Lyra Therapeutics soars after nasal drug meets trial goals in late-stage study

Lyra Therapeutics

02/06/2025 14:29

** Shares of drug developer Lyra Therapeutics LYRA.O soar 555% to $31.80 premarket

** Lyra's experimental drug LYR-210 in a late-stage trial reduced symptoms of a nasal disease known as Chronic Rhinosinusitis (CRS), including nasal congestion, discharge, and facial pain, in patients without nasal growths (polyps)

** Chronic rhinosinusitis is a chronic inflammation of the nasal passages and sinuses

** The drug met the main and secondary goals in the trial

** LYR-210 is a bioabsorbable nasal implant that delivers six months of continuous dosage for patients with the condition

** The company said it plans to pursue FDA approval of the drug for patients without nasal polyps and continue developing the drug for people with nasal polyps

** As of last close, LYRA stock down 52.2% YTD

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))