Lyra Therapeutics Q3 net loss narrows
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Lyra Therapeutics reported a Q3 2025 net loss of $6.0 million, down from $11.9 million last year. The company plans a new Phase 3 trial for LYR-210, targeting NDA submission, with cash reserves expected to fund operations into Q3 2026. R&D expenses decreased due to the completion of the ENLIGHTEN 2 trial, while G&A expenses were reduced through lower employee costs. Analysts currently rate the stock as a "hold," with a median 12-month price target of $23.00, significantly above its recent closing price of $4.24.
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