Lyra Therapeutics terminates two leases, forfeits $1.4M deposits and pays $2.5M in fees

Lyra Therapeutics, Inc.

Watertown lease (22,343 SF): forfeits $302,514.84 LC deposit + pays $1M modification; lease ends May 31, 2026.
Waltham lease (28,858 SF): forfeits $1,089,389 LC deposit + pays $1.5M termination fee; lease ends May 31, 2026.
Contingent: if Sale Transaction closes, Lyra pays 10% of Net Cash up to $1.5M.
Rent obligations ceased Jan 31, 2026 (Watertown) and Mar 31, 2026 (Waltham).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Lyra Therapeutics, Inc. terminated 480 Arsenal Street Lease with ARE-480 Arsenal Street, LLC valued at Forfeiture of $302,514.84 letter of credit security deposit and payment of $1,000,000.00 lease modif (effective 2026-03-31).

Action: termination
Agreement: lease
Counterparty: ARE-480 Arsenal Street, LLC
Value: Forfeiture of $302,514.84 letter of credit security deposit and payment of $1,000,000.00 lease modif
Effective: 2026-03-31

Exact text from the filing

On March 31, 2026, Lyra Therapeutics, Inc. (the “Company”) entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises with ARE-480 Arsenal Street, LLC to terminate the Company’s lease for approximately 22,343 rentable square feet at 480 Arsenal Way, Suites 200 and 200A, Watertown, Massachusetts.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Lyra Therapeutics, Inc. terminated 880 Winter Street Lease with BXP Waltham Woods LLC valued at Forfeiture of $1,089,389.00 letter of credit security deposit and payment of $1,500,000.00 terminati (effective 2026-04-07).

Action: termination
Agreement: lease
Counterparty: BXP Waltham Woods LLC
Value: Forfeiture of $1,089,389.00 letter of credit security deposit and payment of $1,500,000.00 terminati
Effective: 2026-04-07

Exact text from the filing

On April 7, 2026, the Company entered into a Lease Termination Agreement with BXP Waltham Woods LLC to terminate the Company’s lease for approximately 28,858 rentable square feet at 880 Winter Street, Waltham, Massachusetts.

View on SEC.gov

119 material agreements filed in the last 30 days. Browse all material agreements →

Lyra Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-150441

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.