Lyra Therapeutics (LYRA) Company Overview

Lyra Therapeutics (LYRA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Lyra Therapeutics, Inc. (LYRA) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to loss of $0.27 per share a year ago.

-- Topline Results Expected Q2 2025 -- WATERTOWN, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (Nasdaq: LYRA) (“Lyra” or the “Company”), a clinical-stage biotechnology company developing long-acting anti-inflammatory therapies for the localized treatment of chronic rhinosinusitis (CRS), today announced that the pivotal Phase 3 ENLIGHTEN 2 clinical trial of LYR-210 in adult patients with CRS who have not had prior ethmoid sinus surgery, is fully enrolled. LYR-210 is a bioresorbable nasal implant designed to deliver six months of continuous anti-inflammatory medication (mometasone furoate) to the sinonasal passages for the treatment of CRS. Topline results from ENLIGHTEN 2 are expected in Q2 2025.

WATERTOWN, Mass., Sept. 27, 2024 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (Nasdaq: LYRA), (“Lyra” or the “Company”), a clinical-stage biotechnology company developing long-acting anti-inflammatory therapies for the localized treatment of chronic rhinosinusitis (CRS), today announced that the Company will present results from the Phase 3 ENLIGHTEN 1 study for LYR-210, the company's lead product candidate for CRS, at the 70th Annual Meeting of the American Rhinologic Society (ARS), taking place September 27-28 in Miami. The Company will also present additional results from the Phase 2 BEACON study for LYR-220 in adult patients with CRS who have had prior ethmoid sinus surgery at the Annual Meeting of the American Academy of Otolaryngology–Head and Neck Surgery (AAO-HNS), taking place September 28 - October 1 in Miami.

Lyra Therapeutics, Inc. (LYRA) came out with a quarterly loss of $0.29 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.33 per share a year ago.

Lyra Therapeutics, Inc. (LYRA) reported a quarterly loss of $0.35 per share, which was higher than the Zacks Consensus Estimate of a loss of $0.26 per share. This is an improvement from the loss of $0.44 per share reported in the same quarter last year.

Lyra Therapeutics (LYRA) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Lyra Therapeutics (LYRA) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

The consensus price target hints at a 101.8% upside potential for Lyra Therapeutics (LYRA). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.