Lyra Therapeutics, Inc. (LYRA)

In June 2025, Lyra Therapeutics reported positive data from its ENLIGHTEN 2 Phase 3 trial for LYR-210. A 1-for-50 reverse stock split occurred in May 2025 to regain Nasdaq compliance. In August 2025, Lyra received a Nasdaq notice regarding non-compliance with the minimum stockholders' equity requirement. Following an FDA meeting in September 2025, an additional Phase 3 trial was required for LYR-210's new drug application. In November 2025, BTIG reiterated a Neutral rating on the stock after the company's third-quarter results. In January 2026, Lyra suspended further development for LYR-210, reduced its workforce, and is exploring strategic alternatives, leading to a stock price decrease.

Lyra Therapeutics, Inc. does not currently have commercialized products generating significant revenue, so there is no information available regarding demand seasonality. The company's financial focus has been on research and development investments.

Lyra Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing and commercializing drug and delivery solutions for ear, nose, and throat diseases, particularly chronic rhinosinusitis (CRS). Their main product candidates, LYR-210 and LYR-220, are bioresorbable nasal implants designed for in-office administration, delivering continuous anti-inflammatory drug therapy to the sinonasal passages. LYR-210 was for surgically naive CRS patients, while LYR-220 was for CRS patients with recurrent symptoms after ethmoid sinus surgery.

Lyra Therapeutics, Inc. is headquartered in Watertown, Massachusetts, United States. They previously had a collaboration agreement with LianBio Inflammatory Limited for LYR-210 in Asian markets, including mainland China, Hong Kong, Taiwan, Macau, South Korea, Singapore, and Thailand.

Lyra Therapeutics' brand reputation has been negatively impacted by the suspension of LYR-210 development and subsequent layoff of employees in January 2026. This corporate restructuring indicates a major setback despite earlier positive Phase 3 trial data for LYR-210 in June 2025.

Lyra Therapeutics, Inc.'s ownership is heavily weighted towards institutional investors including Perceptive Advisors Llc, Sabby Management, Llc, Vanguard Group Inc, Ikarian Capital, LLC, Citadel Advisors Llc, Geode Capital Management, Llc, UBS Group Ag, Blackrock, Inc., Royal Bank Of Canada, and Morgan Stanley. As of August 2022, private equity firms held approximately 47% of the company, institutions held 20%, and hedge funds controlled 16% of the shares.