Lyra Therapeutics (LYRA) Misses Q1 EPS by 12c

Lyra Therapeutics (NASDAQ: LYRA) reported Q1 EPS of ($0.60), $0.12 worse than the analyst estimate of ($0.48).

“We were thrilled to present the full data set from our LANTERN Phase 2 Study of LYR-210 at the virtual COSM event, and to share data that we believe demonstrates how effective our product candidate is at treating chronic rhinosinusitis. Dr. Cervin did a wonderful job detailing the symptom improvements observed in both polyp and non-polyp patients, as well as revealing evidence of disease modification through patient’s improved bilateral ethmoid Zinreich scores,” said Maria Palasis, Ph.D., President and Chief Executive Officer of Lyra Therapeutics. “Additionally, we announced a separate analysis of the LANTERN study that showed statistically significant improvement in a composite of three cardinal symptoms, which includes nasal blockage, nasal discharge and facial pain, that we believe could inform our design for a pivotal Phase 3 study.”

Dr. Palasis continued: “Turning to the near term, we intend to share results from our PK study of LYR-210 in the second quarter, and to share feedback from our End-of Phase-2 meeting with the FDA around mid-year. Subject to guidance from the FDA, we then plan to initiate a Phase 2 trial for LYR-220 in the second half of 2021, and a Phase 3 trial of LYR-210 around the end of the year.”

For earnings history and earnings-related data on Lyra Therapeutics (LYRA) click here.

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