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Lyra Therapeutics, Inc. (NASDAQ:LYRA) announced it received a notice from The Nasdaq Stock Market LLC on Wednesday stating that the company’s stockholders’ equity as of June 30, 2025, was approximately $1.6 million, below the $2.5 million minimum required under Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market.
According to a press release statement, the notification does not immediately affect the listing or trading of the company’s common stock, which will continue to trade under the symbol LYRA.
Nasdaq has provided Lyra Therapeutics with an initial period of 45 calendar days, until October 4, 2025, to submit a plan to regain compliance. If the submitted plan is accepted, Nasdaq may grant the company an extension of up to 180 calendar days from the date of the notice to meet the required equity standard.
Lyra Therapeutics stated it is currently evaluating possible actions to regain compliance and plans to submit a plan within the specified timeframe. There is no assurance that the plan will be accepted or that the company will be able to regain compliance. If the plan is not accepted, or if the company fails to regain compliance within the allowed period, the company’s common stock could become subject to delisting. In such an event, Nasdaq rules permit the company to appeal any delisting determination to a Nasdaq Hearings Panel, which would temporarily stay any suspension or delisting action pending the outcome of the appeal process.
This information is based on a press release statement and the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Lyra Therapeutics has successfully raised approximately $5 million through a registered direct offering, involving the sale of common stock and warrants. The biotechnology company also regained compliance with Nasdaq’s minimum bid price requirement, maintaining a bid price of at least $1 for 12 consecutive business days. Additionally, H.C. Wainwright has increased its price target for Lyra Therapeutics to $16, following positive results from the company’s Phase 3 ENLIGHTEN-2 trial for its LYR-210 treatment. The trial met its primary and key secondary endpoints, which has led to a reassessment of the stock’s potential value. Despite the positive trial data, BTIG analysts have maintained a Neutral rating on the stock, noting that a separate Phase 3 trial will be needed for polyp patients. The ENLIGHTEN-2 trial demonstrated LYR-210’s effectiveness in reducing symptoms of chronic rhinosinusitis, achieving significant improvements in nasal obstruction, nasal discharge, and facial pain/pressure. These developments have been pivotal for Lyra Therapeutics, as the company navigates its clinical and financial strategies.
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