Lyra Therapeutics reports Q1 net loss of $8.5M; ENLIGHTEN 2 top-line results expected Q2 2025

Lyra Therapeutics, Inc.

2025-Q1 EPS reported -$0.13 vs consensus -$6.97 ▲ beat (+98.1%)

Net loss of $8.5M ($0.13 per share) vs. $22.5M ($0.35) in Q1 2024; cash burn reduced YoY.
Cash & equivalents $31.7M at March 31, 2025, down from $40.6M at Dec 31, 2024.
Topline Phase 3 ENLIGHTEN 2 data for LYR-210 in CRS expected in Q2 2025; ~65 polyp patients across both ENLIGHTEN trials.
Plans a reverse stock split to comply with Nasdaq $1.00 minimum bid; stockholder vote on May 14, 2025.
R&D expenses fell to $4.9M from $18.2M YoY, driven by completion of BEACON and ENLIGHTEN 1 trials and May 2024 workforce reduction.

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