2023 Q3 Form 10-Q Financial Statement

#000095017023039830 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $544.0K $458.0K $407.0K
YoY Change 51.53% 12.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.000M $4.570M $4.132M
YoY Change -2.67% 10.6% 16.07%
% of Gross Profit
Research & Development $12.37M $10.80M $10.79M
YoY Change 23.09% 0.06% 43.81%
% of Gross Profit
Depreciation & Amortization -$70.00K -$23.00K $300.0K
YoY Change -123.33% -107.67% 0.0%
% of Gross Profit
Operating Expenses $17.37M $16.96M $14.93M
YoY Change 14.4% 13.64% 34.88%
Operating Profit -$16.83M -$16.50M -$14.52M
YoY Change 13.5% 13.67% 31.21%
Interest Expense $1.190M $897.0K $34.00K
YoY Change 1883.33% 2538.24% 30.77%
% of Operating Profit
Other Income/Expense, Net $1.192M $897.0K $34.00K
YoY Change 1886.67% 2538.24% 30.77%
Pretax Income -$15.64M -$15.61M -$14.48M
YoY Change 5.89% 7.75% 31.21%
Income Tax $16.00K $12.00K
% Of Pretax Income
Net Earnings -$15.65M -$15.62M -$14.48M
YoY Change 5.99% 7.83% 31.21%
Net Earnings / Revenue -2877.02% -3410.04% -3558.72%
Basic Earnings Per Share -$0.27 -$0.36 -$0.42
Diluted Earnings Per Share -$0.27 -$0.36 -$426.7K
COMMON SHARES
Basic Shares Outstanding 49.55M 31.84M 33.95M
Diluted Shares Outstanding 56.95M 43.68M 33.95M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.6M $116.2M $120.7M
YoY Change -6.35% -3.74% 74.77%
Cash & Equivalents $24.85M $54.36M $120.7M
Short-Term Investments $77.70M $61.79M
Other Short-Term Assets $2.400M $2.103M $1.712M
YoY Change -10.18% 22.84% 66.7%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $104.9M $118.3M $122.4M
YoY Change -6.51% -3.37% 74.65%
LONG-TERM ASSETS
Property, Plant & Equipment $726.0K $560.0K $4.009M
YoY Change -80.66% -86.03% 4.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.463M $4.353M $1.696M
YoY Change 318.56% 156.66% 196.5%
Total Long-Term Assets $15.66M $7.422M $7.654M
YoY Change 116.44% -3.03% 22.29%
TOTAL ASSETS
Total Short-Term Assets $104.9M $118.3M $122.4M
Total Long-Term Assets $15.66M $7.422M $7.654M
Total Assets $120.6M $125.7M $130.0M
YoY Change 0.93% -3.35% 70.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.054M $4.188M $1.670M
YoY Change 74.28% 150.78% -12.06%
Accrued Expenses $12.50M $8.426M $6.391M
YoY Change 56.74% 31.84% 59.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.24M $14.11M $9.872M
YoY Change 41.38% 42.94% 67.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $17.10M $12.99M $9.133M
YoY Change 35.33% 42.2% -29.36%
Total Long-Term Liabilities $17.10M $12.99M $9.133M
YoY Change 35.33% 42.2% -29.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.24M $14.11M $9.872M
Total Long-Term Liabilities $17.10M $12.99M $9.133M
Total Liabilities $36.34M $27.10M $19.01M
YoY Change 38.47% 42.58% 0.91%
SHAREHOLDERS EQUITY
Retained Earnings -$296.2M -$280.5M -$214.9M
YoY Change 26.37% 30.53% 27.39%
Common Stock $380.4M $379.2M $325.9M
YoY Change 16.11% 16.33% 44.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.24M $98.58M $111.0M
YoY Change
Total Liabilities & Shareholders Equity $120.6M $125.7M $130.0M
YoY Change 0.93% -3.35% 70.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$15.65M -$15.62M -$14.48M
YoY Change 5.99% 7.83% 31.21%
Depreciation, Depletion And Amortization -$70.00K -$23.00K $300.0K
YoY Change -123.33% -107.67% 0.0%
Cash From Operating Activities -$14.12M -$14.28M -$8.470M
YoY Change 30.19% 68.62% -350.52%
INVESTING ACTIVITIES
Capital Expenditures $140.0K $71.00K -$14.00K
YoY Change -582.76% -607.14% -97.76%
Acquisitions
YoY Change
Other Investing Activities -$14.84M -$490.0K
YoY Change
Cash From Investing Activities -$14.98M -$561.0K -$14.00K
YoY Change 51555.17% 3907.14% -97.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -420.0K 47.19M 96.49M
YoY Change 77.97% -51.1% 51497.33%
NET CHANGE
Cash From Operating Activities -14.12M -14.28M -8.470M
Cash From Investing Activities -14.98M -561.0K -14.00K
Cash From Financing Activities -420.0K 47.19M 96.49M
Net Change In Cash -29.52M 32.34M 88.00M
YoY Change 165.68% -63.25% 2890.25%
FREE CASH FLOW
Cash From Operating Activities -$14.12M -$14.28M -$8.470M
Capital Expenditures $140.0K $71.00K -$14.00K
Free Cash Flow -$14.26M -$14.35M -$8.456M
YoY Change 31.83% 69.74% -311.08%

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-1639000
lyra Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
-2928000
lyra Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
1207000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-528000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-524000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-868000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4007000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-30132000
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NetCashProvidedByUsedInOperatingActivities
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PaymentsToAcquirePropertyPlantAndEquipment
116000
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PaymentsToAcquirePropertyPlantAndEquipment
107000
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29930000
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34800000
us-gaap Net Cash Provided By Used In Investing Activities
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4754000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-107000
lyra Proceeds From Sale Of Common Stock And Pre Funded Warrant Net
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50000000
lyra Proceeds From Sale Of Common Stock And Pre Funded Warrant Net
ProceedsFromSaleOfCommonStockAndPreFundedWarrantNet
100495000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2912000
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PaymentsOfStockIssuanceCosts
4010000
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101000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8000
us-gaap Net Cash Provided By Used In Financing Activities
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47189000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
96493000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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21811000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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76011000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33942000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
122087000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
54000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6000
lyra Other Assets Included In Accounts Payable And Other Current Liabilities
OtherAssetsIncludedInAccountsPayableAndOtherCurrentLiabilities
505000
lyra Deferred Offering Costs Incurred But Not Yet Paid
DeferredOfferingCostsIncurredButNotYetPaid
420000
lyra Deferred Offering Costs Incurred But Not Yet Paid
DeferredOfferingCostsIncurredButNotYetPaid
236000
lyra Cash Provided By Financing Activities
CashProvidedByFinancingActivities
397000000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-280500000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54400000
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
61800000
lyra Warrants Exercised
WarrantsExercised
0
lyra Warrants Expired
WarrantsExpired
0
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
1400000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
1400000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54361000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32550000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
1392000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
1392000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55753000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33942000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16146091
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4060079
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
61789000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
65344000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2022Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2023Q2 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
17438763
CY2023Q2 lyra Class Of Warrant Or Right Outstanding Exercisable
ClassOfWarrantOrRightOutstandingExercisable
7408188
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
28212
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
270716
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
7041
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
4.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
48184
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
2.93
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
243703
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4311333
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.07
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
378000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1976180
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.85
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
57377
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
358323
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
8.13
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5871813
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.63
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3090000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.032
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.037
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.025
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y3M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.82
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.806
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.829
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.807
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.24
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.07
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.24
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1354000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1107000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2964000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1951000
us-gaap Deferred Revenue Description
DeferredRevenueDescription
Under the LianBio License Agreement, in order to evaluate the transaction price for purposes of ASC 606, the Company determined that the upfront payment of $12.0 million and the reimbursable cost of the clinical supply of LYR-210 constitute the entirety of the consideration to be included in the transaction price as of the outset of the arrangement, which was allocated to the two performance obligations as follows: $8.4 million to the Combined Performance Obligation and $3.6 million to the Development Activities Performance Obligation. In February 2022, the Company received $5.0 million upon achievement of the first of the development milestones related to dosing its first patient and the transaction price was adjusted by $5.0 million which was allocated to the two performance obligations as follows: $3.5 million to the Combined Performance Obligation and $1.5 million to the Development Activities Performance Obligation. The remaining potential milestone payments that the Company is eligible to receive were excluded from the transaction price as of June 30, 2023, as all milestone amounts were fully constrained based on the probability of achievement.
CY2023Q2 lyra Combined Performance Obligation
CombinedPerformanceObligation
8400000
CY2023Q2 lyra Development Activities Performance Obligation
DevelopmentActivitiesPerformanceObligation
3600000
lyra Change In Performance Obligation Transaction Price
ChangeInPerformanceObligationTransactionPrice
0
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
15352000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
868000
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
14484000
CY2023Q2 lyra Deferred Tax Assets Valuation Allowance Income Tax Expense Benefit
DeferredTaxAssetsValuationAllowanceIncomeTaxExpenseBenefit
12000
lyra Deferred Tax Assets Valuation Allowance Income Tax Expense Benefit
DeferredTaxAssetsValuationAllowanceIncomeTaxExpenseBenefit
26000
lyra Deferred Tax Assets Valuation Allowance Income Tax Expense Benefit
DeferredTaxAssetsValuationAllowanceIncomeTaxExpenseBenefit
0
CY2022Q2 lyra Deferred Tax Assets Valuation Allowance Income Tax Expense Benefit
DeferredTaxAssetsValuationAllowanceIncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
one additional 5-year term
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
444000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
264000
us-gaap Operating Lease Cost
OperatingLeaseCost
888000
us-gaap Operating Lease Cost
OperatingLeaseCost
528000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
248000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1996000
us-gaap Variable Lease Cost
VariableLeaseCost
494000
us-gaap Variable Lease Cost
VariableLeaseCost
2874000
CY2023Q2 us-gaap Lease Cost
LeaseCost
692000
CY2022Q2 us-gaap Lease Cost
LeaseCost
2260000
us-gaap Lease Cost
LeaseCost
1382000
us-gaap Lease Cost
LeaseCost
3402000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2023Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
7000000

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