Lyra Therapeutics, Inc. Stock Price, News & Analysis

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.

Lyra Therapeutics (LYRA) reported its Q3 financial results for 2021, revealing a net loss of $11.1 million, up from $6.3 million the previous year. Cash reserves decreased to $58.1 million, projected to fund operations through 2022. The company is set to initiate the LYR-220 Phase 2 BEACON study this month and the LYR-210 Phase 3 ENLIGHTEN study by year-end. Recent positive data from the LYR-210 Phase 2 LANTERN study showed durable responses in half of treated chronic rhinosinusitis patients, supporting its potential as a new standard of care.

Lyra Therapeutics (Nasdaq: LYRA) will report its third quarter 2021 financial results on November 9, 2021, after market close. The company is known for its XTreo™ platform, aimed at delivering localized therapies in ENT treatments. Following the results, a conference call and live webcast will take place at 4:30 p.m. ET. Lyra’s lead product candidate, LYR-210, is entering Phase 3 trials for chronic rhinosinusitis, while LYR-220 moves to Phase 2 development. Investors are encouraged to tune in for insights into Lyra's future prospects.

Lyra Therapeutics (NASDAQ: LYRA) announced positive results from its Phase 2 LANTERN study for LYR-210, the first drug-eluting candidate to show significant symptom improvement in chronic rhinosinusitis (CRS) patients. The study demonstrated that LYR-210 provided safe and durable symptom relief for six months with a single administration. Results published in the International Forum of Allergy & Rhinology noted a greater than 2-fold improvement over controls. The company plans to initiate its Phase 3 ENLIGHTEN program by year-end 2021, aiming to revolutionize CRS treatment.

Lyra Therapeutics (Nasdaq: LYRA) announced that its LYR-210 pharmacokinetic study has been recognized as a top clinical abstract for the upcoming 67^th American Rhinologic Society meeting. Four abstracts featuring LYR-210 and the XTreo™ platform will be presented at two major conferences from September 26 to October 2, 2021. LYR-210 is entering Phase 3 clinical trials for chronic rhinosinusitis, presenting a non-invasive alternative to surgery. The company aims for continuous drug delivery over six months, enhancing treatment options for patients.

Lyra Therapeutics announced the appointment of Jason Cavalier as the new Chief Financial Officer, effective immediately. Cavalier, a seasoned investment banker with over two decades of experience, succeeds Don Elsey, who is retiring. Cavalier will lead the company’s financial strategies and support the advancement of lead programs LYR-210 and LYR-220 into late-stage clinical development. Under his leadership, the company aims to capitalize on the multi-billion-dollar chronic rhinosinusitis market.

Lyra Therapeutics (LYRA) announced significant advancements in its XTreo™ technology platform, demonstrating effective dosing of anti-inflammatory medication for Chronic Rhinosinusitis (CRS). The preclinical study published in the American Journal of Rhinology & Allergy confirmed that LYR-210, utilizing XTreo™, surpassed traditional intranasal corticosteroid sprays in targeting and sustaining drug release. With LYR-210 now entering Phase 3 studies, the company aims to address the needs of the 14 million CRS patients in the U.S., specifically those who failed conventional treatments.