Lyra Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

WATERTOWN, Mass., March 01, 2024 (GLOBE NEWSWIRE) -- Lyra Therapeutics, Inc. (Nasdaq: LYRA) (“Lyra” or the “Company”), a clinical-stage biotechnology company developing long-acting, anti-inflammatory nasal inserts for the treatment of chronic rhinosinusitis (CRS), today announced that it has granted non-qualified stock options to purchase a total of 119,200 shares of Lyra common stock to 18 new non-executive employees as an inducement material to their acceptance of employment with Lyra. The employment inducement awards were approved by Lyra’s independent directors serving on its Compensation Committee and granted under the Company’s 2022 Inducement Award Plan, as amended, and related form of stock option agreement in accordance with Nasdaq Listing Rule 5635(c)(4).