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Mar 31, 2024
Lyra Q1 2024 Earnings Report
Reported financial results for the first quarter ended March 31, 2024, and provided a corporate update.
Key Takeaways
Lyra Therapeutics reported a net loss of $22.5 million for Q1 2024, compared to a net loss of $16.3 million for the same period in 2023. Cash, cash equivalents, and short-term investments totaled $87.1 million as of March 31, 2024. The company anticipates its cash balance will fund operations into the first quarter of 2025.
Results from the ENLIGHTEN 1 pivotal Phase 3 clinical trial of LYR-210 are expected in May 2024.
Enrollment in ENLIGHTEN 2 is expected to be completed in the second half of 2024.
Results from the ENLIGHTEN 1 52-week extension study are expected in Q4 2024.
An end-of-Phase 2 meeting for LYR-220 with the FDA is anticipated in the second half of 2024.
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 the first quarter of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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