Lyra Therapeutics Q1 2022 net loss of $7.0M; secures $100.5M private placement

Lyra Therapeutics, Inc.

2022-Q1 EPS reported -$0.92 revenue$5,367,000

Net loss for Q1 2022 was $7.0M, compared to $7.8M in Q1 2021.
Cash and cash equivalents at March 31, 2022 were $33.8M; subsequently received $100.5M gross proceeds from April private placement.
Research and development expenses increased to $8.5M from $4.8M, driven by clinical trial costs.
ENLIGHTEN Phase 3 program for LYR-210 enrollment ongoing; ENLIGHTEN II initiation targeted mid-2022.
BEACON Phase 2 trial for LYR-220 first patient treated in Australia; Part 2 expected in U.S. in Q2 2022.

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