TL;DR
CEO Maria Palasis and CFO Jason Cavalier execute routine sales totaling $20,038 following RSU vesting.
July 14, 2025
Routine Tax Withholding Drives Executive Sales
Lyra Therapeutics Inc. (NASDAQ: LYRA) executives conducted modest stock sales on July 10, 2025, with CEO Maria Palasis disposing of $13,944 in shares and CFO Jason Cavalier selling $6,094 in stock.
Palasis sold 1,565 shares at $8.91 per share to cover tax obligations upon restricted stock unit vesting, executed under a Rule 10b5-1 trading plan adopted January 1, 2025. Following the transaction, she directly owns 1.1 million shares.
CFO Cavalier sold 684 shares at the same price for identical tax withholding purposes, retaining direct ownership of 519,316 shares.
Stock Reflects Mixed Biotech Performance
The transactions occurred as Lyra’s stock trades near $8.71, down approximately 43% over the past year and significantly below its 52-week high of $37.50.
The biotech company faces challenges including weak gross profit margins and rapid cash burn, though it maintains a healthy current ratio of 2.96.
Recent Clinical Success Provides Optimism
Despite stock weakness, Lyra recently reported positive Phase 3 ENLIGHTEN-2 trial results for LYR-210, a chronic rhinosinusitis treatment that met primary and key secondary endpoints.
This success followed the earlier ENLIGHTEN-1 trial failure and prompted H.C. Wainwright to raise its price target to $16 while maintaining a Neutral rating.
The company secured approximately $5 million through a registered direct offering and regained Nasdaq compliance with minimum bid price requirements.
Lyra plans FDA engagement later in 2025 to discuss New Drug Application pathways for patients without nasal polyps.
The insider sales represent routine tax obligations rather than strategic portfolio decisions, with both executives maintaining substantial equity positions as the company advances its lead therapeutic candidate.