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Sep 30, 2021
Lyra Q3 2021 Earnings Report
Lyra Therapeutics reported financial results for the third quarter ended September 30, 2021 and highlighted recent accomplishments.
Key Takeaways
Lyra Therapeutics reported a net loss of $11.1 million for the third quarter of 2021. The company's cash and cash equivalents were $58.1 million as of September 30, 2021, and they expect this to be sufficient to fund operations through 2022.
Lyra expects to initiate the LYR-220 Phase 2 BEACON study in post-surgical chronic rhinosinusitis (CRS) patients this month.
Lyra remains on track to initiate the LYR-210 Phase 3 ENLIGHTEN program in surgically-naïve CRS patients around the end of the year.
New positive data on LYR-210 were the subject of two presentations at the 67th Annual Meeting of the American Rhinologic Society (ARS).
Jason Cavalier was appointed as Chief Financial Officer in September.
Revenue by Segment
Forward Guidance
Lyra expects to initiate the LYR-220 Phase 2 BEACON study in post-surgical chronic rhinosinusitis (CRS) patients this month, and remains on track to initiate the LYR-210 Phase 3 ENLIGHTEN program in surgically-naïve CRS patients around the end of the year. The Company expects its cash balance to be sufficient to fund its planned operations through 2022.
Positive Outlook
- Initiate the LYR-220 Phase 2 BEACON study in post-surgical chronic rhinosinusitis (CRS) patients this month.
- Remain on track to initiate the LYR-210 Phase 3 ENLIGHTEN program in surgically-naïve CRS patients around the end of the year.
- Cash balance to be sufficient to fund its planned operations through 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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