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Investor Relations14 Oct 2025
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Lyra Therapeutics (LYRA) investor relations material
Lyra Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary12 Aug, 2025
Executive summary
Positive ENLIGHTEN 2 Phase 3 results for LYR-210 in CRS patients, meeting primary and key secondary endpoints; ENLIGHTEN 1 previously failed, prompting major restructuring and a 75% workforce reduction.
June 2025 financing extended cash runway into Q3 2026, supporting ongoing development and operations.
Company reengaged with FDA, preparing for a Type C meeting to align on NDA submission for LYR-210.
Collaboration with LianBio faces uncertainty due to LianBio's wind-down; company evaluating strategic options and subleasing efforts for costly leaseholds.
Financial highlights
Net loss for Q2 2025 was $7.4M, down from $48.1M in Q2 2024; net loss for six months ended June 30, 2025 was $16.0M, down from $70.6M year-over-year.
Operating expenses for Q2 2025 were $9.0M, reflecting lower R&D and G&A costs after restructuring.
Cash and cash equivalents as of June 30, 2025 were $29.8M, compared to $40.6M at year-end 2024.
No impairment costs in Q2 2025 versus $24.7M in Q2 2024.
June 2025 financing raised $5.0M gross ($4.3M net) via direct offering and private placement warrants.
Outlook and guidance
Cash runway expected to fund operations into Q3 2026, but substantial doubt remains about ability to continue as a going concern without additional funding.
Company plans to seek FDA feedback on ENLIGHTEN data to determine regulatory path for LYR-210; manufacturing for LYR-210 restarted in early 2025 for potential further trials.
Upcoming Type C FDA meeting in H2 2025 to discuss NDA submission for LYR-210.
No expectation of product sales revenue in the near term; future revenue primarily dependent on LianBio collaboration, which is at risk.
Explain the intended use of the net proceeds from the offering.
What is the anticipated focus of the Type C meeting with the FDA?
What were the main drivers for the decrease in R&D expenses?
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Next Lyra Therapeutics earnings date
Q3 202518 Nov, 2025
Next Lyra Therapeutics earnings date
Q3 202518 Nov, 2025
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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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