Tyra Biosciences, Inc. (TYRA) has entered into an underwriting agreement dated September 14, 2026, to sell a combined total of approximately 18.16 million securities. The offering consists of 9,079,000 shares of common stock and, for certain investors, 9,078,529 pre-funded warrants to purchase common stock. The common stock is priced at $22.03 per share, while the pre-funded warrants are priced at $22.029 per warrant, which reflects the common stock price less a nominal $0.001 exercise price.
The gross proceeds to the company are expected to be approximately $400.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on September 15, 2026, subject to customary closing conditions.
The underwriters named in the agreement are Jefferies LLC, Guggenheim Securities, LLC, Cantor Fitzgerald & Co., and Barclays Capital Inc. The offering is being led by RA Capital Management, with participation from Invus, Commodore Capital, BVF Partners, Janus Henderson Investors, and other institutional investors. Jefferies, Guggenheim, Cantor, and Barclays are serving as joint book-running managers, while Wedbush PacGrow, Raymond James, and Oppenheimer & Co. are acting as lead managers.
Tyra intends to use the net proceeds from this offering, together with its existing cash, cash equivalents, and marketable securities, to advance its development strategy for dabogratinib in low-grade upper tract urothelial carcinoma, intermediate-risk non-muscle invasive bladder cancer, and achondroplasia. The funds will also support preclinical and drug discovery programs, working capital, and other general corporate purposes.
