Lyra Therapeutics(LYRA) - 2025 Q1 - Quarterly Results

Financial Performance - Cash and cash equivalents as of March 31, 2025, were $31.7 million, down from$40.6 million at December 31, 2024[8] - Research and development expenses for Q1 2025 were $4.9 million, a decrease of 73$18.2 million for the same period in 2024[9] - General and administrative expenses for Q1 2025 were $3.3 million, down from$5.8 million in Q1 2024, reflecting a reduction in professional and consulting fees[10] - Net loss for Q1 2025 was $8.5 million, significantly reduced from$22.5 million in Q1 2024[11] - Total operating expenses for Q1 2025 were $9.0 million, compared to$24.1 million for the same period in 2024[12] Clinical Trials - The ENLIGHTEN 2 pivotal Phase 3 trial results for LYR-210 in CRS are expected in Q2 2025[7] - The ENLIGHTEN program includes two pivotal Phase 3 trials, with approximately 180 CRS patients enrolled in each trial[5] Strategic Plans - The company plans to implement a reverse stock split to comply with Nasdaq's minimum bid price requirement[6] - The company anticipates that its cash balance will fund operations into Q1 2026[8] Product Information - LYR-210 is designed to deliver six months of continuous anti-inflammatory therapy for CRS patients[15]