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Mar 31, 2023
Lyra Q1 2023 Earnings Report
Lyra Therapeutics reported financial results for Q1 2023 and provided a corporate update.
Key Takeaways
Lyra Therapeutics reported a net loss of $16.3 million for the first quarter of 2023, compared to a net loss of $11.9 million for the same period in 2022. Cash, cash equivalents, and short-term investments were $82.7 million as of March 31, 2023.
Enrollment is progressing well in the ENLIGHTEN I pivotal trial of LYR-210 in pre-surgical CRS, with data expected in the first half of 2024.
The company restarted enrollment in ENLIGHTEN II, the second pivotal trial of LYR-210, following a successful transition to in-house manufacturing of clinical supply.
Enrollment in the BEACON Phase 2 trial of LYR-220 in post-surgical CRS has been completed, with data expected in Q4 2023.
Cash, cash equivalents and short-term investments as of March 31, 2023 were $82.7 million.
Revenue by Segment
Forward Guidance
Lyra Therapeutics anticipates that its cash, cash equivalents and short-term investment balance is sufficient to fund its operating expenses and capital expenditures into mid-second quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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