---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-009772"
form_type: "8-K"
ticker: "LYRA"
cik: "0001327273"
company_name: "Lyra Therapeutics, Inc."
filed_at: "2026-01-12T23:59:59+00:00"
generated_at: "2026-05-16T10:47:53.821952+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Lyra suspends LYR-210 development, lays off nearly all staff; CEO/CFO become consultants

## Summary
- Board approved plan to suspend LYR-210 development and reduce workforce affecting substantially all employees, effective Jan 12, 2026.
- CEO Dr. Maria Palasis and CFO Jason Cavalier terminated; they signed consulting agreements with monthly fees of $78,125 and $55,555.50, respectively.
- Cash and equivalents $22.1M as of Sep 30, 2025; expected runway extended to Q3 2026.
- Engaged SSG Capital Advisors to explore strategic alternatives; no assurance of any transaction.
- Positive ENLIGHTEN 2 Phase 3 data for LYR-210 (June 2025) but capital constraints force halt.

## SEC filing metadata
- accession: 0001193125-26-009772
- form_type: 8-K
- ticker: LYRA
- cik: 0001327273
- company_name: Lyra Therapeutics, Inc.
- filed_at: 2026-01-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- confidence: high
- sec_items: 2.05, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327273/000119312526009772/0001193125-26-009772-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327273/000119312526009772/d27712d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-009772
- JSON: https://secwatch.observer/filing/0001193125-26-009772.json
- Plain text: https://secwatch.observer/filing/0001193125-26-009772.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.