Lyra Therapeutics 2025 Q3 Earnings Narrowed Losses and 49.6% Reduction in Net Loss

Lyra Therapeutics reported fiscal 2025 Q3 earnings on Nov 13, 2025, with a 49.6% reduction in net losses to $-5.98 million compared to $-11.87 million in 2024 Q3. The company’s results exceeded expectations, with a 62.7% improvement in per-share losses, and provided guidance aligning with prior expectations for operational runway through Q3 2026.

Revenue

Lyra Therapeutics’ total revenue plummeted by 87.2% to $25,000 in 2025 Q3, down from $195,000 in 2024 Q3. Collaboration revenue accounted for the entirety of the $25,000 total, reflecting a sharp decline in business activity.

Earnings/Net Income

The company narrowed its per-share loss to $3.38 in 2025 Q3, a 62.7% improvement from $9.07 in 2024 Q3, while reducing its net loss by 49.6%. Despite these gains, Lyra Therapeutics has sustained losses for four consecutive years, underscoring ongoing financial challenges.

Post-Earnings Price Action Review

The strategy of buying Lyra Therapeutics shares after its Q3 2025 earnings report and holding for 30 days showed favorable performance over the past three years, with a cumulative return of 45.5% and an average annual return of 13.3%. This outperformed the S&P 500’s 8.2% average annual return during the same period.

CEO Commentary

Maria Palasis, Ph.D., emphasized progress in advancing LYR-210 for chronic rhinosinusitis (CRS) without nasal polyps, citing positive ENLIGHTEN 2 trial results and reduced R&D (-32%) and G&A (-44%) expenses. While acknowledging prior setbacks, she expressed optimism about the FDA-aligned clinical path.

Guidance

Lyra Therapeutics expects $22.1 million in cash and equivalents to fund operations through Q3 2026. The company plans to initiate a confirmatory Phase 3 trial for LYR-210 post-FDA meeting and aims to submit an NDA, with risks including clinical uncertainties and capital needs.

Additional News

1. Shareholder Activity: Perceptive Advisors LLC sold 70,390 shares of LYRA for $344,214 in late October 2025, reflecting investor caution.

2. Clinical Strategy: Lyra Therapeutics announced a Phase 3 trial for LYR-210 following an FDA meeting, leveraging positive ENLIGHTEN 2 data.

3. Financing Update: The company secured $5 million via a registered direct offering in June 2025, extending its cash runway.

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Lyra Therapeutics’ Q3 2025 earnings highlight a strategic pivot toward cost efficiency and clinical advancement, with mixed investor sentiment. The stock’s post-earnings performance suggests resilience amid a challenging biotech landscape.