Lyra Therapeutics surges after $101 mln equity raise
08/04/2022 15:10
** Lyra Therapeutics Inc's LYRA.O shares surge 41.2% to
$6.10, about 5-mth high, after equity raise
** Shares last up 21.1% at $5.23; trading volume of ~2.5 mln
shares so far compares to stock's 90-day avg of ~43k, per
Refinitiv data
** Ear, nose and throat (ENT) drug developer sold 23.8 mln
shares in private placement of shares and pre-funded warrants at
$4.22 urn:newsml:reuters.com:*:nPn2QcxQza
** Co has 13 mln shares outstanding and ~9.8 mln of free
float, per Refinitiv
** Including move on Fri, shares have lost roughly half
their value in past year
** LYRA went public in May 2020 IPO priced at $16
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))