Tyra Biosciences to Raise $400M in Equity Offering

By Tamara Parker • Tuesday, September 15 10:53 • Permanent Link

Tyra Biosciences is set to raise about $400.0 million in a new equity offering, selling 9,079,000 shares of common stock at $22.03 apiece and, for certain investors, 9,078,529 pre-funded warrants at $22.029 each.

The company said the stock and warrants are being sold by Tyra itself, with gross proceeds expected to total approximately $400.0 million before underwriting discounts, commissions and other expenses. The deal is expected to close on September 15, 2026.

Tyra said it plans to use the net proceeds, along with existing cash, cash equivalents and marketable securities, to push forward its “dabogratinib 3x3” program in low-grade upper tract urothelial carcinoma, intermediate-risk non-muscle invasive bladder cancer and achondroplasia. The company also said the funds will support preclinical and drug discovery work, working capital and other general corporate purposes.

The offering was led by RA Capital Management and included participation from both new and existing institutional investors, among them Invus, Commodore Capital, BVF Partners, Janus Henderson Investors, Trails Edge Capital Partners, Integral Health Asset Management, TCGX and Stempoint Capital LP, along with multiple large investment management firms.

Jefferies, Guggenheim Securities, Cantor, Barclays and William Blair are serving as joint book-running managers, with Wedbush PacGrow, Raymond James and Oppenheimer & Co. acting as lead managers. As a result of these announcements, the company's shares have moved 0.38% on the market, and are now trading at a price of $25.165. For more information, read the company's full 8-K submission here.

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