LYRA - Lyra Therapeutics sees cash runway into 2023 with better than expected cash of $74M

Lyra Therapeutics (LYRA) says that End of Phase 2 Meeting with FDA for LYR-210 is expected in mid-2021 to discuss the results from the LANTERN Phase 2 trial, and intends to initiate a Phase 3 trial at the end of 2021.The company reported results from the Phase 2 study that 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.Lyra expects to announce data from its ongoing LYR-210 PK study, which completed enrollment, in Q2. Data will be used to support LYR-210’s path to regulatory approval through a 505(b)(2) New Drug Application.Phase 2 study to evaluate LYR-220 is anticipated to be initiated in 2H 2021. The company believes the LANTERN study validates its XTreo platform and also plans to utilize the 7500 mcg for LYR-220.Cash and equivalents

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Lyra Therapeutics sees cash runway into 2023, with better than expected cash of $74M