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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 10)*

Lyra Therapeutics, Inc. (Name of Issuer)

Common Stock, $0.001 par value (Title of Class of Securities)

55234L204 (CUSIP Number)

Alexander Rakitin 51 Astor Place, 10th Floor, New York, NY, 10003 (646) 205-5345 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/21/2025 (Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No.

55234L204

1	Name of reporting person Perceptive Advisors LLC
2	Check the appropriate box if a member of a Group (See Instructions)   (a)   (b)
3	SEC use only
4	Source of funds (See Instructions) AF
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6	Citizenship or place of organization DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:	7 Sole Voting Power 0.00 8 Shared Voting Power 0.00 9 Sole Dispositive Power 0.00 10 Shared Dispositive Power 0.00
11	Aggregate amount beneficially owned by each reporting person 0.00
12	Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13	Percent of class represented by amount in Row (11) 0 %
14	Type of Reporting Person (See Instructions) IA

SCHEDULE 13D

CUSIP No.

55234L204

1	Name of reporting person Joseph Edelman
2	Check the appropriate box if a member of a Group (See Instructions)   (a)   (b)
3	SEC use only
4	Source of funds (See Instructions) AF
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6	Citizenship or place of organization UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:	7 Sole Voting Power 0.00 8 Shared Voting Power 0.00 9 Sole Dispositive Power 0.00 10 Shared Dispositive Power 0.00
11	Aggregate amount beneficially owned by each reporting person 0.00
12	Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13	Percent of class represented by amount in Row (11) 0 %
14	Type of Reporting Person (See Instructions) IN

SCHEDULE 13D

CUSIP No.

55234L204

1	Name of reporting person Perceptive Life Sciences Master Fund, Ltd.
2	Check the appropriate box if a member of a Group (See Instructions)   (a)   (b)
3	SEC use only
4	Source of funds (See Instructions) WC
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6	Citizenship or place of organization CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:	7 Sole Voting Power 0.00 8 Shared Voting Power 0.00 9 Sole Dispositive Power 0.00 10 Shared Dispositive Power 0.00
11	Aggregate amount beneficially owned by each reporting person 0.00
12	Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13	Percent of class represented by amount in Row (11) 0 %
14	Type of Reporting Person (See Instructions) CO

SCHEDULE 13D

CUSIP No.

55234L204

1	Name of reporting person Perceptive LS (A), LLC
2	Check the appropriate box if a member of a Group (See Instructions)   (a)   (b)
3	SEC use only
4	Source of funds (See Instructions) WC
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6	Citizenship or place of organization CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:	7 Sole Voting Power 0.00 8 Shared Voting Power 0.00 9 Sole Dispositive Power 0.00 10 Shared Dispositive Power 0.00
11	Aggregate amount beneficially owned by each reporting person 0.00
12	Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13	Percent of class represented by amount in Row (11) 0 %
14	Type of Reporting Person (See Instructions) CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value
(b)	Name of Issuer: Lyra Therapeutics, Inc.
(c)	Address of Issuer's Principal Executive Offices: 480 Arsenal Way, Watertown, MASSACHUSETTS , 02472.
Item 5.	Interest in Securities of the Issuer
(a)	Items 5(a)-(c) of the Schedule 13D are amended and supplemented as follows: The information set forth in rows 11 and 13 of the cover pages to this Schedule 13D is incorporated by reference.
(b)	The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D is incorporated by reference.
(c)	Except as set forth on Schedule A, no Reporting Person has effected any transaction in shares of Common Stock since the filing of Amendment No. 9 to the Schedule 13D, filed with the Securities and Exchange Commission on November 18, 2025.
(e)	On November 21, 2025, the Reporting Persons ceased being holders of 5% or more of the outstanding shares of the Issuer's Common Stock.

SIGNATURE
	After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Perceptive Advisors LLC

Signature: /s/ Joseph Edelman Name/Title: Joseph Edelman, Managing Member Date: 11/25/2025

Joseph Edelman

Signature: /s/ Joseph Edelman Name/Title: Joseph Edelman Date: 11/25/2025

Perceptive Life Sciences Master Fund, Ltd.

Signature: /s/ Joseph Edelman Name/Title: Joseph Edelman, Managing Member Date: 11/25/2025

Perceptive LS (A), LLC

Signature: Perceptive LS GP, LLC Name/Title: Joseph Edelman, Member Date: 11/25/2025

Signature: /s/ Joseph Edelman Name/Title: Joseph Edelman, Member Date: 11/25/2025

1 The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.52 to $3.70 inclusive. The reporting persons undertake to provide the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within such range.

2 The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.15 to $3.52 inclusive. The reporting persons undertake to provide the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within such range.

3 The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.25 to $3.27 inclusive. The reporting persons undertake to provide the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within such range.

4 The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.05 to $3.25 inclusive. The reporting persons undertake to provide the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within such range.

5 The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.85 to $3.10 inclusive. The reporting persons undertake to provide the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within such range.