Lyra

May 10, 2022

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Mar 31, 2022

Lyra Q1 2022 Earnings Report

Lyra Therapeutics reported financial results for Q1 2022 and highlighted recent accomplishments.

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.