Soleus Capital Master Fund, L.p.

LYRA

10% OWNER · LYRA THERAPEUTICS, INC. · CIK 0001812275

FILING MIX · LIFETIME50%/50%

BUYS

SELLS

TOTAL VALUE

$3.02M

COMPANIES

ACTIVE SINCE

May 2020

HOLDINGS NOW

338,330

AVG SELL PX

$16.00

Trades · vs SPY

Loading price series…

Performance · forward returns vs SPY

2 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Soleus Capital Master Fund, L.p., measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+50.00%	-2.40%	+0.16%	-2.56%	-2.56%	—
14d	2	+50.00%	-13.27%	+2.02%	-15.29%	-15.29%	—
30d	2	+50.00%	-3.90%	+8.79%	-12.70%	-12.70%	—
60d	2	+50.00%	-33.27%	+9.58%	-42.85%	-42.85%	—
90d	2	+50.00%	-17.84%	+15.39%	-33.23%	-33.23%	—
180d	2	+50.00%	-34.23%	+16.35%	-50.59%	-50.59%	—
1y	2	+50.00%	-49.31%	+47.60%	-96.91%	-96.91%	—
2y	2	+50.00%	-63.48%	+48.85%	-112.34%	-112.34%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

LYRA · 338,330 shares · as of May 5, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 4 buys / 4 sellsCOVERAGE · 1 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
LYRA LYRA THERAPEUTICS, INC.	PURCHASE	104,608	—	—	442,948	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	SALE	16,909	$16.00	$270.5K	457,421	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	SALE	31,382	—	—	0	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	PURCHASE	155,000	$16.00	$2.48M	155,000	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	SALE	3,607,224	—	—	0	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	PURCHASE	31,382	$8.63	$270.8K	474,330	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	SALE	11,666,666	—	—	0	May 5, 2020	May 15, 2020 ↗
LYRA LYRA THERAPEUTICS, INC.	PURCHASE	338,330	—	—	338,330	May 5, 2020	May 15, 2020 ↗

Other insiders · LYRA

Loading peer insiders…

About this filer

CIK 0001812275

ROLE

10% Owner

PRIMARY

LYRA

COMPANIES

ACTIVE SINCE

May 2020

MARKETPEEL · /INSIDER/0001812275DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Soleus Capital Master Fund, L.p.

The morning brief, before the bell.