Lyra Therapeutics

LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (Nasdaq:LYRA) announced today that it enrolled the first patient in its Phase 3 Enlighten II clinical trial.

Enlighten II is evaluating the company’s LYR-210 in adult patients with chronic rhinosinusitis (CRS). Lyra’s proprietary XTreo platform delivers LYR-210.

Watertown, Massachusetts-based Lyra designed the proprietary XTreo platform for precise, sustained and local delivery. The platform is comprised of a flexible mesh capable of taking a high payload of a drug.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (Nasdaq:LYRA) announced today that it closed its previously announced private placement worth $100.5 million.

The company announced last week that, in the private placement, investors had the option in the private placement to purchase either shares of Lyra’s common stock at $4.22 per share or, in lieu thereof, pre-funded warrants to purchase shares of common stock with an exercise price of $0.001 per share at a purchase price of $4.219 per share (equating to $4.22 per share).

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (Nasdaq:LYRA) announced today that it entered into an agreement to sell securities in a private placement worth more than 100 million.

The company — which develops the XTreo platform designed to enable precise, sustained, and local delivery of medications to the ear, nose and throat (ENT) passages and other diseased tissues — did not list an intended use of proceeds.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (NSDQ:LYRA) announced today that it initiated the Phase 3 Enlighten I trial for its LYR-210 treatment.

Watertown, Massachusetts-based Lyra’s Phase 3 Enlighten I clinical trial will evaluate LYR-210, delivered through Lyra’s proprietary XTreo drug-eluting implant, in adult, surgically naïve chronic rhinosinusitis (CRS) patients. The company designed LYR-210 for delivery in a brief, non-invasive, in-office procedure with up to six months of continuous anti-inflammatory medication in the sinonasal passages.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (NSDQ:LYRA) is touting preclinical data for its XTreo drug-eluting implant for dosing in local sinus tissues.

Watertown, Massachusetts-based Lyra’s preclinical results were published — “Drug Release and Pharmacokinetic Evaluation of Novel Implantable Mometasone Furoate Matrices in Rabbit Maxillary Sinuses” — were published online in the peer-review journal, American Journal of Rhinology & Allergy.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (NSDQ:LYRA) announced today that it entered into a strategic partnership with LianBio for its LYR-210 treatment for chronic rhinosinusitis.

Watertown, Mass.-based Lyra, which develops the LYR-210 therapeutic to be locally delivered by its proprietary XTreo platform, could receive up to $135 million in total payments through the strategic partnership and exclusive license agreement for development and commercialization in Asia with LianBio.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (NSDQ:LYRA) shares finished up on the day despite first-quarter results that missed the consensus earnings forecast.

The Watertown, Mass.-based chronic rhinosinusitis (CRS) treatment developer posted losses of -$7.8 million, or -60¢ per share for the three months ended March 31, 2021, for a -84.4% bottom-line slide. Lyra’s EPS of -60¢ came in 48¢ behind Wall Street projections.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

Lyra Therapeutics (NSDQ:LYRA) presented positive results from a Phase 2 study of its therapeutic for treating chronic rhinosinusitis (CRS).

Watertown, Mass.-based Lyra’s Phase 2 Lantern study evaluated its LYR-210 long-acting product for CRS, which is administered in-office to deliver a sustained release for up to six months as a non-invasive alternative to surgery for patients who have failed medical management.

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LYR-210 is an investigational product designed to provide six months of anti-inflammatory treatment from a single in-office administration(Image from Lyra Therapeutics)

With the use of anti-inflammatory drugs constituting the standard of care for treating rhinosinusitis, Lyra Therapeutics sees an opportunity.

Whatever treatments are out there for the disease in which cavities around the nasal passages are inflamed, they leave room for improvement.

“We focused on chronic rhinosinusitis because it’s an area that has been ignored,” Lyra CEO Maria Palasis told Drug Delivery Business News.  “It’s been called an unrecognized epidemic. It’s a disease where there, there just aren’t a lot of treatments.”

Watertown, Mass.-based Lyra has taken the initiative with its XTreo platform and the LYR-210 therapeutic.

Get the full story at our sister site, Drug Delivery Business News.