Published on 14 Sep 2023 on Zacks via Yahoo Finance

Lyra (LYRA) Posts Upbeat Data on Rhinosinusitis Study, Stock Up

Lyra Therapeutics LYRA reported positive data from the ongoing phase II BEACON study, evaluating LYR-220 for treating patients with chronic rhinosinusitis (CRS) who have undergone ethmoid sinus surgery. Following this announcement, shares of the company were up 7.5% on Sep 12.

Data from the BEACON study demonstrated that treatment with LYR-220 led to a statistically significant and clinically meaningful improvement in efficacy as early as two weeks. This improvement was observed in both the cardinal symptoms of CRS (nasal obstruction, nasal discharge, facial pain/pressure) and the Sino-Nasal Outcome Test (SNOT-22) score.

The study met its primary safety endpoint, indicating that LYR-220 demonstrated a favorable safety profile with no serious adverse events compared to a sham control. The most commonly reported adverse events included sinusitis, nasopharyngitis, bronchitis and COVID-19.