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RA Capital discloses 21.2% Tyra Biosciences (TYRA) stake after dilution

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Tyra Biosciences, Inc. received an updated Schedule 13D/A showing RA Capital’s group now beneficially owns 12,266,575 shares of common stock, or 21.2% of the company.

The filing states this change results from dilution of their stake after additional Tyra shares were issued, rather than new buying or selling by the RA Capital entities.

The ownership includes shares held by RA Capital Healthcare Fund, a separately managed account, RA Capital Nexus Fund, and stock options and warrants tied to RA Capital, some of which are subject to a 19.99% beneficial ownership blocker that currently prevents further warrant exercises.

Positive

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Insights

RA Capital discloses a diluted but still large 21.2% TYRA stake.

The amendment reports that RA Capital–related entities beneficially own 12,266,575 Tyra Biosciences shares, representing 21.2% of the common stock. The change is attributed to dilution from new Tyra share issuance, not to additional purchases or sales by the reporting group.

Ownership spans the RA Capital Healthcare Fund, a separately managed account, RA Capital Nexus Fund, and Tyra equity awards held for RA Capital’s benefit. Warrants for up to 2,538,457 shares are subject to a 19.99% “Beneficial Ownership Blocker,” limiting exercises once that threshold would be exceeded.

The percentage calculation is based on 53,867,115 shares outstanding as of February 25, 2026 plus 4,000,000 shares issued in a block transaction under Tyra’s at-the-market program. Future changes in Tyra’s share count or warrant exercises, as allowed under the blocker, would be reflected in later ownership updates.






Peter Kolchinsky
RA Capital Management, L.P., 200 Berkeley Street, 18th Floor
Boston, MA, 02116
617.778.2500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
03/04/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D


RA Capital Management, L.P.
Signature:/s/ Peter Kolchinsky
Name/Title:By Peter Kolchinsky, Authorized Signatory
Date:03/06/2026
Peter Kolchinsky
Signature:/s/ Peter Kolchinsky
Name/Title:Peter Kolchinsky
Date:03/06/2026
Rajeev Shah
Signature:/s/ Rajeev Shah
Name/Title:Rajeev Shah
Date:03/06/2026
RA Capital Healthcare Fund, L.P.
Signature:/s/ Peter Kolchinsky
Name/Title:By RA Capital Healthcare Fund GP, LLC, its General Partner, By Peter Kolchinsky, Manager
Date:03/06/2026

FAQ

How much of Tyra Biosciences (TYRA) does RA Capital currently beneficially own?

RA Capital–related entities report beneficial ownership of 12,266,575 Tyra Biosciences common shares, representing 21.2% of the company’s outstanding stock. This figure aggregates holdings across the RA Capital Healthcare Fund, a separately managed account, RA Capital Nexus Fund, and certain stock options and warrants.

Why did RA Capital file this Amendment No. 6 to its Tyra Biosciences Schedule 13D?

The amendment was filed to report dilution of RA Capital’s beneficial ownership percentage in Tyra Biosciences common stock. The filing explains the change results from additional Tyra shares being issued, rather than from any new acquisitions or dispositions by the RA Capital reporting group.

What share count and transactions were used to calculate RA Capital’s 21.2% stake in TYRA?

The 21.2% figure is based on 53,867,115 shares outstanding as of February 25, 2026 plus 4,000,000 new shares issued in a block transaction under Tyra’s at-the-market program, adjusted for stock options and certain exercisable warrants referenced in the amendment.

What warrants and options related to Tyra Biosciences does RA Capital report?

RA Capital’s ownership includes Pre-Funded Warrants for up to 1,538,457 shares, Exchange Warrants for up to 1,000,000 shares, and options over 22,200 shares at $9.25 per share, some of which vest or are exercisable within 60 days of the filing date.

What is the 19.99% Beneficial Ownership Blocker mentioned in the RA Capital TYRA filing?

The Pre-Funded and Exchange Warrants include a Beneficial Ownership Blocker at 19.99%. This provision prevents exercises that would cause the RA Capital Healthcare Fund and its attribution parties to own more than 19.99% of Tyra’s common stock, and currently prohibits exercising those warrants.

Which entities and individuals are included as reporting persons in the RA Capital TYRA Schedule 13D/A?

The amendment lists RA Capital Management, L.P., RA Capital Healthcare Fund, L.P., and individuals Peter Kolchinsky and Rajeev Shah as reporting persons. RA Capital serves as investment adviser to the funds and accounts that hold Tyra Biosciences securities.
Tyra Biosciences, Inc.

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