Lyra Therapeutics Announces Cost-Cutting Measures to Preserve Capital [Yahoo! Finance]
Lyra Therapeutics, Inc. (LYRA)
Company Research
Source: Yahoo! Finance
advancing its goal to preserve capital by implementing a layoff of approximately 75% of its workforce, in addition to other cost-cutting measures. In the near term, Lyra Therapeutics will focus on the two ongoing ENLIGHTEN Phase 3 trials evaluating LYR-210, a bioabsorbable sinonasal implant for the treatment of chronic rhinosinusitis (CRS). Lyra continues to analyze the data from the ENLIGHTEN 1 trial, which did not meet its 24-week primary endpoint. The Company intends to use this analysis to inform its approach on the completion of the 52-week extension phase of the ENLIGHTEN 1 trial with data expected in Q4 2024 and its approach to the ongoing ENLIGHTEN 2 trial. In connection with the reduction in force, which impacts 87 employees, Lyra Therapeutics has stopped manufacturing and commercialization efforts and seeks to sublease its facilities to significantly reduce the Company's operating costs. Furthermore, Lyra has paused efforts for LYR-220. These measures are expected to ext
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LYRA
News
- Lyra Therapeutics to Present Study Results for LYR-210 and LYR-220 in Two Presentations at the ARS and AAO-HNS Annual MeetingsGlobeNewswire
- Lyra Therapeutics, Inc. (NASDAQ: LYRA) was upgraded by analysts at William Blair to a "hold" rating.MarketBeat
- Lyra Therapeutics Insiders Still US$66k Away From Original Investment Value [Yahoo! Finance]Yahoo! Finance
- Lyra Therapeutics, Inc. (NASDAQ: LYRA) had its "neutral" rating re-affirmed by analysts at HC Wainwright. They now have a $2.00 price target on the stock.MarketBeat
- Lyra Therapeutics, Inc. (NASDAQ: LYRA) had its "overweight" rating re-affirmed by analysts at Cantor Fitzgerald.MarketBeat
LYRA
Sec Filings
- 8/15/24 - Form SC
- 8/14/24 - Form 10-Q
- 8/14/24 - Form 8-K
- LYRA's page on the SEC website