William Blair Starts Lyra Therapeutics (LYRA) at Outperform
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William Blair analyst Tim Lugo initiates coverage on Lyra Therapeutics (NASDAQ: LYRA) with an Outperform rating.
The analyst commented, "Lyra is a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat (ENT) diseases. The company’s lead product, LYR-210, leverages its proprietary XTreo technology platform to provide sustained local delivery of small molecule therapies for the treatment of surgically naïve chronic rhinosinusitis (CRS) patients. The active ingredient in LYR-210 is mometasone furoate (MF), a corticosteroid that is the active ingredient in multiple FDA-approved therapies and widely used as a nasal spray for the treatment of CRS."
Shares of Lyra Therapeutics closed at $14.43 yesterday.
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