Lyra Therapeutics, Inc. (LYRA): restructuring charge — Lyra Therapeutics estimates $3.9-4.1M in charges from workforce reduction of up to 87 employees

Lyra Therapeutics, Inc.

Board approved workforce reduction of up to 87 employees, effective May 21 and June 20, 2024.
Cost estimate: $3.9 to $4.1 million, primarily severance and benefits.
Majority of charges expected in Q2 2024.
Company previously could not estimate costs; this 8-K/A provides updated disclosure.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Lyra Therapeutics, Inc. announced a restructuring with charges of approximately $3.9 to $4.1 million (up to 87 employees).

Type: restructuring
Charge: approximately $3.9 to $4.1 million
Headcount: up to 87 employees

Exact text from the filing

The Company currently estimates that it will incur charges of approximately $3.9 to $4.1 million in connection with the Workforce Reduction, primarily consisting of severance payments, employee benefits and related costs.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Lyra Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-157373

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