NASDAQ$LYRA
Lyra Therapeutics Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Lyra Therapeutics reported financial results for the second quarter ended June 30, 2022, and highlighted recent accomplishments.
Lyra Therapeutics reported a net loss of $14.5 million for the quarter ended June 30, 2022. The company's cash and cash equivalents as of June 30, 2022 were $120.7 million, which is expected to fund planned operations through mid-2024. Enrollment is ongoing for the ENLIGHTEN I Phase 3 trial, and the first patient was treated in Australia in the Part 1/non-randomized portion of the BEACON Phase 2 trial.
- Reported continued progress for ongoing clinical programs designed to address the full spectrum of CRS patients.
- Pivotal ENLIGHTEN Phase 3 program for LYR-210 is actively enrolling patients with chronic rhinosinusitis and surgically naïve anatomy
- BEACON Phase 2 trial for LYR-220 is continuing enrollment of CRS patients with recurrent CRS despite surgical intervention.
- In April 2022, secured $96.3 million in net proceeds in an at-the-market, private placement of common stock that is expected to support two pivotal data readouts; cash runway extended until mid-2024
Headline financials
Revenue & EPS history
Lyra · Revenue · Quarterly
$407K
Revenue by segment
Lyra · $407K total across 1 segment · Q2 2022
- Collaboration revenue$407K—100.0%
Forward guidance
The company expects its cash and cash equivalents balance to be sufficient to fund its planned operations through mid-2024. Enrollment in the pivotal ENLIGHTEN I Phase 3 trial is ongoing, while the ENLIGHTEN II Phase 3 trial is actively screening patients and we expect to enroll the first patient in the third quarter. Part 2/randomized portion of the BEACON Phase 2 trial is anticipated to commence in the U.S. in the third quarter.
Tailwinds
- Cash and cash equivalents expected to fund operations through mid-2024
- Enrollment in ENLIGHTEN I Phase 3 trial is ongoing
- ENLIGHTEN II Phase 3 trial is actively screening patients
- First patient expected to enroll in ENLIGHTEN II in Q3
- Part 2 of BEACON Phase 2 trial anticipated to commence in the U.S. in Q3
Headwinds
- Incurred significant losses since inception
- Expects to incur additional losses for the foreseeable future
- Needs additional funding, which may not be available
- Limited operating history
- Has no approved products
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
-1.6%
Avg return
Earnings day
-3.1%
Avg return
5 days after
-1.7%
Avg return
30 days after
29%
7 / 24 earnings
Positive
+11.0%
Q1 2024
Best reaction
-25.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.0% | +0.1% | +52.2% | |
| Q3 2025 | -1.0% | -5.9% | -6.3% | |
| Q2 2025 | +9.5% | +8.3% | -6.8% | |
| Q1 2025 | -6.3% | -17.3% | +102.9% | |
| Q4 2024 | -4.1% | -14.8% | -39.2% | |
| Q3 2024 | -25.4% | -35.8% | -23.8% | |
| Q2 2024 | -3.3% | +4.0% | -6.6% | |
| Q1 2024 | +11.0% | -14.8% | -93.0% | |
| Q4 2023 | +2.8% | +1.0% | -14.5% | |
| Q3 2023 | +0.0% | +2.4% | +33.4% | |
| Q2 2023 | +5.4% | +13.8% | +20.8% | |
| Q1 2023 | -6.8% | -2.1% | +3.6% | |
| Q4 2022 | +6.1% | +13.8% | +22.4% | |
| Q3 2022 | -17.9% | -20.3% | -35.8% | |
| Q2 2022 | -1.7% | +0.6% | -5.2% | |
| Q1 2022 | +7.1% | +7.7% | +18.1% | |
| Q4 2021 | -4.0% | -5.8% | +22.8% | |
| Q3 2021 | -1.0% | -0.4% | -32.9% | |
| Q2 2021 | -3.9% | -0.4% | +17.6% | |
| Q1 2021 | -1.0% | -5.6% | +11.9% | |
| Q4 2020 | -4.8% | -2.2% | -20.9% | |
| Q3 2020 | +1.0% | -1.8% | -13.3% | |
| Q2 2020 | -0.9% | +0.9% | -17.8% | |
| Q1 2020 | -0.5% | +0.1% | -31.6% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro