Lyra Therapeutics (NASDAQ:LYRA) advanced into its Part 2 of the Phase 2 BEACON clinical trial of LYR-220 in adults with chronic rhinosinusitis (CRS) who have had a prior sinus surgery.

The Phase 2 BEACON trial is a parallel-group study to evaluate safety, tolerability, and pharmacokinetics of LYR-220, over a 24-week period, in symptomatic adult CRS patients who have had a prior bilateral sinus surgery.

The Part 1 of the BEACON trial was uncontrolled and designed primarily to assess the feasibility and tolerability of two matrix designs. In the Part 2 stage, one design of LYR-220 will be compared to control in approximately 40 patients.

The first patient was dosed in Part 2, a controlled portion of the BEACON trial, evaluating the safety and efficacy of LYR-220. Lyra expects completing enrollment for the full Phase 2 BEACON trial around year-end.

LYR-220 has been specifically designed to deliver six months of continuous anti-inflammatory medication in a controlled and consistent fashion to the sinonasal passages for the millions of CRS patients that continue to require treatment despite prior surgical treatment.

Chronic Rhinosinusitis (CRS) is a highly prevalent inflammatory disease of the paranasal sinuses which leads to debilitating symptoms and significant morbidities and is the fifth most common condition in people under 65.

Price Action : Lyra shares trading around 5 percent down at $5.85 on Tuesday at the time of publication.