SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

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)

11/06/2025

(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. Checkbox not checked

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

Name of reporting person

Perceptive Advisors LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

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 184,760.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 184,760.00

Aggregate amount beneficially owned by each reporting person

184,760.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

11.2 %

Type of Reporting Person (See Instructions)

SCHEDULE 13D

CUSIP No.

55234L204

Name of reporting person

Joseph Edelman

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

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 184,760.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 184,760.00

Aggregate amount beneficially owned by each reporting person

184,760.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

11.2 %

Type of Reporting Person (See Instructions)

SCHEDULE 13D

CUSIP No.

55234L204

Name of reporting person

Perceptive Life Sciences Master Fund, Ltd.

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

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 166,101.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 166,101.00

Aggregate amount beneficially owned by each reporting person

166,101.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

10.1 %

Type of Reporting Person (See Instructions)

SCHEDULE 13D

CUSIP No.

55234L204

Name of reporting person

Perceptive LS (A), LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

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 18,659.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 18,659.00

Aggregate amount beneficially owned by each reporting person

18,659.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

1.1 %

Type of Reporting Person (See Instructions)

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. The percentage set forth in row 13 is based on 1,644,454 outstanding shares of Common Stock as of August 8, 2025 as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2025.

(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 in the past sixty days.

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:	11/10/2025

Joseph Edelman

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman
Date:	11/10/2025

Perceptive Life Sciences Master Fund, Ltd.

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman, Managing Member
Date:	11/10/2025

Perceptive LS (A), LLC

Signature:	Perceptive LS GP, LLC
Name/Title:	Joseph Edelman, Member
Date:	11/10/2025

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman, Member
Date:	11/10/2025

Amendment: SEC Form SCHEDULE 13D/A filed by Lyra Therapeutics Inc.