LYRA - Lyra Therapeutics down 19% underwhelming data from lead program

Lyra Therapeutics (LYRA) down 19% in premarket after announcing topline results from Phase 2 (LANTERN) study evaluating its lead candidate, LYR-210 for chronic rhinosinusitis ((CRS)),  inflammation of the sinuses and nasal cavity.Data showed that LYR-210 was not statistically significant at week 4, at the 7500 mcg dose, though the treatment achieved statistically significant improvement in a composite score 4 cardinal symptoms at week 16, compared to control arm.On the safety front, LYR-210 was well-tolerated at all doses, and no treatment-related serious adverse events were reported.Given the comparable safety profile of LYR-210 at both 2500 mcg and 7500 mcg doses, Lyra anticipates progressing the LYR-210 program at the 7500 mcg dose level.The company also plans to initiate a Phase 3 study for LYR-210 in chronic rhinosinusitis for both non-polyp and polyp patients.LYR-210, a bioresorbable polymeric matrix administered non-invasively in a doctor's office, that delivers medication (mometasone furoate) for as long as six months to the sinonasal passages. Mometasone

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Lyra Therapeutics down 19% underwhelming data from lead program