Tyra Biosciences, Inc. reported its financial results for the third quarter ended September 30, 2026, alongside updates on its clinical pipeline. As of September 30, 2026, the company held $700.5 million in cash, cash equivalents, and marketable securities. The company stated that this financial position, combined with proceeds from a recent financing, is expected to fund operations through 2030.
In September 2026, Tyra completed a $400 million underwritten public offering of common stock and pre-funded warrants, led by RA Capital Management. This capital raise was intended to support the company's dabogratinib development strategy.
The company reported research and development expenses of $43.1 million for the third quarter of 2026, compared to $25.5 million in the same period in 2025. General and administrative expenses were $11.7 million for the recent quarter, up from $7.5 million in the prior year. The company reported a net loss of $51.1 million for the third quarter of 2026.
On the clinical front, Tyra reported initial results from its Phase 2 SURF302 study, which evaluates oral dabogratinib in patients with FGFR3-altered low-grade intermediate-risk non-muscle invasive bladder cancer (IR NMIBC). At a dose of 60 mg daily, the treatment demonstrated a 79% overall response rate and a 64% best overall response complete response rate among 14 participants. Among participants with a single marker lesion (n=8), the response rate was 100% with a 75% complete response rate. The company noted favorable safety and tolerability results, with no clinically significant hyperphosphatemia, nail toxicity, or ocular toxicity observed, and no Grade 3 treatment-related adverse events at the 60 mg dose.
Tyra also provided updates on its dabogratinib 3x3 strategy, which targets low-grade upper tract urothelial carcinoma (LG-UTUC), low-grade IR NMIBC, and achondroplasia. In its Phase 2 SURF303 study for LG-UTUC, the first participant treated with 60 mg daily achieved a complete response at the 3-month assessment. In its Phase 2 BEACH301 study for achondroplasia, the study has advanced through five dose levels in the safety sentinel cohort, and the Data Safety Monitoring Committee authorized the opening of a sixth dose level to evaluate 0.875 mg/kg.
