Lyra Q3 2022 Earnings Report
Key Takeaways
Lyra Therapeutics reported its Q3 2022 financial results, highlighting the advancement of their ENLIGHTEN I pivotal Phase 3 trial of LYR-210 in Chronic Rhinosinusitis (CRS) and the prioritization of in-house manufacturing capabilities. Enrollment in the ENLIGHTEN II trial is temporarily paused to align with manufacturing timelines, with resumption expected in Q3 2023. The company's cash and cash equivalents were reported as $109.6 million as of September 30, 2022, expected to fund operations through mid-2024.
ENLIGHTEN I pivotal Phase 3 trial of LYR-210 in CRS is on track, with full enrollment anticipated mid-2023.
BEACON Phase 2 trial of LYR-220 in post-surgical CRS patients has advanced to the randomized stage.
Lyra is prioritizing in-house manufacturing for clinical trial supply, leading to a temporary pause in ENLIGHTEN II enrollment, expected to resume in Q3 2023.
Cash and cash equivalents were $109.6 million as of September 30, 2022, expected to fund operations through mid-2024.