Home / Going-concern warnings / Lyra Therapeutics, Inc.
Filed 2025-11-12 路 Form 10-Q 路 Accession 0001193125-25-277564 nano
Price before filing: $4.24 (2025-11-11 close, split/dividend-adjusted)
Market cap at flag: $5.2M (2025-11-12) 路 Latest: $3.0M (2026-10-13)
| Window | LYRA | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -14.2% | -0.2% | -14.0% | 2025-12-12 |
| 90 days | -65.3% | +1.6% | -67.0% | 2026-02-10 |
| 180 days | -82.6% | +8.9% | -91.4% | 2026-05-11 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $367K (8 sales)
30 days after: 1 insider sold $160K (4 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-11-06 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 28,902 | $5.18 | $150K | no | Form 4 |
| 2025-11-06 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 3,247 | $5.18 | $17K | no | Form 4 |
| 2025-11-07 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 17,746 | $4.75 | $84K | no | Form 4 |
| 2025-11-07 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 1,993 | $4.75 | $9K | no | Form 4 |
| 2025-11-10 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 16,633 | $4.54 | $76K | no | Form 4 |
| 2025-11-10 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 1,869 | $4.54 | $8K | no | Form 4 |
| 2025-11-11 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 4,783 | $4.31 | $21K | no | Form 4 |
| 2025-11-11 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 537 | $4.31 | $2K | no | Form 4 |
| 2025-11-12: red flag filed | |||||||
| 2025-11-12 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 7,862 | $4.06 | $32K | no | Form 4 |
| 2025-11-12 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 883 | $4.06 | $4K | no | Form 4 |
| 2025-11-13 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 28,597 | $3.90 | $112K | no | Form 4 |
| 2025-11-13 | PERCEPTIVE ADVISORS LLC (+3 joint filers) 10% owner | Sale | 3,213 | $3.90 | $13K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-14 to 2025-12-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern for one year from the date these condensed consolidated financial statements are issued."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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