Lyra Therapeutics, Inc. Company profile
About Lyra Therapeutics Inc
Lyra Therapeutics, Inc. is a clinical-stage therapeutics company. The Company is focused on development and commercialization of novel drug and delivery solutions for the treatment of patients with ear, nose, and throat (ENT) diseases. Its technology platform, XTreo, is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration. Its product candidates include LYR-210 and LYR-220, are bioresorbable polymeric matrices administered in a non-invasive, in-office procedure to deliver up to six months of continuous drug therapy to the sinonasal passages for the treatment of chronic rhinosinusitis (CRS). LYR-210 is an anti-inflammatory implantable drug matrix based on its XTreo platform that is designed to elute mometasone furoate (MF) to the inflamed mucosal tissue for up to six months in surgically naive CRS patients. LYR-220 is an investigative therapy for CRS patients with and without nasal polyps.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Lyra Therapeutics Inc revenues increased from $0K to $285K. Net loss applicable to common stockholders increased 96% to $43.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Research and development - Balancing val increase from $12.3M to $29.2M (expense).
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