$LYRA
Lyra Therapeutics, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021055778 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q3
Revenue $14.00K $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.018M $3.310M $2.650M
YoY Change 51.62% 139.86% 90.65%
% of Gross Profit
Research & Development $7.077M $3.740M $3.712M
YoY Change 90.65% 24.25% 30.66%
% of Gross Profit
Depreciation & Amortization $400.0K $50.00K $33.00K
YoY Change 1112.12% 450.0%
% of Gross Profit
Operating Expenses $11.10M $7.050M $6.363M
YoY Change 74.37% 60.59% 50.57%
Operating Profit -$11.08M -$6.363M
YoY Change 74.15% 50.57%
Interest Expense $26.00K $30.00K $30.00K
YoY Change -13.33% -25.0% -50.0%
% of Operating Profit
Other Income/Expense, Net $26.00K $29.00K
YoY Change -10.34% -53.97%
Pretax Income -$11.06M -$7.020M -$6.330M
YoY Change 74.64% 61.38% 52.16%
Income Tax
% Of Pretax Income
Net Earnings -$11.06M -$7.020M -$6.334M
YoY Change 74.53% 61.38% 52.15%
Net Earnings / Revenue -78964.29%
Basic Earnings Per Share -$0.85
Diluted Earnings Per Share -$850.3K -$541.7K -$489.9K
COMMON SHARES
Basic Shares Outstanding 13.00M
Diluted Shares Outstanding 13.00M

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.13M $74.59M $81.56M
YoY Change -28.73%
Cash & Equivalents $58.10M $74.59M $81.88M
Short-Term Investments
Other Short-Term Assets $2.755M $1.320M $2.000M
YoY Change 37.75%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $60.89M $75.92M $83.56M
YoY Change -27.13% 650.24%
LONG-TERM ASSETS
Property, Plant & Equipment $4.706M $2.165M $917.0K
YoY Change 413.2% 813.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $574.0K $118.0K $330.0K
YoY Change 73.94% -89.23%
Total Long-Term Assets $6.876M $4.913M $3.775M
YoY Change 82.15% 1.42%
TOTAL ASSETS
Total Short-Term Assets $60.89M $75.92M $83.56M
Total Long-Term Assets $6.876M $4.913M $3.775M
Total Assets $67.76M $80.83M $87.33M
YoY Change -22.41% 440.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.912M $922.0K $530.0K
YoY Change 449.43% -13.75%
Accrued Expenses $5.020M $3.960M $4.180M
YoY Change 20.1%
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 $17.77M $4.884M $4.708M
YoY Change 277.51% -6.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.801M $1.450M $1.710M
YoY Change 63.8%
Total Long-Term Liabilities $2.801M $1.450M $1.710M
YoY Change 63.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.77M $4.884M $4.708M
Total Long-Term Liabilities $2.801M $1.450M $1.710M
Total Liabilities $20.57M $6.338M $6.416M
YoY Change 220.67% -16.99%
SHAREHOLDERS EQUITY
Retained Earnings -$179.8M -$149.9M -$142.9M
YoY Change 25.85% 17.32%
Common Stock $224.4M $223.8M
YoY Change 4977.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.19M $74.49M $80.91M
YoY Change
Total Liabilities & Shareholders Equity $67.76M $80.83M $87.33M
YoY Change -22.41% 440.2%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income -$11.06M -$7.020M -$6.334M
YoY Change 74.53% 61.38% 52.15%
Depreciation, Depletion And Amortization $400.0K $50.00K $33.00K
YoY Change 1112.12% 450.0%
Cash From Operating Activities -$10.31M -$5.860M -$3.780M
YoY Change 172.86% -1.31%
INVESTING ACTIVITIES
Capital Expenditures -$517.0K -$1.110M -$580.0K
YoY Change -10.86% 5700.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$517.0K -$1.110M -$580.0K
YoY Change -10.86% 5700.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -84.00K 0.000 -670.0K
YoY Change -87.46% 6600.0%
NET CHANGE
Cash From Operating Activities -10.31M -5.860M -3.780M
Cash From Investing Activities -517.0K -1.110M -580.0K
Cash From Financing Activities -84.00K 0.000 -670.0K
Net Change In Cash -10.92M -6.970M -5.030M
YoY Change 117.0% 30.65%
FREE CASH FLOW
Cash From Operating Activities -$10.31M -$5.860M -$3.780M
Capital Expenditures -$517.0K -$1.110M -$580.0K
Free Cash Flow -$9.797M -$4.750M -$3.200M
YoY Change 206.16% -16.23%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
9841000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4884000
CY2021Q3 us-gaap Alternative Investment Change In Valuation Technique
AlternativeInvestmentChangeInValuationTechnique
false
CY2020Q3 us-gaap Alternative Investment Change In Valuation Technique
AlternativeInvestmentChangeInValuationTechnique
false
CY2021Q3 us-gaap Alternative Investment Change In Valuation Technique
AlternativeInvestmentChangeInValuationTechnique
false
CY2020Q3 us-gaap Alternative Investment Change In Valuation Technique
AlternativeInvestmentChangeInValuationTechnique
false
CY2021Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2020Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2021Q3 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
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
P6Y
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1454000
CY2021Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
2145000
CY2020Q4 us-gaap Liabilities
Liabilities
6338000
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12932377
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12932377
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
13000
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
224363000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-149884000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
74492000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
80830000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14000
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3712000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10639000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6377000
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
6363000
us-gaap Operating Expenses
OperatingExpenses
29991000
us-gaap Operating Income Loss
OperatingIncomeLoss
-15156000
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
29000
us-gaap Investment Income Interest
InvestmentIncomeInterest
81000
us-gaap Investment Income Interest
InvestmentIncomeInterest
50000
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
29000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
81000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
50000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-6334000
us-gaap Net Income Loss
NetIncomeLoss
-29896000
us-gaap Net Income Loss
NetIncomeLoss
-15106000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6334000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-29896000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15106000
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.30
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.13
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12924682
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12979837
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7133967
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
86823000
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-44000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
468000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-6334000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
80914000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
57499000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
11000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
733000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
47188000
us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
-115000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
740000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
160227000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
57284000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1221000
us-gaap Net Income Loss
NetIncomeLoss
-15106000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
80914000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
74492000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
604000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1988000
us-gaap Net Income Loss
NetIncomeLoss
-29896000
us-gaap Profit Loss
ProfitLoss
-29896000
us-gaap Profit Loss
ProfitLoss
-15106000
us-gaap Share Based Compensation
ShareBasedCompensation
1988000
us-gaap Share Based Compensation
ShareBasedCompensation
1221000
us-gaap Depreciation
Depreciation
723000
us-gaap Depreciation
Depreciation
54000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
45000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1431000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1689000
lyra Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-705000
lyra Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-666000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1167000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
141000
lyra Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
966000
lyra Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
150000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-731000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-667000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
11986000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14523000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15275000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2302000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
674000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2302000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-674000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
59892000
us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
2383000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
241000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
604000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
363000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
87696000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16462000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
71747000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
74922000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10137000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
58460000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
81884000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1049000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
17000
us-gaap Stock Issued1
StockIssued1
160227000
lyra Accretion Of Redeemable Convertible Preferred Stock To Redemption Value
AccretionOfRedeemableConvertiblePreferredStockToRedemptionValue
115000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13000
lyra Deferred Offering Costs Incurred But Not Yet Paid
DeferredOfferingCostsIncurredButNotYetPaid
4000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2005-11-21
us-gaap Net Income Loss
NetIncomeLoss
-29900000
us-gaap Net Income Loss
NetIncomeLoss
-15100000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-179800000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
58100000
CY2020Q1 lyra Number Of Patients
NumberOfPatients
67
CY2021Q4 lyra Employer Side Social Security Payments Due Percentage
EmployerSideSocialSecurityPaymentsDuePercentage
0.50
CY2022Q4 lyra Employer Side Social Security Payments Due Percentage
EmployerSideSocialSecurityPaymentsDuePercentage
0.50
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:9.06%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of expenses during the reporting period. On an ongoing basis, the Company’s management evaluates its estimates, which include but are not limited to management’s judgments of revenue recognition, operating lease right-of-use assets, operating lease liabilities, accrued expenses, fair value of common stock, valuation of share-based awards, warrants to purchase common stock and deferred income taxes. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:9.06%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company utilizes significant estimates and assumptions in determining the fair value of its common stock. The Company has utilized various valuation methodologies to estimate the fair value of its common stock. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company’s common stock at the time of, and the likelihood of, achieving a liquidity event, such as an initial public offering or sale. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date. </p>
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
149000
CY2021Q3 lyra Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
3968000
CY2020Q4 lyra Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
2977000
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
300000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
300000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-11055000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-6334000
us-gaap Net Income Loss
NetIncomeLoss
-29896000
us-gaap Net Income Loss
NetIncomeLoss
-15106000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
115000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11055000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6334000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29896000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15221000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13001514
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12924682
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12979837
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7133967
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.85
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.30
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.13
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1850313
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1375307
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.75
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2577000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1850313
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.24
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of common stock are entitled to one vote for each share held.
lyra Common Stock Voting Rights Number Of Votes
CommonStockVotingRightsNumberOfVotes
1
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8307000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5043000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3601000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2878000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4706000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2165000
CY2021Q3 us-gaap Depreciation
Depreciation
400000
CY2020Q3 us-gaap Depreciation
Depreciation
33000
us-gaap Depreciation
Depreciation
700000
us-gaap Depreciation
Depreciation
54000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2244000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1892000
CY2021Q3 lyra Third Party Research And Development Expenses Current
ThirdPartyResearchAndDevelopmentExpensesCurrent
763000
CY2020Q4 lyra Third Party Research And Development Expenses Current
ThirdPartyResearchAndDevelopmentExpensesCurrent
381000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
831000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
555000
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
130000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-34.483
CY2021Q2 lyra Stock And Wrrants To Be Issued During Period Value Preferred Stock And Warrants
StockAndWrrantsToBeIssuedDuringPeriodValuePreferredStockAndWarrants
250000000.0
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3742000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.33
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1850313
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.24
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
810221
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
733000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
468000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1988000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1221000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.009
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.003
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.006
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.842
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.828
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.850
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.804
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1428886
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.41
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5165000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
602600
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.65
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
72201
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
108972
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
3742000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.66
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.84
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.81
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
21000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
7500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2017Q4 lyra Lessee Operating Lease Extended Lease Term
LesseeOperatingLeaseExtendedLeaseTerm
2023-04
CY2017Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000.0
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
264000
us-gaap Operating Lease Cost
OperatingLeaseCost
791000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
178000
us-gaap Variable Lease Cost
VariableLeaseCost
2219000
us-gaap Variable Lease Cost
VariableLeaseCost
548000
CY2021Q3 us-gaap Lease Cost
LeaseCost
1121000
CY2020Q3 us-gaap Lease Cost
LeaseCost
442000
us-gaap Lease Cost
LeaseCost
3011000
us-gaap Lease Cost
LeaseCost
1339000
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
277000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1127000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
382000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1788000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
80000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1708000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1052000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
656000
CY2021Q2 lyra Future Milestone Payments Receivable Upon Achievement Of Specified Development Regulatory And Commercialization
FutureMilestonePaymentsReceivableUponAchievementOfSpecifiedDevelopmentRegulatoryAndCommercialization
135000000.0
CY2021Q3 us-gaap Deferred Revenue
DeferredRevenue
8300000
CY2021Q3 lyra Deferred Revenue Related To Development Activites
DeferredRevenueRelatedToDevelopmentActivites
3700000

Files In Submission

Name View Source Status
0001564590-21-055778-index-headers.html Edgar Link pending
0001564590-21-055778-index.html Edgar Link pending
0001564590-21-055778.txt Edgar Link pending
0001564590-21-055778-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lyra-10q_20210930.htm Edgar Link pending
lyra-10q_20210930_htm.xml Edgar Link completed
lyra-20210930.xsd Edgar Link pending
lyra-20210930_cal.xml Edgar Link unprocessable
lyra-20210930_def.xml Edgar Link unprocessable
lyra-20210930_lab.xml Edgar Link unprocessable
lyra-20210930_pre.xml Edgar Link unprocessable
lyra-ex101_82.htm Edgar Link pending
lyra-ex102_83.htm Edgar Link pending
lyra-ex311_6.htm Edgar Link pending
lyra-ex312_10.htm Edgar Link pending
lyra-ex321_8.htm Edgar Link pending
lyra-ex322_9.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending