Lyra to lay off 75% of its workers; Dupixent nears COPD decision

Plus, news about BioN­Tech, Medi­gene, YGION Bio­med­ical, Eli Lil­ly and Al­loy Ther­a­peu­tics:

Lyra lays off 87 em­ploy­ees: The Wa­ter­town, MA-based biotech will let go of 75% of its work­force, stop man­u­fac­tur­ing and com­mer­cial­iza­tion ac­tiv­i­ties and seek to sub­lease its fa­cil­i­ties. It will al­so eval­u­ate po­ten­tial strate­gic op­tions, the com­pa­ny said, fol­low­ing a Phase 3 fail in chron­ic rhi­nos­i­nusi­tis ear­li­er this month. The com­pa­ny had $87 mil­lion in cash, equiv­a­lents and short-term in­vest­ments at the end of March. It ex­pects to have run­way in­to 2026. — Kyle LaHu­cik

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