d2-2(c) under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The delisting is expected to become effective 10 days after Form 25 is filed with the SEC. Following the effective date, the Company intends to file a Form 15 with the SEC to terminate the registration of its common stock under Section 12(g) of the Exchange Act and to suspend its reporting obligations under Section 15(d) of the Exchange Act.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company's intention to file Form 25 and the expected timing thereof, the anticipated effectiveness of the delisting, the Company's plans to file a Form 15 to terminate registration and suspend reporting obligations, and the expected suspension and termination of periodic reporting requirements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements are discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in other filings the Company makes with the SEC from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Contact:

Jason Cavalier
jcavalier@lyratx.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Lyra Therapeutics (LYRA) announce on April 17, 2026 about Nasdaq listing?

They announced intention to file Form 25 on April 20, 2026 to remove LYRA from Nasdaq. According to the company, the move follows Nasdaq's suspension of trading on March 17, 2026 and aims to proceed with deregistration.

When will LYRA's delisting from Nasdaq become effective after the Form 25 filing?

The delisting is expected to become effective 10 days after Form 25 is filed. According to the company, this timeline reflects the statutory notice period following the filing with the SEC.

Where will LYRA common stock trade after removal from Nasdaq?

LYRA common stock is currently quoted on the Pink Limited Market and will remain there after delisting. According to the company, the Pink market will provide a quotation post-deregistration.

What will filing a Form 15 mean for LYRA shareholders and reporting?

Filing Form 15 will terminate LYRA's registration under Section 12(g) and suspend reporting under Section 15(d). According to the company, this will end its periodic SEC reporting obligations after the Form 25 effective date.

Why is Lyra voluntarily filing Form 25 instead of waiting for Nasdaq?

The company is voluntarily filing Form 25 because Nasdaq has not yet filed its own Form 25 after internal procedures. According to the company, voluntary filing allows the deregistration process to proceed.