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Tyra Biosciences: RA Capital caps stake at 19.99%

RA Capital and affiliates disclose a 19.99% capped beneficial stake in Tyra Biosciences, including a large September 2026 Pre-Funded Warrant purchase.

(Moderate)
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Tyra Biosciences, Inc. (TYRA) received an updated Schedule 13D/A from RA Capital Management, L.P. and related reporting persons reflecting a sizable position capped by warrant terms. The group reports beneficial ownership of 14,130,492 shares of common stock, equal to 19.99% of the class, including common shares, stock options and Pre-Funded Warrants that are exercisable within 60 days, subject to a 19.99% ownership blocker.

The Fund purchased additional Pre-Funded Warrants on September 15, 2026, exercisable for up to 9,078,529 shares at $22.029 per warrant, for an aggregate $199,990,915.34, funded from its working capital. Each Pre-Funded Warrant has a de minimis exercise price of $0.001 per share, is immediately exercisable, does not expire, and includes a blocker preventing ownership above 19.99%, adjustable with 61 days’ notice.

Positive

  • None.

Negative

  • None.

Filing Explained

RA Capital reports 14,130,492 shares, while its warrant holdings remain constrained by the 19.99% exercise blocker.

This Schedule 13D/A reports the RA Capital group’s beneficial ownership at $14,130,492 shares, while separately identifying 11,616,986 shares underlying pre-funded warrants and 73,090 option shares, including 2,193 that are scheduled to vest within 60 days. The warrants are currently blocked from exercise to the extent it would take the group above 19.99%, so the disclosed warrant capacity is not the same as immediately exercisable ownership.

The filing says the ownership calculation uses 59,676,939 shares outstanding as of July 31, 2026, plus 9,079,000 common shares issued in the September offering. Those issued shares increase the share-count denominator used for existing holders’ percentage ownership.

The listed options include vesting entries dated September 28 and October 28, 2026, each with a $32.68 exercise price; these are the filing’s specified near-term changes to the reported securities inventory.

Beneficial ownership shares 14,130,492 shares Shares of Tyra Biosciences common stock beneficially owned by the reporting persons
Beneficial ownership percentage 19.99% Percentage of Tyra Biosciences common stock beneficially owned, subject to Beneficial Ownership Blocker
Shares outstanding baseline 59,676,939 shares Common stock outstanding as of July 31, 2026
Shares issued in September 2026 offering 9,079,000 shares Common stock issued in the September 2026 offering
New Pre-Funded Warrants purchased 9,078,529 warrants Pre-Funded Warrants exercisable for common shares acquired on September 15, 2026
Price per Pre-Funded Warrant $22.029 per warrant Purchase price in the September 2026 offering
Aggregate purchase price for new Pre-Funded Warrants $199,990,915.34 Total consideration paid by the Fund for the September 2026 Pre-Funded Warrants
Pre-Funded Warrant exercise price $0.001 per share Exercise price for each share of common stock under the Pre-Funded Warrants
Pre-Funded Warrants financial
"The terms of the Pre-Funded Warrants acquired in the September 2026 Offering are substantially identical"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
Beneficial Ownership Blocker regulatory
"The Pre-Funded Warrants contain a provision (the "Beneficial Ownership Blocker") which precludes exercise"
A beneficial ownership blocker is a legal or structural device that prevents a shareholder from being treated as the ultimate owner of enough shares to trigger control, reporting, or voting thresholds. Think of it like a speed bump that stops an investor from reaching a stake size that would force corporate disclosure or change control rights. Investors care because it affects who controls the company, how shares vote, regulatory filings, takeover risk and therefore potential value or liquidity of their holdings.
Schedule 13D regulatory
"may be deemed a beneficial owner, for purposes of Section 13(d) of the Act"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
fundamental transactions financial
"In the event of certain fundamental transactions (as described in the Pre-Funded Warrants), the Fund will be entitled"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Tyra Biosciences (TYRA) does RA Capital report owning in this 13D/A?

RA Capital, Peter Kolchinsky and Rajeev Shah report beneficial ownership of 19.99% of Tyra Biosciences’ common stock, based on 59,676,939 shares outstanding as of July 31, 2026 plus 9,079,000 shares issued in the September 2026 offering and equity exercisable within 60 days.

How many Tyra (TYRA) shares are reported as beneficially owned by the RA Capital group?

The reporting persons disclose 14,130,492 shares of Tyra Biosciences common stock as beneficially owned. This total includes common shares, shares underlying Pre-Funded Warrants and stock options that are exercisable or will vest within 60 days of the filing.

What new Pre-Funded Warrants did RA Capital buy in Tyra (TYRA) in September 2026?

On September 15, 2026, the Fund purchased Pre-Funded Warrants exercisable for up to 9,078,529 shares of Tyra common stock at $22.029 per warrant. The aggregate purchase price was $199,990,915.34, funded by the Fund’s working capital.

What are the key terms of Tyra (TYRA) Pre-Funded Warrants held by RA Capital?

Each Pre-Funded Warrant has an exercise price of $0.001 per share, is immediately exercisable, and will not expire. A Beneficial Ownership Blocker prevents exercises that would cause ownership above 19.99%, though that cap can be changed up to 19.99% effective after 61 days’ notice.

How is the 19.99% ownership cap for RA Capital’s Tyra (TYRA) warrants calculated?

The 19.99% cap is calculated using 59,676,939 shares outstanding as of July 31, 2026 plus 9,079,000 shares issued in the September 2026 offering, and then adjusted to include stock options and Pre-Funded Warrants exercisable within 60 days, as described in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates





90240B106

(CUSIP Number)
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)
09/15/2026

(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).




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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:09/17/2026
Peter Kolchinsky
Signature:/s/ Peter Kolchinsky
Name/Title:Peter Kolchinsky
Date:09/17/2026
Rajeev Shah
Signature:/s/ Rajeev Shah
Name/Title:Rajeev Shah
Date:09/17/2026
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:09/17/2026

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