|Bid||7.60 x 1000|
|Ask||7.96 x 1100|
|Day's Range||7.63 - 8.09|
|52 Week Range||7.62 - 17.30|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
A look at the shareholders of Lyra Therapeutics, Inc. ( NASDAQ:LYRA ) can tell us which group is most powerful...
Based in Watertown, Massachusetts, Lyra Therapeutics, Inc. (LYRA) is a clinical stage biotechnology company, which develops a proprietary technology platform. The platform provides a treatment alternative to patients seeking care for ear, nose and throat diseases for which conventional medical approaches are either a second treatment option or have already failed to produce needed results. Lyra’s therapies are based on a single administration of anti-inflammatory bioresorbable polymer implants that are applied directly on the inflamed mucosa. These implants act continually for a sustained period of several months. The research and development pipeline includes LYR-210 and LYR-220, two innovative therapeutic solutions for the treatment of chronic rhinosinusitis. LYR-220 is intended for patients who continue to suffer from the disease despite previous sinus surgery. Shares are currently changing hands for $10.80 per piece, following a 10.8% decline so far this year. The share price is near the lower limit of the 52-week range; therefore, it does not look expensive relative to the metric. The company is on track to deliver two crucial advancements concerning its clinical development pipeline, which could provide such a boost to the share price that it may beat last year's peak. Full Year 2020 Earnings Lyra Therapeutics reported a net loss of $22.1 million for the full year of 2020, representing a $5.8 million deterioration compared to the net loss in full year 2019. The balance sheet held up well, though, and total funds available in cash and equivalents decreased only marginally, to $74.6 million as of Dec. 31. The company is spending approximately $20 million to $25 million in operating expenses every year, so Lyra’s cash on hand should be enough to finance operations for the next three years. Recent Developments The most recent findings from Lyra’s Phase 2 study points to LYR-210 as a potential alternative treatment to invasive nasal surgery, reducing the number of visits that chronic rhinosinusitis patients have to undergo at the ear, nose, throat specialist every year. Additionally, the company has strengthened its team, appointing Dr. Robert Kern, a prominent physician in otolaryngology and the world’s top expert in chronic rhinosinusitis, as Chief Medical Officer, and Nancy L. Snyderman, an otolaryngology expert and former Chief Medical Editor at NBC News, as a member of the board of directors. Catalysts Chronic rhinosinusitis is an inflammatory condition affecting both the nose and sinuses, with a hefty production and accumulation of mucus that makes breathing problematic. If not treated, the inflamed mucosa can become a favorable ground for the proliferation of bacteria, causing more severe symptoms that compromise quality of life significantly for the patient. The company estimates that in the US, more than 12% of the total adult population suffers from rhinosinusitis, making it one of the most common diseases among Americans. Many of its sufferers progress towards a chronic form of the disease. Looking ahead, following a Phase 2 meeting with the US Food and Drug Administration, LYR-210 should initiate a Phase 3 pivotal trial before the end of the current year, while LYR-220 is expected to enter a Phase 2 study in the second part of 2021. Provided that the results are positive and the new drugs will be well promoted, data readouts for these trials could reflect potential catalysts that send shares on an upward trajectory. TipRanks' Smart Score According to TipRanks' Smart Score, which analyzes stocks based on eight factors extracted from our unique datasets, Lyra has a Smart Score of 2, meaning it will likely underperform the broader market. (See Lyra Therapeutics stock analysis on TipRanks) Summary Lyra Therapeutics is working on innovative therapies for chronic rhinosinusitis, a medical condition requiring regular monitoring and treatment. The stock is not expensive, and its share price could receive a significant boost following two pivotal events, which are expected to take place before the end of the current year. Disclosure: On the date of publication, the author did not have (either directly or indirectly) any positions in the securities mentioned in this article. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.
Lyra Therapeutics (LYRA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.