XVARY Composite Score
27
/ 100
Weak
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
Lyra is trying to treat chronic sinus inflammation with a nasal implant that releases steroid medicine for 6 months.
How it gets paid
Last year Lyra Therapeutics made $2M in revenue. license and collaboration revenue was the main engine at $1.1M, or 55% of sales.
What just happened
Latest quarterly revenue was just $391K, while EPS came in at -$14.85.
At a Glance
C balance sheet — red flag territory — real financial stress
45/100 earnings predictability — expect surprises
-$71.50 fy2024 eps est
$2M fy2024 rev est
N/a operating margin
XVARY composite: 27/100 — weak
What They Do
Lyra is trying to treat chronic sinus inflammation with a nasal implant that releases steroid medicine for 6 months.
The pitch is brutally simple: one in-office implant delivers 6 months of anti-inflammatory treatment with a single administration. If it works, you skip repeat treatments and target an estimated 4 million U.S. patients who fail standard medical management each year. The problem is this moat is still mostly a promise, and promises do not pay $27 million of debt.
How They Make Money
$2M
annual revenue
license and collaboration revenue
$1.1M
flat
research and development services
$0.4M
+1464%
grant and other revenue
$0.3M
flat
product-related reimbursements
$0.2M
flat
The Products That Matter
Suspended lead sinus implant
LYR-210
lead program suspended in 2026
This had been the equity story. After the 2026 suspension, you are asking a company worth roughly $2M to rebuild the narrative without its lead asset.
story risk
Remaining operating revenue
Product/Service Revenue
$1.53M · 34% of revenue
Only $1.53M came from product or service activity, and that line fell -59.2%. If this is the operating base, it is a very small one.
shrinking base
Cash earns the revenue
Interest Income
$2.95M · 66% of revenue
This $2.95M line is now the bigger revenue contributor. Helpful for runway, yes. Evidence of commercial traction, no.
runway support
Key Numbers
$27M
long-term debt
That debt sits against a roughly $2 million market cap. Plain English: creditors have a much bigger claim on this business than shareholders do.
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. Operating margin → profit after core costs → so what: Lyra is not just unprofitable, it is burning cash at a scale that dwarfs revenue.
$2M
2024 revenue est.
The whole company is expected to produce about $2 million of revenue in 2024, which is tiny for a public biotech carrying $27 million of debt.
30
employees
This is a 30-person company trying to push a Phase 3 program across the line. Small teams can move fast, but they do not get many mistakes.
Financial Health
C
Strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $27M (92% of capital)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
missed estimates
Latest quarterly revenue was just $391K, while EPS came in at -$14.85.
Revenue jumped 1464% vs. prior year off a tiny base, but the bigger story is that losses still overwhelm the income statement. Quarterly EPS history also stayed deeply negative through 2024, ending with full-year EPS of -$71.50.
$391K
revenue
$14.85
eps
+1464%
vs. last year revenue growth
the number that mattered
$391K matters because it shows how tiny the current business is relative to the balance-sheet burden and ongoing trial costs.
source: EDGAR SEC filings
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What Could Go Wrong
The #1 risk is LYR-210 staying suspended without a credible replacement asset.
Med
The lead asset stays off the table
LYR-210 had been the main reason to follow the story. If it remains suspended and nothing else takes its place, the company is left trying to justify a public listing on very little operating evidence.
Impact: the clinical optionality fades, and the stock is left with a $2M market cap attached to a much weaker narrative.
Med
Financing risk moves to the center
Long-term debt is $27M, or 92% of capital. That matters more when your market value is only about $2M and your operating revenue base is $1.53M.
Impact: any need for additional capital can dominate the upside case before science gets a chance to repair it.
Med
Revenue quality stays weak
Interest income is $2.95M, which is 66% of total revenue. Product/service revenue is only $1.53M and fell -59.2%, so the reported top line says more about idle cash than market demand.
Impact: if rates fall or cash balances shrink, even the current revenue base gets harder to defend.
With a ~$2M market cap, $27M of long-term debt, and 66% of revenue coming from interest income, LYRA does not have much room for a clinical setback, a funding need, and weaker cash yields at the same time.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Calendar
The next corporate update
You need the next update to answer a simple question: is management replacing the suspended lead story, or just extending the waiting period.
Risk
Any change in LYR-210 status
The fastest way this page changes is if LYR-210 returns to active development or is effectively written off for good. Right now, the stock is stuck in between.
Metric
Product/service revenue vs. interest income
Track whether $1.53M of operating revenue starts catching up with the current $2.95M of interest income. If not, the business remains a cash-yield story.
Trend
Balance sheet pressure
Watch whether debt stays the headline at $27M and 92% of capital. If that ratio improves, the stock gets breathing room. If not, capital structure keeps running the show.
Analyst Rankings
short-term outlook
mixed
analyst target data is thin here. in human-speak, there is no clean crowd view to lean on.
risk profile
volatile
price stability is 5 / 100. Translation: this can trade like a headline, not like a business.
chart momentum
catalyst-driven
the $1–$38 range tells you trend lines are secondary. Program news and financing questions matter more.
earnings predictability
45/100
the business is still changing shape. That makes the reported numbers less useful than they look at first glance.
Source: institutional data
Institutional Activity
institutional ownership data for LYRA is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$1
Current price
Target midpoint · from current
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