Lyra Therapeutics Inc
NASDAQ:LYRA
Lyra Therapeutics Inc
Lyra Therapeutics, Inc. is a clinical-stage therapeutics company. The company is headquartered in Watertown, Massachusetts and currently employs 53 full-time employees. The company went IPO on 2020-05-01. The firm is focused on development and commercialization of novel drug and delivery solutions for the treatment of patients with ear, nose, and throat (ENT) diseases. Its technology platform, XTreo, is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration. Its product candidates include LYR-210 and LYR-220, are bioresorbable polymeric matrices administered in a non-invasive, in-office procedure to deliver up to six months of continuous drug therapy to the sinonasal passages for the treatment of chronic rhinosinusitis (CRS). LYR-210 is an anti-inflammatory implantable drug matrix based on its XTreo platform that is designed to elute mometasone furoate (MF) to the inflamed mucosal tissue for up to six months in surgically naive CRS patients. LYR-220 is an investigative therapy for CRS patients with and without nasal polyps.
Lyra Therapeutics, Inc. is a clinical-stage therapeutics company. The company is headquartered in Watertown, Massachusetts and currently employs 53 full-time employees. The company went IPO on 2020-05-01. The firm is focused on development and commercialization of novel drug and delivery solutions for the treatment of patients with ear, nose, and throat (ENT) diseases. Its technology platform, XTreo, is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration. Its product candidates include LYR-210 and LYR-220, are bioresorbable polymeric matrices administered in a non-invasive, in-office procedure to deliver up to six months of continuous drug therapy to the sinonasal passages for the treatment of chronic rhinosinusitis (CRS). LYR-210 is an anti-inflammatory implantable drug matrix based on its XTreo platform that is designed to elute mometasone furoate (MF) to the inflamed mucosal tissue for up to six months in surgically naive CRS patients. LYR-220 is an investigative therapy for CRS patients with and without nasal polyps.
Clinical Progress: Lyra reported positive data for LYR-210, showing ongoing safety and durable symptom relief in chronic rhinosinusitis patients, including half of patients maintaining benefits six months post-removal.
Late-Stage Trials: The company plans to initiate Phase 3 trials for LYR-210 and a Phase 2 trial for LYR-220 around year end, expected to enroll patients throughout 2022.
Financial Position: Lyra ended Q3 with $58.1 million in cash, which management believes is sufficient to fund planned operations through 2022.
R&D Spending: Research and development costs rose to $7.1 million in Q3, up from $3.7 million a year prior, mainly due to clinical trial and manufacturing scale-up.
Manufacturing Readiness: Technology transfer to a contract manufacturer is complete, with current capacity sufficient for ongoing clinical trials and plans to scale for commercialization.
LianBio Collaboration: Lyra’s partner LianBio is set to participate in Phase 3 studies, aiming for China launch shortly after the US.
