Lyra Therapeutics Decides To Suspend Further Development Of LYR-210, Its Lead Product Candidate For Chronic Rhinosinusitis, And Implement A Workforce Reduction Impacting Its Remaining 28 Employees

In June 2025, Lyra reported positive data from the ENLIGHTEN 2 Phase 3 trial of LYR-210, achieving statistically significant results for primary and key secondary endpoints in the treatment of CRS without nasal polyps. Lyra estimates that there are nearly three million non-polyp CRS patients in the U.S. who fail medical management each year and would be eligible for LYR-210. Lyra has established a clinical development plan, which includes an additional Phase 3 trial, based on meeting with the U.S. Food and Drug Administration (FDA), to support the submission of a new drug application (NDA) for LYR-210.

As of September 30, 2025, prior to the reduction in force, Lyra had approximately $22.1 million in cash, cash equivalents, and short-term investments. The Company expects Lyra's cash runway to last into the third quarter of 2026.