Lyra Therapeutics Faces Financial Challenges Amid Clinical Setbacks
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Lyra Therapeutics, Inc. (LYRA) faces significant financial challenges following a key clinical trial failure. In Q3 2025, the company reported a net loss of $5.98 million, down from $11.87 million the previous year. Cash reserves fell to $22.1 million from $40.6 million, raising concerns about operational sustainability. To address these issues, Lyra is seeking to sublease properties and reduce workforce costs while exploring strategic options to maintain operations and evaluate its lead product candidate, LYR-210.
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