Tyra Biosciences Q3 loss widens to $51.1M
At quarter-end, Tyra reported $700.5 million in cash, cash equivalents and marketable securities, and expects resources to fund planned operations through 2030.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Tyra Biosciences, Inc. reported third-quarter 2026 results and clinical progress for dabogratinib, its investigational FGFR3-selective inhibitor. Cash, cash equivalents and marketable securities were $700.5 million as of September 30, 2026. Tyra completed a September underwritten public offering of common stock and pre-funded warrants with approximately $400 million in gross proceeds; it expects current resources to fund planned operations through 2030.
In Phase 2 SURF302, 60 mg once daily demonstrated a 79% overall response rate and a 64% best overall response complete-response rate among 14 participants with single and multiple marker lesions. Among eight participants with a single marker lesion, rates were 100% and 75%, respectively. No Grade 3 treatment-related adverse events were reported at 60 mg. Phase 3 adjuvant study initiation is expected in 2027, subject to regulatory feedback.
Third-quarter R&D expenses were $43.1 million versus $25.5 million, G&A expenses were $11.7 million versus $7.5 million, and net loss was $51.1 million versus $29.9 million for the same period in 2025.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- None.
Negative
- Moderate pointThird-quarter net loss rose to $51.1 million from $29.9 million in 2025.
8-K Event Classification
Key Figures
Key Terms
overall response rate medical
best overall response medical
pre-funded warrants financial
Data Safety Monitoring Committee medical
Earnings Snapshot
Tyra expects current financial resources to fund planned operations through 2030.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were TYRA's Phase 2 SURF302 results?
How much cash did TYRA report, and how long does it expect to fund operations?
When does TYRA expect to start the SURF302 Phase 3 study?
Why did TYRA's R&D expenses increase?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On November 10, 2026, Tyra Biosciences, Inc. issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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Press Release Issued on November 10, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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TYRA BIOSCIENCES, INC. |
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November 10, 2026 |
By: |
/s/ Alan Fuhrman |
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Alan Fuhrman |
Exhibit 99.1
Tyra Biosciences Reports Third Quarter 2026 Financial Results and Recent Highlights
Reported initial Phase 2 SURF302 results for oral dabogratinib in FGFR3-altered low-grade IR NMIBC patients
Completed $400 million financing, providing additional capital to advance dabogratinib’s 3x3 strategy
Cash runway through 2030 with cash, cash equivalents and marketable securities of $700.5 million as of September 30, 2026
CARLSBAD, Calif., November 10, 2026 – Tyra Biosciences, Inc. (Nasdaq: TYRA), a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology, today reported financial results for the third quarter ended September 30, 2026, and highlighted recent corporate progress.
“2026 has been a defining year for TYRA. With the initial results from SURF302 in the ablative setting, we believe dabogratinib has the potential to be the first oral FGFR3-selective inhibitor in intermediate-risk non-muscle invasive bladder cancer (IR NMIBC), reinforcing our conviction in the potential of precision FGFR3 inhibition to fundamentally change the treatment paradigm for patients,” said Todd Harris, PhD, President and Chief Executive Officer of TYRA. “For too long, patients have faced a cycle of repeated procedures and surveillance, often simply waiting for their cancer to recur. We believe dabogratinib has the potential to break this cycle by offering a differentiated, first-in-class oral product candidate that could transform how patients and physicians manage this chronic, recurrent disease.”
Dr. Harris continued, “With a strengthened balance sheet following our $400 million financing, TYRA is entering its next phase of growth from a position of strength. We now have the financial resources to advance our dabogratinib 3x3 strategy through late-stage clinical development. As we prepare for regulatory engagement and planned Phase 3 development, we believe the opportunity for a highly selective, oral FGFR3 inhibitor has never been clearer. We look forward to building on our recent momentum as we work to establish dabogratinib as a potentially transformative therapy for patients with FGFR3-driven diseases.”
Third Quarter and Recent Corporate Highlights
Dabogratinib 3x3 Strategy
During the third quarter of 2026, TYRA achieved a significant milestone in its dabogratinib 3x3 strategy with initial clinical results in IR NMIBC. The strategy is focused on advancing oral dabogratinib, an investigational FGFR3-selective inhibitor, across three potentially pivotal development programs in low-grade upper tract urothelial carcinoma (LG-UTUC), low-grade IR NMIBC and achondroplasia (ACH).
Corporate
SNÅP Platform and Pipeline
Third Quarter Financial Results
Upcoming Anticipated Clinical Milestones:
About Dabogratinib (formerly TYRA-300)
Dabogratinib is TYRA’s lead precision medicine candidate stemming from its in-house SNÅP platform. Dabogratinib is an investigational, oral, FGFR3-selective inhibitor currently in Phase 2 development for the treatment of urologic cancers and skeletal dysplasias, specifically LG-UTUC, low-grade IR NMIBC and ACH. We believe dabogratinib was the first orally available, FGFR3-selective inhibitor to enter clinical development, and it has been studied in more than 200 individuals to date across multiple clinical and healthy volunteer studies.
Oral dabogratinib is currently advancing in three Phase 2 clinical trials for LG-UTUC (SURF303), low-grade IR NMIBC (SURF302), and ACH (BEACH301). The FDA has granted Orphan Drug Designation and Rare Pediatric Disease Designation to oral dabogratinib for the treatment of achondroplasia.
Please visit the Patients page of our website for more information on our clinical trials.
About Tyra Biosciences
Tyra Biosciences, Inc. (Nasdaq: TYRA) is a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in FGFR biology. TYRA’s in-house precision medicine platform, SNÅP, enables rapid and precise drug design through iterative molecular SNÅPshots that help TYRA design and predict which candidates may demonstrate the highest potency, selectivity and tolerability in the clinic. TYRA’s expertise in FGFR biology has created a differentiated pipeline with clinical-stage programs in targeted oncology and genetically defined conditions. TYRA’s lead precision medicine stemming from SNÅP, oral dabogratinib, is a potential first-in-class selective FGFR3 inhibitor in development for LG-UTUC, low-grade IR NMIBC and ACH. TYRA is also developing TYRA-430, an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers, in the SURF431 study for advanced hepatocellular carcinoma, and TYRA-200, an oral, investigational, FGFR1/2/3 inhibitor, in the SURF201 study for metastatic intrahepatic cholangiocarcinoma. TYRA is based in Carlsbad, CA.
For more information about our science, pipeline and people, please visit www.tyra.bio and engage with us on LinkedIn.
Forward-Looking Statements
TYRA cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: the expected advancement of our pipeline and our growth; the potential to execute on our dabogratinib 3x3 strategy; the potential to develop next-generation precision medicines and their potential to be first-in-class; the potential safety and therapeutic benefits of, and market opportunities for, our product candidates; the expected trial design, timing and phase of development of our product candidates, including timing for data readouts and patient dosing and the potential for trials to be registrational; the potential for SNÅP to develop therapies; and our expected cash runway. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: initial or interim results of a clinical trial are not necessarily indicative of final results and one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data, as follow-up on the outcome of any particular patient continues and as more patient or final data becomes available, including the risk that unconfirmed responses may not ultimately result in confirmed responses to treatment after follow-up evaluations; the potential for proof-of-concept results to fail to result in successful subsequent development of oral dabogratinib; later developments with the FDA may be inconsistent with prior feedback from the FDA; we are early in our development efforts, and the approach we are taking to discover and develop drugs based on our SNÅP platform is novel and unproven and it may never lead to product candidates that are successful in clinical development or approved products of commercial value; potential delays in the commencement, recruitment,
enrollment, data readouts and completion of preclinical studies and clinical trials; results from preclinical studies or early clinical trials not necessarily being predictive of future results; our dependence on third parties in connection with manufacturing, research and preclinical testing; we may expend our limited resources to pursue a particular product candidate and/or indication and fail to capitalize on product candidates or indications with greater development or commercial potential; acceptance by the FDA of INDs or of similar regulatory submissions by comparable foreign regulatory authorities for the conduct of clinical trials of our product candidates; an accelerated development or approval pathway may not be available for oral dabogratinib or other product candidates and any such pathway may not lead to a faster development process; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval, and/or commercialization; the potential for our programs and prospects to be negatively impacted by developments relating to our competitors, including the results of studies or regulatory determinations relating to our competitors; regulatory and legislative developments in the United States and foreign countries, including with respect to healthcare and trade policies; we may not realize the benefits associated with Orphan Drug Designation or Rare Pediatric Disease Designation; our ability to obtain and maintain intellectual property protection for our product candidates and proprietary technologies; we may use our capital resources sooner than we expect; geopolitical instability, war, inflation and interest rate changes; and other risks described in our prior filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our annual report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contact:
Amy Conrad
aconrad@tyra.bio
Tyra Biosciences, Inc.
Condensed Balance Sheets
(in thousands)
(unaudited)
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September 30, |
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December 31, |
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2026 |
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2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
456,016 |
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$ |
77,387 |
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Marketable securities |
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244,532 |
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178,616 |
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Prepaid expenses and other current assets |
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11,070 |
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9,447 |
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Total current assets |
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711,618 |
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265,450 |
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Restricted cash |
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884 |
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1,000 |
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Property and equipment, net |
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1,084 |
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1,314 |
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Right-of-use assets |
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5,179 |
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5,573 |
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Other long-term assets |
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8,761 |
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9,272 |
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Total assets |
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$ |
727,526 |
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$ |
282,609 |
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Liabilities and Stockholders’ Equity |
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Current liabilities: |
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Accounts payable |
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$ |
3,301 |
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$ |
1,178 |
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Lease liabilities, current |
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521 |
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472 |
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Accrued expenses and other current liabilities |
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25,917 |
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16,444 |
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Total current liabilities |
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29,739 |
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18,094 |
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Lease liabilities, noncurrent |
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4,943 |
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5,338 |
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Total liabilities |
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34,682 |
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23,432 |
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Stockholders’ equity: |
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Preferred stock |
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— |
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— |
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Common stock |
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7 |
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5 |
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Additional paid-in capital |
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1,201,364 |
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630,037 |
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Accumulated other comprehensive income (loss) |
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(1,284 |
) |
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393 |
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Accumulated deficit |
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(507,243 |
) |
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(371,258 |
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Total stockholders’ equity |
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692,844 |
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259,177 |
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Total liabilities and stockholders’ equity |
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$ |
727,526 |
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$ |
282,609 |
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Tyra Biosciences, Inc.
Condensed Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
(unaudited)
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Three Months Ended |
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Nine Months Ended |
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2026 |
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2025 |
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2026 |
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2025 |
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Operating expenses: |
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Research and development |
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$ |
43,144 |
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$ |
25,469 |
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$ |
115,812 |
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$ |
74,742 |
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General and administrative |
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11,741 |
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7,475 |
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30,075 |
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21,504 |
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Total operating expenses |
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54,885 |
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32,944 |
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145,887 |
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96,246 |
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Loss from operations |
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(54,885 |
) |
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(32,944 |
) |
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(145,887 |
) |
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(96,246 |
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Other income: |
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Interest and other income, net |
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3,763 |
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3,076 |
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9,902 |
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10,133 |
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Total other income |
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3,763 |
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3,076 |
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9,902 |
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10,133 |
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Net loss |
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(51,122 |
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(29,868 |
) |
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(135,985 |
) |
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(86,113 |
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Unrealized gain (loss) on marketable securities, net |
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(704 |
) |
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6 |
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(1,677 |
) |
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(328 |
) |
Comprehensive loss |
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$ |
(51,826 |
) |
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$ |
(29,862 |
) |
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$ |
(137,662 |
) |
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$ |
(86,441 |
) |
Net loss per share, basic and diluted |
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$ |
(0.74 |
) |
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$ |
(0.50 |
) |
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$ |
(2.07 |
) |
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$ |
(1.45 |
) |
Weighted-average shares used to compute net |
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69,082,673 |
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59,670,757 |
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65,633,506 |
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59,523,977 |
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