Lyra Therapeutics, Inc. Stock Price, News & Analysis

Lyra Therapeutics, Inc. (NASDAQ: LYRA) reported positive financial results for Q4 and FY 2020, highlighting the success of the LANTERN Phase 2 study for LYR-210, which shows promise for Chronic Rhinosinusitis treatment. The drug demonstrated significant improvements in symptom scores and extended benefits post-administration. Despite a net loss of $7 million for Q4 and $22.1 million for the year, Lyra ended the year with $74.6 million in cash, sufficient to fund operations into 2023. Key appointments, including Dr. Robert Kern as Chief Medical Officer, strengthen the team as the company plans pivotal trials.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) will release its fourth quarter and full year 2020 financial results on March 9, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results and corporate updates. Lyra focuses on innovative drug delivery solutions for ENT diseases, with lead candidate LYR-210 targeting chronic rhinosinusitis. The company emphasizes that it has incurred significant losses since inception and may require additional funding, which may not be available.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) has appointed Robert Kern, MD, as Chief Medical Officer, while he continues his role at Northwestern University. Dr. Kern is an expert in chronic rhinosinusitis (CRS) and has over 30 years of experience in ENT. His leadership is expected to enhance the company’s clinical pipeline, especially for its product candidates LYR-210 and LYR-220, which have shown positive Phase 2 results. The company aims to address significant treatment needs in CRS.

Lyra Therapeutics (Nasdaq: LYRA) announced significant updates regarding its lead product candidate, LYR-210, in a recent corporate update for 2021. The LANTERN Phase 2 study demonstrated positive topline results, showcasing significant improvement in chronic rhinosinusitis (CRS) symptoms. Lyra plans to discuss these findings with the FDA and intends to initiate a pivotal Phase 3 trial by late 2021. Cash and equivalents stood at $74.6 million as of December 31, 2020, sufficient to fund operations into 2023, exceeding prior guidance.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on November 19, 2020, at 12:00 p.m. ET, featuring CEO Maria Palasis. The event can be accessed live through the company’s website. Lyra focuses on innovative therapies for ENT diseases, with lead product LYR-210 aimed at treating chronic rhinosinusitis. The company emphasizes the potential of its XTreo™ platform for sustained local drug delivery. A replay of the webcast will be available for 30 days post-event.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) reported Q3 2020 financial results, highlighting a cash position of $81.6 million, down from $86.6 million in Q2. R&D expenses rose to $3.7 million, while total operating expenses reached $6.4 million. The net loss for Q3 was $6.3 million, compared to $4.2 million in 2019. The company remains on track to announce topline Phase 2 results for LYR-210 in December, with positive clinical data suggesting significant anti-inflammatory effects for chronic rhinosinusitis. Dr. Nancy Snyderman has joined the board, enhancing strategic oversight.

Lyra Therapeutics, Inc. (Nasdaq: LYRA) announced the appointment of Dr. Nancy L. Snyderman to its Board of Directors. Dr. Snyderman, an experienced otolaryngologist and healthcare expert, is expected to enhance Lyra's leadership as it approaches the topline results of the Phase 2 LANTERN study for its investigational drug LYR-210, aimed at treating chronic rhinosinusitis. Concurrently, Bob Langer and George Whitesides will transition from the Board to the Scientific Advisory Board. Lyra's ongoing focus is on developing novel drug delivery solutions for ENT diseases, particularly chronic rhinosinusitis.

Lyra Therapeutics (Nasdaq: LYRA) presented positive data on LYR-210 at the 66th Annual Meeting of the American Rhinologic Society. The data indicates a significant reduction in sinonasal Type 2 inflammation in patients with chronic rhinosinusitis (CRS) during a Phase 1 study. Notably, LYR-210 showed promising results in alleviating CRS symptoms and reducing local tissue inflammation. The company anticipates top-line results from its ongoing Phase 2 LANTERN study by the end of this year. These advancements demonstrate LYR-210’s potential as a novel treatment option for CRS, affecting millions of patients.

Lyra Therapeutics (Nasdaq: LYRA) announced its participation in the 66th Annual Meeting of the American Rhinologic Society, held virtually on September 10 and 12, 2020. The company will showcase three e-posters highlighting its lead product candidate, LYR-210, for chronic rhinosinusitis (CRS). These presentations will cover the product's efficacy in reducing sinonasal inflammation and symptoms. LYR-210 is a bioresorbable implant designed for up to six months of continuous drug delivery, aiming to provide a non-invasive treatment alternative for CRS patients.