Lyra Therapeutics Spikes 417% as LYR-210 Redefines CRS Therapy

• Lyra Therapeutics Inc. (LYRA) stock soared nearly 417% to $25.50, peaking at $37.50 intraday, after positive ENLIGHTEN 2 Phase 3 trial results for LYR-210, showing a significant 1.13-point improvement (p=0.0078) in CRS symptoms at week 24.
• LYR-210’s success in treating chronic rhinosinusitis without nasal polyps positions Lyra to advance its regulatory strategy, offering a six-month single-administration therapy for millions of patients.

Lyra Therapeutics Inc. (LYRA) experienced a dramatic stock surge this morning of nearly 417% to $25.50, with an intraday peak of $37.50, following the announcement of positive results from its ENLIGHTEN 2 Phase 3 clinical trial for LYR-210, a long-acting anti-inflammatory sinonasal implant designed to treat chronic rhinosinusitis (CRS) in patients without nasal polyps. The trial successfully met its primary endpoint, demonstrating a statistically significant improvement in the composite score of the three cardinal symptoms of CRS – nasal obstruction, nasal discharge, and facial pain/pressure – with a reduction of 1.13 points (p=0.0078) compared to sham control at week 24. This milestone underscores the potential of LYR-210 to offer a novel treatment option, providing six months of therapy through a single administration for millions of CRS patients who fail standard medical management.

Maria Palasis, Ph.D., President and CEO of Lyra Therapeutics, emphasized the significance of these results, noting that the company is actively reviewing the full dataset from the ENLIGHTEN trials to refine its regulatory strategy and advance LYR-210 toward market approval. The clinical-stage biotechnology company’s breakthrough addresses a significant unmet need in CRS treatment, a condition affecting millions globally, where persistent inflammation leads to debilitating symptoms. Lyra’s innovative implant technology aims to deliver sustained relief, potentially reshaping the treatment landscape for CRS and positioning the company as a leader in this niche therapeutic area. The market’s enthusiastic response reflects investor confidence in Lyra’s ability to capitalize on this opportunity and drive long-term value in the biotechnology sector.

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