Lyra Therapeutics Reshuffles Board with Two Resignations and a Director Re-Election

On December 12, 2024, Lyra Therapeutics, Inc. (NASDAQ: LYRA) announced in an 8-K filing with the Securities and Exchange Commission that Michael Altman and Konstantin Poukalov have resigned from the company’s Board of Directors, effective immediately. Additionally, to ensure a balanced membership among the various classes of directors, the Board decided to transfer Maria Palasis, Ph.D. from Class III with a term expiring at the 2026 Annual Meeting of Stockholders to Class I with a term ending at the 2027 Annual Meeting of Stockholders. Dr. Palasis, upon resigning as a Class III Director, was promptly re-elected as a Class I Director on the same day.

These changes have been made solely to maintain an equal distribution among the director classes. For all other intents and purposes, Dr. Palasis’s service on the Board remains uninterrupted as the re-election was primarily for class rebalancing purposes. With these adjustments, Lyra Therapeutics’ Board now comprises two Class I Directors, two Class II Directors, and two Class III Directors.

Lyra Therapeutics, a Delaware-based company listed on The Nasdaq Global Market under the symbol LYRA, reaffirmed its commitment to ensuring a resilient and diverse leadership structure with these recent board modifications.

According to the SEC filing, Jason Cavalier, the Chief Financial Officer of Lyra Therapeutics, signed off on the report on behalf of the company on December 13, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lyra Therapeutics’s 8K filing here.

About Lyra Therapeutics

Lyra Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat diseases. It's XTreo technology platform is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration.