Lyra Therapeutics rises after positive safety data on sinus drug
30/06/2021 12:47
** Drug developer's shares LYRA.O up 8.4% at $9.05
premarket
** Co says two doses of its treatment for chronic
rhinosinusitis treatment were safe and well-tolerated in a study
in 24 patients urn:newsml:reuters.com:*:nGNXbfWRlw
** Co expects to initiate late-stage study of the therapy,
LYR-210, around the end of the year
** Chronic rhinosinusitis is a condition that causes nasal
congestion and is estimated to affect about 14 million patients
in the United States
** LYRA's therapy is an implant that is designed to be an
alternative to sinus surgery for chronic rhinosinusitis patients
** The drug last year failed to meet the main goal of a
mid-stage study, as the company said COVID-19 had curtailed
enrollment of patients urn:newsml:reuters.com:*:nL4N2IN3J1
** Up to Tuesday's close, stock had fallen nearly 27% YTD
(Reporting by Manas Mishra in Bengaluru)
((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))