Lyra Therapeutics, Inc. SEC Filings

Lyra Therapeutics reported mixed clinical and financial results for the quarter. The company announced positive Phase 3 ENLIGHTEN 2 results for LYR-210, showing statistically significant improvement versus sham in the three-cardinal-symptom composite (3CS) at 24 weeks in patients without nasal polyps (treatment effect -1.13; p=0.0078), in the full population (-0.90; p=0.0209), and in SNOT-22 score (-8.7; p=0.0101). LYR-210 was generally well tolerated with no product-related serious adverse events.

On the financial side, Lyra had $29.8 million in cash and cash equivalents at June 30, 2025 and an accumulated deficit of approximately $420.8 million. Net loss was $7.4 million for the quarter and $16.0 million for the six months ended June 30, 2025. The company completed a June 2025 financing that raised $5.0 million gross ($4.3 million net) and sold shares under its shelf registration generating $26.7 million of proceeds (net). Following an earlier failed Phase 3 ENLIGHTEN 1 trial and related cost reductions (including a workforce reduction of 87 employees and impairment charges), management disclosed substantial doubt about its ability to continue as a going concern and has paused commercialization and certain development and manufacturing activities while pursuing strategic and cost-saving actions.

Lyra Therapeutics filed an 8-K reporting it announced financial results for the quarter ended June 30, 2025. The filing states the company furnished a press release as Exhibit 99.1 and posted a corporate presentation on its website, furnished as Exhibit 99.2. Both exhibits are expressly described as "furnished, and not filed," and the company disclaims any obligation to update the presentation. The filing identifies Lyra's common stock as trading under the symbol LYRA on The Nasdaq Capital Market and indicates the company is an emerging growth company. The report is signed by CFO Jason Cavalier on August 12, 2025.

Lyra Therapeutics (NASDAQ:LYRA) filed an 8-K on June 26, 2025 disclosing a registered direct offering and concurrent private placement.

The company sold 273,012 common shares, 150,360 pre-funded warrants (exercise $0.001) and 846,744 private warrants (exercise $11.56) at a combined price of $11.81, generating about $4.3 million in net proceeds.

• H.C. Wainwright earns a 7 % placement fee plus 6.5 % on any future warrant cash exercise.
• Private warrants are immediately exercisable, expire 24 months after the resale registration statement is declared effective and include Black-Scholes cash-out rights upon a fundamental transaction.
• Beneficial-ownership caps: 9.99 % for pre-funded warrants, 4.99 % (optionally 9.99 %) for private warrants.
• Proceeds will fund working capital and further clinical, manufacturing and pre-commercial activities for LYR-210.

No additional material events were reported.

Lyra Therapeutics has announced a combined offering of 273,012 shares of common stock and pre-funded warrants to purchase 150,360 shares. The offering includes:

• Common stock priced at $11.81 per share with two accompanying private warrants
• Pre-funded warrants at $11.809 per underlying share with $0.001 exercise price
• Private warrants to purchase up to 846,744 shares at $11.56 exercise price

The total offering is expected to raise approximately $5 million before expenses, with $350,001 in placement agent fees. H.C. Wainwright & Co. is acting as exclusive placement agent. The company recently announced positive Phase 3 ENLIGHTEN 2 trial results for LYR-210 in chronic rhinosinusitis patients, meeting its primary endpoint with statistically significant improvement in cardinal symptoms at week 24.

The offering is subject to Form S-3 limitations, with aggregate market value of common stock held by non-affiliates at $29.2 million. Post-offering shares outstanding will be approximately 1.74 million, assuming full exercise of pre-funded warrants.