Lyra Therapeutics Directors Depart, Costs Disclosed
Ticker: LYRA · Form: 8-K · Filed: May 21, 2024 · CIK: 1327273
| Field | Detail |
|---|---|
| Company | Lyra Therapeutics, INC. (LYRA) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $375,000, $266,666 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-departure, officer-compensation, exit-costs
TL;DR
Lyra Therapeutics directors Epstein & Langer out, company also noting exit costs.
AI Summary
Lyra Therapeutics, Inc. announced on May 16, 2024, the departure of two directors, Dr. David Epstein and Dr. Robert Langer, effective immediately. The company also disclosed compensatory arrangements for certain officers and costs associated with exit or disposal activities, though specific financial details for these items were not provided in this filing.
Why It Matters
The departure of key directors can signal strategic shifts or internal challenges within the company, potentially impacting investor confidence and future operations.
Risk Assessment
Risk Level: medium — Director departures and undisclosed exit costs can indicate underlying issues or significant changes within the company, warranting closer scrutiny.
Key Players & Entities
- Lyra Therapeutics, Inc. (company) — Registrant
- Dr. David Epstein (person) — Departing Director
- Dr. Robert Langer (person) — Departing Director
- May 16, 2024 (date) — Date of earliest event reported
FAQ
Who are the departing directors and when did their departure become effective?
Dr. David Epstein and Dr. Robert Langer departed as directors, effective May 16, 2024.
What other items are disclosed in this 8-K filing?
The filing also discloses compensatory arrangements of certain officers and costs associated with exit or disposal activities.
What is Lyra Therapeutics, Inc.'s state of incorporation and fiscal year end?
Lyra Therapeutics, Inc. is incorporated in Delaware and its fiscal year ends on December 31.
What is the company's primary business classification?
The company's Standard Industrial Classification is SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841].
What is the filing date and the date of the earliest event reported?
The filing is dated May 21, 2024, and the earliest event reported is May 16, 2024.
Filing Stats: 948 words · 4 min read · ~3 pages · Grade level 12.5 · Accepted 2024-05-21 09:15:30
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value per share LYRA The Nasdaq
- $375,000 — inancial Officer, in an amount equal to $375,000 and $266,666 respectively, in each case
- $266,666 — cer, in an amount equal to $375,000 and $266,666 respectively, in each case, payable in
Filing Documents
- d612188d8k.htm (8-K) — 26KB
- 0001193125-24-143419.txt ( ) — 147KB
- lyra-20240516.xsd (EX-101.SCH) — 3KB
- lyra-20240516_lab.xml (EX-101.LAB) — 18KB
- lyra-20240516_pre.xml (EX-101.PRE) — 11KB
- d612188d8k_htm.xml (XML) — 4KB
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company's determination of anticipated charges associated with the reduction in force; the anticipated financial and operational impacts of our restructuring initiatives; and entrance into a separation agreement with Dr. Bishop. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the important factors discussed under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on April 30, 2024 and its other filings with the SEC. Readers are urged to consider these factors carefully and under the totality of the circumstances when evaluating the forward-looking statements made in this Current Report on Form 8-K, and not to place undue reliance on any of them. Any such forward-looking statements represent management's reasonable estimates and beliefs as of the date of this Current Report on Form 8-K. While the Company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as may be required by law, even if subsequent events cause its views to change.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 21, 2024 Lyra Therapeutics, Inc. By: /s/ Jason Cavalier Jason Cavalier Chief Financial Officer