NASDAQ$LYRA
Lyra Therapeutics Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Lyra Therapeutics reported financial results for the second quarter ended June 30, 2023 and provided a corporate update.
Lyra Therapeutics reported a net loss of $15.6 million for the second quarter of 2023. The company's cash, cash equivalents, and short-term investments totaled $116.2 million as of June 30, 2023, which is expected to fund operations into the first quarter of 2025. The company is advancing its clinical programs for LYR-210 and LYR-220.
- Enrollment in the ENLIGHTEN I pivotal trial of LYR-210 is expected to complete in the coming weeks, with data expected in the first half of 2024.
- Initial topline results from the BEACON Phase 2 trial of LYR-220 are anticipated in September 2023.
- A private placement in May 2023 resulted in net proceeds of $46.7 million.
- Cash, cash equivalents and short-term investments as of June 30, 2023 were $116.2 million.
Headline financials
Revenue & EPS history
Lyra · Revenue · Quarterly
$458K
Revenue by segment
Lyra · $410K total across 1 segment · Q1 2023
- Collaboration revenue$410K—100.0%
Forward guidance
Lyra Therapeutics anticipates completing enrollment in the ENLIGHTEN I pivotal trial and reporting initial topline results from the BEACON Phase 2 trial. The company expects its cash balance to fund operations into the first quarter of 2025.
Tailwinds
- Completion of enrollment in ENLIGHTEN I trial expected soon.
- Initial topline results from BEACON Phase 2 trial expected in September 2023.
- Cash balance sufficient to fund operations into Q1 2025.
- Advancing in-house manufacturing capabilities.
- LYR-210 data expected in the first half of 2024.
Headwinds
- Incurred significant losses since inception and expects to incur additional losses for the foreseeable future.
- Need for additional funding, which may not be available.
- Limited operating history and no approved products.
- Product candidates are in various stages of development.
- Never scaled up an in-house manufacturing facility for clinical or commercial use.
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 2023
-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 | — | — | — |
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