Lyra Therapeutics raises $5M upfront (up to $15M with warrant exercise) in equity offering

Lyra Therapeutics, Inc.

Upfront gross proceeds of $5.0M from sale of 423,372 shares (or pre-funded warrants) at $11.81 per share+private warrant.
Additional up to $9.8M if private warrants (846,744 shares at $11.56) exercised fully; warrants expire 24 months after resale registration effective.
Net proceeds ~$4.3M after placement agent fees (7% cash fee plus 6.5% on future warrant exercises).
Proceeds to be used for working capital and potential clinical development/manufacturing of LYR-210 for chronic rhinosinusitis.
Company previously terminated ~87 employees after failed ENLIGHTEN 1 Phase 3 trial and faces going concern risk.

item 1.01item 3.02item 8.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.