Tyra Biosciences (NASDAQ: TYRA) details Q2 loss and $353.9M cash
Rhea-AI Filing Summary
Tyra Biosciences, Inc. reported second quarter 2026 results as a clinical-stage biotechnology company focused on FGFR biology. For the quarter ended June 30, 2026, net loss was $45.6 million, with research and development expenses of $39.2 million and general and administrative expenses of $9.8 million. Net loss per share was $0.69 basic and diluted. As of June 30, 2026, cash, cash equivalents and marketable securities totaled $353.9 million.
Management highlighted its “dabogratinib 3x3” strategy, advancing three Phase 2 trials (SURF303 in LG-UTUC, SURF302 in IR NMIBC and BEACH301 in achondroplasia), with initial SURF302 data expected in September 2026 and BEACH301 safety cohort data by end of first quarter 2027. The safety sentinel cohort in BEACH301 has cleared four dose levels without notable safety events, and a fifth dose level has been opened. Tyra appointed Jonathan Day as Executive Vice President, Clinical Development for skeletal dysplasia conditions and amended its at-the-market equity sales agreement, enabling up to an additional $250.0 million in common stock sales. Current cash resources are expected to fund planned operations into the second half of 2028.
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Filing Explained
The August 4 Form 8-K reports an amended at-the-market arrangement giving Tyra Biosciences capacity to sell up to
8-K Event Classification
Key Figures
Key Terms
Fibroblast Growth Factor Receptor (FGFR) medical
at-the-market offerings financial
Orphan Drug Designation medical
Rare Pediatric Disease Designation medical
achondroplasia medical
Earnings Snapshot
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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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 August 4, 2026, Tyra Biosciences, Inc. issued a press release announcing its financial results for the quarter ended June 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 August 4, 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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August 4, 2026 |
By: |
/s/ Alan Fuhrman |
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Alan Fuhrman |
Exhibit 99.1
Tyra Biosciences Reports Second Quarter 2026 Financial Results and Recent Highlights
- Initial Ph2 data from SURF302 expected in September 2026 (n>40 enrolled to date) -
- Initial Ph2 data from safety sentinel cohort (aggregate of ~25 children) in BEACH301, including new 5th dose level, now expected end of Q1 2027 -
- Appointed Jonathan Day as EVP, Clinical Development to advance skeletal dysplasia strategy -
- Cash, cash equivalents and marketable securities of $353.9 million at Q2 2026; runway into 2H 2028 -
CARLSBAD, Calif., August 4, 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 second quarter ended June 30, 2026, and highlighted recent corporate progress.
“September marks an important milestone for TYRA as we prepare to share initial clinical data from SURF302 evaluating oral dabogratinib in intermediate-risk non-muscle invasive bladder cancer (IR NMIBC). Patients with IR NMIBC often endure a lifelong cycle of recurrent disease, repeated surgical procedures, catheterization, and ongoing surveillance, highlighting the need for more convenient and effective treatment options. We believe dabogratinib has the potential to redefine the treatment paradigm as the first targeted oral therapy for FGFR3-driven IR NMIBC, addressing the underlying biology of the disease while offering the convenience of an oral therapy,” said Todd Harris, PhD, President and Chief Executive Officer of TYRA.
Dr. Harris continued, “Beyond SURF302, we continue to advance our broader pipeline, including progressing BEACH301 to a fifth dose level in achondroplasia, and strengthening our skeletal dysplasia leadership with the addition of Jonathan Day, whose work was instrumental in the development of vosoritide. Across our portfolio, we remain focused on realizing the full potential of oral dabogratinib for patients with FGFR3-driven conditions and diseases.”
“Over the past decade, I’ve had the privilege of helping advance therapies that have transformed the treatment landscape for children with achondroplasia. I believe there is still meaningful opportunity to further improve outcomes, and TYRA’s highly selective approach to FGFR3 inhibition offers a compelling opportunity to do just that,” commented Dr. Day, TYRA’s newly appointed Executive Vice President, Clinical Development. “I’m excited to join the team and help advance dabogratinib as we work to develop a differentiated oral therapy for children with achondroplasia and their families.”
Second Quarter and Recent Corporate Highlights
Dabogratinib 3x3 Strategy
In the second quarter of 2026, TYRA continued to advance its “dabogratinib 3x3” strategy: developing the first orally available, FGFR3-selective inhibitor in 3 future potentially pivotal clinical studies to support regulatory submissions with the aim to commercialize in 3 potential blockbuster indications: LG-UTUC, IR NMIBC and ACH.
Corporate
SNÅP Platform and Pipeline
Second 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, 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), 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, 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, including the potential for them to be blockbusters; 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 or global; the potential for SNÅP to develop therapies; our commercialization plan for oral dabogratinib; 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; our ability to establish marketing and sales capabilities to successfully commercialize any approved products; 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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June 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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$ |
73,835 |
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$ |
77,387 |
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Marketable securities |
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280,109 |
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178,616 |
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Prepaid expenses and other current assets |
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13,022 |
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9,447 |
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Total current assets |
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366,966 |
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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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1,173 |
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1,314 |
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Right-of-use assets |
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5,311 |
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5,573 |
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Other long-term assets |
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9,028 |
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9,272 |
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Total assets |
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$ |
383,362 |
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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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$ |
2,334 |
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$ |
1,178 |
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Lease liabilities, current |
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504 |
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472 |
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Accrued expenses and other current liabilities |
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21,782 |
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16,444 |
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Total current liabilities |
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24,620 |
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18,094 |
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Lease liabilities, noncurrent |
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5,078 |
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5,338 |
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Total liabilities |
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29,698 |
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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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6 |
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5 |
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Additional paid-in capital |
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810,359 |
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630,037 |
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Accumulated other comprehensive income (loss) |
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(580 |
) |
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393 |
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Accumulated deficit |
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(456,121 |
) |
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(371,258 |
) |
Total stockholders’ equity |
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353,664 |
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259,177 |
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Total liabilities and stockholders’ equity |
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$ |
383,362 |
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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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Six 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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$ |
39,197 |
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$ |
24,309 |
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$ |
72,667 |
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$ |
49,273 |
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General and administrative |
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9,806 |
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7,143 |
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18,334 |
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14,029 |
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Total operating expenses |
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49,003 |
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31,452 |
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91,001 |
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63,302 |
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Loss from operations |
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(49,003 |
) |
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(31,452 |
) |
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(91,001 |
) |
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(63,302 |
) |
Other income: |
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Interest and other income, net |
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3,445 |
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3,354 |
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6,138 |
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7,057 |
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Total other income |
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3,445 |
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3,354 |
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6,138 |
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7,057 |
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Net loss |
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(45,558 |
) |
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(28,098 |
) |
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(84,863 |
) |
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(56,245 |
) |
Unrealized loss on marketable securities, net |
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(687 |
) |
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(252 |
) |
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(973 |
) |
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(334 |
) |
Comprehensive loss |
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$ |
(46,245 |
) |
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$ |
(28,350 |
) |
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$ |
(85,836 |
) |
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$ |
(56,579 |
) |
Net loss per share, basic and diluted |
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$ |
(0.69 |
) |
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$ |
(0.47 |
) |
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$ |
(1.33 |
) |
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$ |
(0.95 |
) |
Weighted-average shares used to compute net |
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65,991,171 |
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59,550,771 |
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63,880,337 |
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59,442,646 |
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