Tyra Biosciences has recently released its 10-Q report. Tyra Biosciences, Inc. is a clinical-stage biotechnology company focused on developing precision medicines that target fibroblast growth factor receptor, or FGFR, biology in the United States. Its SNÅP platform is used to guide drug design through iterative molecular snapshots, and the company’s pipeline includes oral dabogratinib, TYRA-300, TYRA-200 and TYRA-430 for oncology and genetically defined conditions.
In Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, Tyra said it has not generated any revenue to date and has funded operations through its IPO, private placements of convertible preferred stock, common stock and pre-funded warrant sales, and an at-the-market offering program. For the three months ended March 31, 2026, net loss widened to $39.3 million from $28.1 million in the same period of 2025. The accumulated deficit reached $410.6 million at March 31, 2026.
Cash, cash equivalents and marketable securities totaled $383.5 million at March 31, 2026. Management said that amount is expected to fund operating expenses and capital expenditures into the second half of 2028. The company also said it expects to continue posting significant expenses and operating losses as it advances clinical trials, research and development, regulatory work, intellectual property efforts and future commercialization infrastructure.
Research and development spending is driven by clinical trial costs, investigator grants, site payments, CRO and laboratory services, preclinical development, CMC consulting, manufacturing of compounds for studies, and regulatory compliance. Internal R&D costs include salaries, benefits, recruiting, travel, stock-based compensation, lab supplies, study materials, and allocated facility costs. Tyra said it expenses R&D as incurred and tracks external costs by program, while internal costs are not tracked on a program-specific basis because they support multiple development programs.
On the pipeline, oral dabogratinib has been administered to more than 100 participants across multiple clinical studies. The company said it is running three Phase 2 trials: SURF303 in low-grade upper tract urothelial carcinoma, SURF302 in intermediate-risk non-muscle invasive bladder cancer, and BEACH301 in achondroplasia. SURF303 has dosed its first patient, with initial results expected in 2027; SURF302 has enrolled more than 20 patients, with initial three-month complete response data expected in August 2026; and BEACH301 has enrolled a safety sentinel cohort and is enrolling a natural history run-in, with initial results expected in the fourth quarter of 2026.
TYRA-430 is in SURF431, a global Phase 1 trial in FGF19-positive hepatocellular carcinoma, while TYRA-200 is in SURF201, a global Phase 1 trial in FGFR2-driven intrahepatic cholangiocarcinoma resistant to prior FGFR inhibitors. Tyra said it was incorporated in 2018 and is headquartered in Carlsbad, California. Today the company's shares have moved 0.5% to a price of $35.045. If you want to know more, read the company's complete 10-Q report here.
