Lyra Q1 2022 Earnings Report
Key Takeaways
Lyra Therapeutics reported a net loss of $7.0 million for the first quarter of 2022. The company's cash and cash equivalents were $33.8 million as of March 31, 2022, and it secured $100.5 million in gross proceeds from a private placement in April 2022.
Lyra closed a private placement of common stock of approximately $100.5 million in gross proceeds in April 2022.
Enrollment is ongoing for the pivotal ENLIGHTEN I Phase 3 trial, and initiation of the ENLIGHTEN II Phase 3 trial is targeted for mid-year.
The first patient was treated in Australia in the Part 1/non-randomized portion of the BEACON Phase 2 trial for LYR-220 in April.
Cash and cash equivalents were $33.8 million as of March 31, 2022.
Lyra
Lyra
Forward Guidance
The company expects its cash balance to be sufficient to fund its planned operations through mid-2024.