Lyra Therapeutics (LYRA) AI Stock Analysis

• Market Cap: $11.82M
• Dividend Yield: N/A
• Average Volume (3M): 25.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.45
• Revenue Growth: -57.69%
• EPS Growth: 63.76%
• Country: US
• Employees: 30
• Sector: Healthcare
• Sector Strength: 47
• Industry: Biotechnology
• EPS (TTM): -5.51
• Shares Outstanding: 1,644,454
• 10 Day Avg. Volume: 15,816
• 30 Day Avg. Volume: 25,218
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 19.19
• Enterprise Value/Gross Profit: 25.93
• Enterprise Value/Ebitda: -0.42
• 1Y Price Target: $23.00
• Price Target Upside: 219.89% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 47 Neutral
• Price Target: $7.00 ▼(-2.64% Downside)

Lyra Therapeutics faces significant financial and valuation challenges, with ongoing losses and a negative P/E ratio. The stock's technical indicators suggest a bearish trend. While recent clinical trial successes and strategic plans offer some hope, the risk of Nasdaq delisting due to financial instability is a critical concern.

Positive Factors

Clinical Trial Success

The recent positive pivotal Phase 3 ENLIGHTEN-2 trial challenges the previous negative results from Phase 3 ENLIGHTEN-1, offering new hope for the development of LYR-210.

Market Potential

If the pursuit of LYR-210 FDA approval focuses on the CRSsNP patient population, it targets roughly 70% of CRS patients, which represents a significant portion of the market.

Negative Factors

Stock Price Concerns

Shares are seen as range-bound without a meaningful data catalyst, leading to a Neutral rating reiteration.

Strategic Challenges

The greatest strategic hurdle for LYRA is reconciling the discrepancy between the positive ENLIGHTEN-2 trial and the negative ENLIGHTEN-1 trial.

Lyra Therapeutics Business Overview & Revenue Model

Company Description

Lyra Therapeutics, Inc., a clinical-stage biotechnology company, focuses on the development and commercialization of anti-inflammatory therapies for the treatment of patients with chronic rhinosinusitis. Its technology is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration. The company's product candidates include LYR-210, an anti-inflammatory implantable drug matrix which is in Phase III clinical trial for the treatment of chronic rhinosinusitis (CRS); and LYR-220 for CRS patients who have failed previous medical management and continue to require treatment to manage CRS symptoms. It has a collaboration agreement with LianBio Inflammatory Limited to develop and commercialize LYR-210 in mainland China, Hong Kong, Taiwan, Macau, South Korea, Singapore, and Thailand. The company was formerly known as 480 Biomedical, Inc. and changed its name to Lyra Therapeutics, Inc. in July 2018. Lyra Therapeutics, Inc. was incorporated in 2005 and is headquartered in Watertown, Massachusetts.

How the Company Makes Money

Lyra Therapeutics primarily generates revenue through the development and potential commercialization of its therapeutic products. The company focuses on advancing its drug delivery platform and product candidates through clinical trials, seeking regulatory approvals to eventually bring these products to market. Revenue streams are expected to come from the sale of approved products, partnerships, and collaborations with other pharmaceutical companies, as well as potential licensing agreements. However, as a clinical-stage company, Lyra currently depends on funding from investors and strategic partnerships to finance its research and development activities until its products are commercially viable.

Lyra Therapeutics Financial Statement Overview

Summary

Lyra Therapeutics faces significant financial challenges with ongoing losses, negative cash flows, and increased leverage. Despite high operational cash efficiency, the shrinking equity base and reliance on external funding are concerning.

Income Statement

Lyra Therapeutics has experienced a decrease in total revenue from $1,558,000 in 2023 to $1,534,000 in 2024. The net profit margin remains negative, reflecting ongoing losses. Despite revenue growth in prior years, the company struggles with high operating losses, as evidenced by the negative EBIT and EBITDA margins.

Balance Sheet

The company's debt-to-equity ratio has increased, indicating higher leverage, but remains manageable. Stockholders' equity has decreased significantly, suggesting potential financial instability. Despite a high equity ratio, the reduction in total assets and equity raises concerns about long-term sustainability.

Cash Flow

Lyra has a negative free cash flow, indicating cash outflows exceeding inflows. Operating cash flow remains negative, though there is a high operating cash flow to net income ratio, reflecting cash efficiency in operations. However, the reliance on financing activities for cash inflows indicates a need for external funding.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	770.00K	1.53M	1.56M	1.36M	285.00K	0.00
Gross Profit	570.00K	1.53M	1.56M	296.00K	-716.00K	-95.00K
EBITDA	-34.86M	-60.26M	-65.25M	-53.92M	-42.61M	-22.11M
Net Income	-38.84M	-93.44M	-62.68M	-55.28M	-43.51M	-22.05M
Balance Sheet
Total Assets	52.57M	66.35M	142.60M	109.97M	54.87M	80.83M
Cash, Cash Equivalents and Short-Term Investments	29.78M	40.58M	102.75M	97.89M	45.75M	74.59M
Total Debt	32.48M	34.38M	26.88M	4.18M	1.45M	2.44M
Total Liabilities	50.95M	54.75M	53.18M	29.21M	20.55M	6.34M
Stockholders Equity	1.62M	11.59M	89.42M	80.75M	34.32M	74.49M
Cash Flow
Free Cash Flow	-43.02M	-72.35M	-64.35M	-43.55M	-29.20M	-22.92M
Operating Cash Flow	-43.01M	-70.01M	-63.30M	-43.38M	-25.82M	-21.14M
Investing Cash Flow	36.27M	80.31M	-12.58M	-65.01M	-3.38M	-1.77M
Financing Cash Flow	4.62M	8.53M	65.69M	96.26M	359.00K	87.70M

Lyra Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LYRA, the sentiment is Negative. The current price of 7.19 is above the 20-day moving average (MA) of 6.98, below the 50-day MA of 8.33, and below the 200-day MA of 8.82, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 43.74 is Neutral, neither overbought nor oversold. The STOCH value of 34.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LYRA.

Lyra Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.83B	-0.18	-40.10%	2.29%	21.46%	-2.03%
LYRA	47 Neutral	$11.82M	―	-238.26%	―	-57.69%	63.76%
BCLI	40 Underperform	$7.26M	―	234.90%	―	―	47.54%
GTBP	34 Underperform	$4.06M	―	-181.99%	―	―	46.96%
GNPX	―	$5.67M	―	-602.64%	―	―	―
SPRBD	35 Underperform	$4.28M	―	-133.62%	―	-86.43%	-8.91%
CDT	―	$4.75M	―		―	―	―

Lyra Therapeutics Corporate Events

Lyra Therapeutics Receives Nasdaq Deficiency Letter

On August 20, 2025, Lyra Therapeutics received a Deficiency Letter from Nasdaq indicating that the company’s stockholders’ equity, reported at $1.6 million as of June 30, 2025, did not meet the minimum requirement of $2.5 million for continued listing on the Nasdaq Capital Market. Although this has no immediate effect on the trading of its stock, Lyra has until October 4, 2025, to submit a plan to regain compliance. The company is exploring various strategies to meet Nasdaq’s requirements, but there is no guarantee of acceptance or successful compliance, which could lead to potential delisting.

Lyra Therapeutics Announces Leadership Changes in August 2025

On August 1, 2025, Lyra Therapeutics announced the immediate termination of Dr. Harlan W. Waksal’s employment as Executive Chairman, following a mutual agreement. Dr. Waksal also resigned from the Board of Directors, and Maria Palasis, the company’s President and CEO, was appointed as the new Chair of the Board, while Jim Tobin continues as Lead Independent Director.

Lyra Therapeutics Secures $4.3M in Direct Offering

On June 26, 2025, Lyra Therapeutics entered into a securities purchase agreement with accredited and institutional investors, resulting in a registered direct offering and concurrent private placement of shares and warrants, expected to yield approximately $4.3 million in net proceeds. The funds are intended for working capital and potential clinical development of LYR-210, reflecting the company’s strategic efforts to advance its product pipeline despite past challenges, including the failure to meet the primary endpoint in a Phase 3 clinical trial and significant workforce reductions.

Lyra Therapeutics Regains Nasdaq Compliance in June 2025

On June 13, 2025, Lyra Therapeutics, Inc. received a notification from Nasdaq confirming that its common stock maintained a minimum bid price of $1.00 or more for 12 consecutive business days, from May 28, 2025, to June 12, 2025. This achievement means the company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), closing the matter.

Lyra Therapeutics Unveils Strategic Plans for LYR-210

On June 9, 2025, Lyra Therapeutics announced the posting of a corporate presentation detailing their progress and strategic plans for LYR-210, following the successful ENLIGHTEN 2 Phase 3 trial. The company aims to advance LYR-210 for CRS with polyp indication, with a Phase 3 trial planned for early 2026, highlighting its commitment to addressing the needs of CRS patients and expanding its pipeline opportunities.

Lyra Therapeutics Announces Positive Phase 3 Trial Results

On June 2, 2025, Lyra Therapeutics announced positive results from the ENLIGHTEN 2 Phase 3 clinical trial of LYR-210, which met its primary and key secondary endpoints for treating chronic rhinosinusitis (CRS) at 24 weeks. The trial demonstrated statistically significant improvements in symptoms for patients both with and without nasal polyps, positioning Lyra to advance regulatory strategies and potentially become a leader in CRS treatment.