Lyra Therapeutics shares surge 40.20% premarket after announcing confirmatory Phase 3 trial for LYR-210 following positive ENLIGHTEN 2 data.

Lyra Therapeutics surged 40.20% in premarket trading following the announcement of a confirmatory Phase 3 trial for LYR-210 targeting chronic rhinosinusitis without nasal polyps, a key step toward an NDA submission. The company also reported a 52% year-over-year reduction in net losses to $6.0 million in Q3 2025, with cash reserves of $22.1 million projected to fund operations through Q3 2026. Positive ENLIGHTEN 2 Phase 3 results presented at the AAO-HNSF conference in October 2025 further reinforced confidence in LYR-210’s potential. These developments—advancing regulatory milestones, improved financial efficiency, and clinical progress—collectively drove the sharp premarket gain, reflecting optimism about the pipeline’s commercial viability and reduced near-term liquidity risks.