Lyra Therapeutics Files Q2 2024 10-Q

TL;DR

Lyra Therapeutics filed its Q2 10-Q. Financials and plan details updated.

AI Summary

Lyra Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial activities, including details related to its "Twenty Thousand Twenty Incentive Award Plan" and "Securities Purchase Agreement" transactions. Specific financial figures and operational updates are detailed within the filing.

Why It Matters

This filing provides investors with an update on Lyra Therapeutics' financial health and operational activities for the second quarter of 2024, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and operational updates for a publicly traded company, which inherently carries investment risk.

Key Numbers

• Q2 2024 — Reporting Period (The financial period covered by this 10-Q filing.)
• June 30, 2024 — End of Reporting Period (The specific date marking the end of the financial quarter reported.)
• August 14, 2024 — Filing Date (The date Lyra Therapeutics submitted this 10-Q to the SEC.)

Key Players & Entities

• Lyra Therapeutics, Inc. (company) — Filer of the 10-Q
• 0000950170-24-097042 (other) — Accession Number for the filing
• 20240630 (date) — Period of report for the 10-Q
• 20240814 (date) — Filing date of the 10-Q
• 480 ARSENAL WAY WATERTOWN MA 02472 (address) — Business and Mail Address
• 617-373-4600 (phone) — Business Phone Number
• Lyra Therapeutics, Inc. (company) — Former Company Name (Arsenal Medical, Inc.)
• Arsenal Vascular, Inc. (company) — Former Company Name
• 480 Biomedical, Inc. (company) — Former Company Name
• Twenty Thousand Twenty Incentive Award Plan (plan) — Employee incentive plan mentioned

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share LYRA The Nasdaq

Filing Documents

• lyra-20240630.htm (10-Q) — 2267KB
• lyra-ex31_1.htm (EX-31.1) — 16KB
• lyra-ex31_2.htm (EX-31.2) — 16KB
• lyra-ex32_1.htm (EX-32.1) — 9KB
• lyra-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-097042.txt ( ) — 8505KB
• lyra-20240630.xsd (EX-101.SCH) — 1280KB
• lyra-20240630_htm.xml (XML) — 1292KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION 33 Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 83 Item 3. Defaults Upon Senior Securities 83 Item 4. Mine Safety Disclosures 83 Item 5. Other Information 83 Item 6. Exhibits 84

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. LYRA THERAPEUTICS, INC. Condensed Consolidated B alance Sheets (unaudited) (in thousands, except share data) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 31,905 $ 22,353 Short-term investments 35,593 80,400 Prepaid expenses and other current assets 1,937 2,068 Total current assets 69,435 104,821 Property and equipment, net 1,665 2,043 Operating lease right-of-use assets 21,490 33,233 Restricted cash 1,992 1,392 Other assets — 1,111 Total assets $ 94,582 $ 142,600 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,971 $ 3,131 Restructuring liability 3,127 — Accrued expenses and other current liabilities 6,095 9,374 Operating lease liabilities 4,269 5,434 Deferred revenue 814 1,658 Total current liabilities 19,276 19,597 Operating lease liabilities, net of current portion 32,479 21,447 Deferred revenue, net of current portion 11,850 12,136 Total liabilities 63,605 53,180 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock, $ 0.001 par value, 10,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 200,000,000 shares authorized at June 30, 2024 and December 31, 2023; 65,455,735 and 57,214,550 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 65 57 Additional paid-in capital 412,854 400,685 Accumulated other comprehensive income (loss), net of tax ( 4 ) 33 Accumulated deficit ( 381,938 ) ( 311,355 ) Total stockholders' equity 30,977 89,420 Total liabilities and stockholders' equity $ 94,582 $ 142,600 See accompanying notes to unaudited condensed consolidated financial statements. 2 LYRA THERAPE

View Full Filing

View this 10-Q filing on SEC EDGAR