In This Article:
June 2 - Shares of Lyra Therapeutics (NASDAQ:LYRA) soared more than 500% on Monday after the company reported encouraging Phase 3 results for its sinus implant treatment, LYR-210.
The ENLIGHTEN 2 study met its primary goal, showing statistically significant improvement in chronic rhinosinusitis (CRS) symptoms at 24 weeks. The therapy helped reduce nasal obstruction, discharge, and facial pressure, with a p-value of 0.0078.
Lyra also reported success on key secondary endpoints. These included improvements in broader symptom scores and patient quality-of-life measures, such as the SNOT-22 index. Benefits were observed from week 4 and sustained over the 6-month trial. The safety profile was comparable to the sham group.
The company also shared findings from a combined analysis of patients with nasal polyps from both ENLIGHTEN 1 and 2 trials. While not all results reached statistical significance, multiple efficacy signals were noted.
Lyra plans to engage the U.S. Food and Drug Administration on a possible New Drug Application for patients without nasal polyps and may expand trials to include polyp patients.
The stock jump reflects investor optimism around LYR-210's potential to become a long-acting option for CRS patients who don't respond to standard treatments.
This article first appeared on GuruFocus.