Lyra Therapeutics suspends further development of LYR-210

5 days ago 3

TipRanks

Tue, January 13, 2026 astatine 6:26 AM CST 1 min read

Lyra Therapeutics (LYRA), announced that its Board of Directors has decided to suspend further improvement of LYR-210, the Company’s pb merchandise campaigner for the attraction of chronic rhinosinusitis. The Company besides announced a workforce simplification impacting its remaining 28 employees and different cost-saving actions to sphere capital. Maria Palasis, Ph.D., Chief Executive Officer, President and Chair of the Board, and Jason Cavalier, Chief Financial Officer and Treasurer, are each being retained arsenic consultants to enactment the Company’s pursuit of strategical alternatives. The Company has engaged SSG Capital Advisors to assistance with this effort. “In transportation with the Company’s reappraisal of strategical options, which was announced successful May 2024, the Board has concluded that it is successful the champion interests of shareholders to cease Lyra’s merchandise improvement operations,” said Dr. Palasis. “We are grateful for the contributions of our employees astir of whom volition permission Lyra arsenic a effect of this determination to discontinue improvement of LYR-210. Our precedence moving guardant is to measure and research strategical alternatives to beforehand LYR-210 for the imaginable payment of patients.”

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