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, Inc. (NASDAQ: LYRA) announced the treatment of the first patient in the Phase 2 BEACON trial for LYR-220, addressing chronic rhinosinusitis (CRS) in adults with prior sinus surgery. LYR-220 aims to provide continuous anti-inflammatory therapy via a non-invasive procedure, potentially benefiting a significant patient population. Topline results from Part 1 are anticipated by year-end. The trial's design is a controlled parallel study assessing safety, tolerability, and efficacy over 24 weeks, involving around 70 CRS patients. This marks a critical milestone in Lyra's development of solutions for CRS.
Lyra Therapeutics, Inc. (NASDAQ: LYRA) announced that two clinical abstracts related to LYR-210 in chronic rhinosinusitis (CRS) have been selected for podium presentations at the 2022 Combined Otolaryngology Spring Meetings (COSM) in Dallas, Texas. The presentations will focus on the symptomatic improvement and quality of life in CRS patients treated with LYR-210. The company is advancing its XTreo™ platform to deliver medications effectively to the ear, nose, and throat, targeting the estimated four million CRS patients in the U.S.
Lyra Therapeutics, Inc. (Nasdaq: LYRA) has completed a private placement of common stock, raising approximately $100.5 million. The proceeds will support ongoing clinical development of its products LYR-210 and LYR-220, aimed at treating chronic rhinosinusitis. This financing extends Lyra's cash runway into mid-2024, enabling pivotal data readouts. The private placement drew participation from both new and existing healthcare investors. As of the end of 2021, Lyra had $45.7 million in cash, which combined with new funding and expected milestone payments, will sustain operations comfortably.
Lyra Therapeutics, Inc. (Nasdaq: LYRA) announced a private placement to raise approximately $100.5 million, set to close on April 12, 2022. Investors can purchase shares of common stock at $4.22 per share or pre-funded warrants at $4.219 per share. A total of 18,815,159 shares and 5,000,000 pre-funded warrants are being sold. The transaction is exempt from public offering requirements and will not be registered under the Securities Act. This funding aims to bolster the company's financial standing and support ongoing projects.
Lyra Therapeutics, Inc. (Nasdaq: LYRA) reported its financial results for Q4 2021, highlighting significant advancements in its clinical programs for chronic rhinosinusitis (CRS). The pivotal Phase 3 ENLIGHTEN I trial for LYR-210 has commenced with the first patient treated, and the Phase 2 BEACON study for LYR-220 is underway. Financially, cash and equivalents stood at $45.7 million at year-end 2021, down from $58.1 million in Q3 2021. R&D expenses increased to $10.3 million in Q4, reflecting heightened clinical activities. The net loss for Q4 was $13.6 million, compared to $7.0 million in the previous year.
Lyra Therapeutics, Inc. (Nasdaq: LYRA) announced the appointment of Jim Tobin to its Board of Directors on March 7, 2022. With extensive experience leading public biopharmaceutical and medical device companies, including Boston Scientific and Biogen, Tobin's insights are expected to propel Lyra's clinical development of its pipeline candidates, LYR-210 and LYR-220, designed for chronic rhinosinusitis (CRS) treatment. The company's proprietary XTreo™ platform aims to deliver medications locally to target tissues, potentially benefiting millions of CRS patients.
Lyra Therapeutics (Nasdaq: LYRA) has initiated the Phase 3 ENLIGHTEN I clinical trial for its investigational product LYR-210, targeting adult patients with chronic rhinosinusitis (CRS) who have not responded to standard treatments. The trial will enroll 180 patients, comparing LYR-210's efficacy against a control group, with a primary endpoint focused on symptom relief over 24 weeks. Following treatment, control participants will be offered LYR-210 in a crossover extension. LYR-210 aims to provide a non-invasive alternative to surgery, potentially benefiting millions of CRS patients.
Lyra Therapeutics has appointed Harlan W. Waksal as Executive Chairman, effective immediately. Dr. Waksal brings over 30 years of experience in scientific and clinical development, previously serving as President and CEO of Kadmon Holdings before its acquisition by Sanofi in November 2021. His leadership is expected to enhance Lyra's advancement of pipeline candidates LYR-210 and LYR-220 for chronic rhinosinusitis (CRS). The company granted him an equity-based award of 520,000 stock options as part of his employment package.
On January 24, 2022, Lyra Therapeutics (Nasdaq: LYRA) announced the initiation of the Phase 3 ENLIGHTEN I clinical trial for LYR-210, targeting chronic rhinosinusitis (CRS) patients who have not undergone previous surgery. This non-invasive treatment aims to provide six months of continuous anti-inflammatory relief. Following positive Phase 2 results, this trial will enroll about 180 patients, with primary endpoints focusing on symptom improvement over 24 weeks. Additionally, the BEACON Phase 2 trial for LYR-220 has commenced, targeting post-surgical CRS patients.
On November 11, 2021, Lyra Therapeutics (Nasdaq: LYRA) announced that CEO Maria Palasis, Ph.D., will present at three upcoming virtual investor conferences. These include the Jefferies London Healthcare Conference (available on-demand from November 18, 2021), the Canaccord Genuity Virtual MedTech Forum (on November 18, 2021), and the Evercore ISI HealthCONx Virtual Conference (on December 1, 2021). Webcasts will be accessible on the company's website for 30 days post-event. Lyra focuses on delivering localized treatments via its XTreo™ platform, targeting chronic rhinosinusitis and other ENT conditions.