Lyra Therapeutics reports FY2024 net loss $93.4M; ENLIGHTEN 2 top-line data expected Q2 2025

Lyra Therapeutics, Inc.

Net loss for FY2024 was $93.4M ($1.43 diluted EPS) vs $62.7M in FY2023; cash $40.6M as of Dec 31, 2024.
Top-line results from ENLIGHTEN 2 Phase 3 trial of LYR-210 in CRS expected in Q2 2025.
Positive post-hoc data from ENLIGHTEN 1 extension in polyp cohort; FDA alignment on registration path for CRSwNP.
Planned reverse stock split to maintain Nasdaq listing; requires shareholder approval in Q2 2025.
R&D expenses decreased to $43.8M from $48.0M due to trial completions and workforce reduction.

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