Lyra Therapeutics, Inc.

Lyra Therapeutics, Inc. (LYRA) priced its initial public offering on May 1, 2020 at $16.00 per share, within its $14.00–$16.00 range, raising $56M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $198.4M. BofA Securities was lead-left underwriter, joined by Jefferies, William Blair and BTIG. Latham & Watkins advised the company and A&O Shearman advised the underwriters.

Lyra Therapeutics, Inc. is a clinical-stage company developing drug and delivery products for localized treatment of ear, nose and throat diseases using its XTreo platform. Its candidates LYR-210 and LYR-220 are bioresorbable matrices that deliver mometasone furoate to the sinonasal passages for up to six months for chronic rhinosinusitis.

Status

IPO

Ticker

LYRA

Exchange

Nasdaq Global Market

Priced

May 1, 2020

IPO price

$16.00

Price range

$14.00–$16.00

Raised

$56M

Market cap at IPO price

$198.4M

First filed

Mar 6, 2020

Underwriters

BofA Securities, Jefferies, William Blair and BTIG

Company counsel

Latham & Watkins

Underwriters' counsel

A&O Shearman

Sector

Healthcare

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.