Lyra Therapeutics, Inc. Stock Price, News & Analysis

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.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) announced that its President and CEO, Maria Palasis, Ph.D., will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, at 7:00 a.m. ET. The presentation will be available for on-demand viewing, and a webcast can be accessed in the Investor Relations section of Lyra's website. Lyra is focused on local drug delivery in ENT treatments, with its lead product candidate, LYR-210, entering Phase 3 for chronic rhinosinusitis, and LYR-220 entering Phase 2. Both candidates aim for up to six months of therapy from a single treatment.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) will host a Chronic Rhinosinusitis (CRS) Key Opinion Leader Event on August 31, 2021, from 3:00 p.m. to 4:30 p.m. ET. Dr. Robert Kern will moderate a discussion featuring experts Dr. Amber Luong and Dr. Brent Senior. The company is advancing its LYR-210 and LYR-220 candidates for CRS, targeting four million U.S. patients annually. Phase 3 trials for LYR-210 and Phase 2 for LYR-220 are expected to commence by the end of 2021. A live webcast will be available on their Investor Relations website.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) reported significant advancements during its second quarter of 2021. The company successfully completed an End-of-Phase 2 meeting with the FDA for LYR-210, aiming to initiate a Phase 3 program by year-end 2021. A licensing deal with LianBio for LYR-210 in Greater China has been established, including an upfront payment of $12 million and up to $135 million in milestone payments. Financially, the company reported a net loss of $11 million, and cash reserves stood at $69 million, sufficient to fund operations into 2023.