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Lyra Therapeutics (LYRA) investor relations material
Lyra Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Positive Phase 3 ENLIGHTEN 2 trial results for LYR-210 in chronic rhinosinusitis (CRS), meeting primary and key secondary endpoints, with no product-related serious adverse events reported; results presented at a major medical conference in October 2025.
ENLIGHTEN 1 trial failed to meet its primary endpoint in May 2024, leading to a 75% workforce reduction, pausing of LYR-220 development, and cost-saving measures.
Company is preparing a new confirmatory Phase 3 trial for LYR-210, aiming for NDA submission, contingent on securing additional funding.
Financial highlights
Cash and cash equivalents were $22.1 million as of September 30, 2025, down from $40.6 million at year-end 2024.
Net loss for the nine months ended September 30, 2025 was $22.0 million, a significant improvement from $82.5 million in the prior year period, primarily due to reduced R&D and G&A expenses.
Operating expenses for the nine months ended September 30, 2025 were $24.3 million, down from $86.3 million year-over-year.
Net loss for Q3 2025 was $6.0 million, compared to $11.9 million for Q3 2024.
Research and development expenses decreased by $1.9 million year-over-year to $4.0 million for Q3 2025.
Outlook and guidance
Existing cash is expected to fund operations into Q3 2026, excluding costs for the planned third Phase 3 trial, which will require additional financing.
Management has concluded there is substantial doubt about the ability to continue as a going concern without new funding.
Strategic options, including partnerships or transactions, are being evaluated to maximize shareholder value.
Plans to conduct an additional Phase 3 trial to support NDA submission for LYR-210.
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Next Lyra Therapeutics earnings date
Q4 202512 Mar, 2026
Next Lyra Therapeutics earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
Lyra Therapeutics Inc. is a clinical-stage biotechnology firm dedicated to developing innovative therapies for the localized treatment of chronic rhinosinusitis (CRS). CRS is an inflammatory disease of the paranasal sinuses that results in prolonged periods of nasal congestion, facial pain, and nasal discharge. Leveraging expertise in materials science, drug development, and formulation, Lyra has introduced proprietary technology aimed at delivering medications directly, precisely, and consistently to the affected tissue for extended durations with a single administration. The company's leading product candidates include LYR-210 and LYR-220, both bioresorbable nasal implants designed for in-office procedures, intended to provide up to six months of continuous drug therapy to the sinonasal passages for CRS treatment. The company is headquartered in Watertown, Massachusetts, and its shares are listed on the Nasdaq.
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