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Lyra Therapeutics, Inc. (NASDAQ:LYRA) has regained compliance with Nasdaq's minimum bid price requirement, according to an SEC filing released Monday. The stock currently trades at $10.45, showing strong momentum with positive returns over both one and three months, according to InvestingPro data.
The company received written notice from Nasdaq on June 13, 2025, confirming that its common stock maintained a minimum bid price of $1.00 or more for 12 consecutive business days, from May 28 to June 12, 2025.
As a result, Lyra has successfully addressed its previous non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. Nasdaq has officially closed the matter.
Lyra Therapeutics is a clinical-stage biopharmaceutical company based in Watertown, Massachusetts. The company is registered as an emerging growth company under SEC regulations.
The information was disclosed in an 8-K filing submitted to the Securities and Exchange Commission.
In other recent news, Lyra Therapeutics announced successful results from its Phase 3 ENLIGHTEN-2 trial for LYR-210, aimed at treating chronic rhinosinusitis (CRS). The trial met its primary endpoint, demonstrating statistically significant improvements in CRS symptoms over a 24-week period. The positive results were observed as early as four weeks into the trial and were maintained throughout, with a safety profile comparable to the sham control. The ENLIGHTEN-2 trial's success contrasts with the earlier ENLIGHTEN-1 trial, which did not meet its primary endpoint. Analysts from H.C. Wainwright responded by raising their price target for Lyra Therapeutics to $16, maintaining a Neutral rating. Similarly, BTIG analysts also kept a Neutral rating, citing uncertainty regarding the approval pathway and the need for additional trials. Lyra Therapeutics plans to discuss a New Drug Application (NDA) submission with the FDA for patients without nasal polyps. The company is also considering a development plan for those with nasal polyps, with further regulatory feedback expected in the second half of 2025.
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