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Lyra Therapeutics (NASDAQ:LYRA) Chief Financial Officer Jason Cavalier sold 684 shares of common stock on July 10, 2025, at a price of $8.91, for a total transaction value of $6,094. The sale comes as the stock trades near $8.71, down about 43% over the past year and significantly below its 52-week high of $37.50.
According to a Form 4 filing with the Securities and Exchange Commission, the shares were sold to cover taxes upon the vesting of restricted stock units. InvestingPro analysis reveals the company faces challenges with weak gross profit margins and rapid cash burn, though it maintains a healthy current ratio of 2.96. Following the transaction, Cavalier directly owns 519,316 shares of Lyra Therapeutics. For deeper insights into LYRA’s financial health and 11 additional ProTips, check out InvestingPro.
In other recent news, Lyra Therapeutics has reported significant developments that could impact investor interest. The company successfully raised approximately $5 million through a registered direct offering of common stock and warrants, facilitated by H.C. Wainwright & Co. This financing is intended to support working capital and potential clinical development expenses for their LYR-210 product candidate. Additionally, Lyra Therapeutics regained compliance with Nasdaq’s minimum bid price requirement, resolving previous non-compliance issues.
The company’s Phase 3 ENLIGHTEN-2 trial for LYR-210 showed positive results, meeting both primary and key secondary endpoints for treating chronic rhinosinusitis. This success has led H.C. Wainwright to raise its price target for the company’s stock to $16, though they maintain a Neutral rating. BTIG analysts also maintained a Neutral stance, emphasizing the need for further trials for polyp patients. Lyra Therapeutics is expected to engage with the FDA later in 2025 to discuss the next steps for development, particularly for patients without nasal polyps.
These developments come after the company faced challenges with its earlier ENLIGHTEN-1 trial, which did not meet its primary endpoint, leading to workforce reductions. Despite past hurdles, the recent positive trial data and regained Nasdaq compliance have positioned Lyra Therapeutics for potential advancements in its treatment offerings.
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