If You Invested in Tyra Biosciences, Inc. (TYRA)

Tyra Biosciences, Inc. (Nasdaq: TYRA) is a clinical-stage biotechnology company operating in the research and development segment of biotechnology within the professional, scientific, and technical services sector. According to its public disclosures, Tyra Biosciences focuses on developing next-generation precision medicines that target opportunities in Fibroblast Growth Factor Receptor (FGFR) biology, with an emphasis on genetically defined conditions and targeted oncology. The company is based in Carlsbad, California and its common stock trades on the Nasdaq Global Select Market under the symbol TYRA.

Tyra Biosciences has built its pipeline around an in-house precision medicine discovery engine called SNÅP. The company states that SNÅP enables rapid and precise drug design through iterative molecular “SNÅPshots” that help predict genetic alterations most likely to cause acquired resistance to existing therapies. This platform is used to design oral, small-molecule FGFR inhibitors with specific selectivity profiles intended to address FGFR-driven diseases.

Focus on FGFR Biology and Precision Medicines

Across its communications, Tyra Biosciences describes a focused expertise in FGFR biology. The company reports that this focus has created a differentiated pipeline with clinical-stage programs in targeted oncology and genetically defined conditions. Its programs are centered on inhibiting different FGFR family members (FGFR1, FGFR2, FGFR3 and FGFR4) in ways that are intended to match the underlying genetic drivers of disease.

The company highlights that its lead precision medicine candidates are designed as oral, investigational FGFR-selective inhibitors. These candidates are being evaluated in conditions where FGFR pathway alterations are known to play a role, including skeletal dysplasias and specific cancers such as non-muscle invasive bladder cancer, metastatic urothelial carcinoma, intrahepatic cholangiocarcinoma and hepatocellular carcinoma, as described in Tyra’s press releases and SEC filings.

Key Pipeline Programs

Tyra Biosciences’ disclosures describe three main clinical-stage product candidates stemming from the SNÅP platform:

• Dabogratinib (formerly TYRA-300): Tyra describes dabogratinib as its lead precision medicine candidate and a potential first-in-class, oral, FGFR3-selective inhibitor. It is being developed for the treatment of skeletal dysplasia and urologic cancers. The company reports that dabogratinib has demonstrated interim clinical proof-of-concept results in metastatic urothelial carcinoma (mUC) and is being evaluated in multiple planned or ongoing Phase 2 studies, including:
  • BEACH301 – a Phase 2, multicenter, open-label, dose-escalation/dose-expansion study in children with pediatric achondroplasia, a form of skeletal dysplasia.
  • SURF302 – a Phase 2, open-label clinical study in participants with FGFR3-altered low-grade intermediate risk non-muscle invasive bladder cancer (IR NMIBC).
  • SURF303 – a planned Phase 2 study in low-grade upper tract urothelial carcinoma (LG-UTUC), where Tyra notes that FGFR3 alterations occur in a high proportion of cases.
  • SURF301 – a Phase 1/2 study in metastatic urothelial carcinoma (mUC), where dabogratinib continues to be evaluated at once-daily doses.
• TYRA-430: Tyra describes TYRA-430 as an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers. It is being studied in SURF431, a Phase 1, multicenter, open-label, first-in-human study enrolling adults with advanced hepatocellular carcinoma (HCC) and other solid tumors with activating FGF/FGFR pathway aberrations.
• TYRA-200: TYRA-200 is described as an oral, investigational FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations and resistance mutations. It is being evaluated in SURF201, a Phase 1, multi-center, open-label study in adults with unresectable locally advanced or metastatic intrahepatic cholangiocarcinoma and other advanced solid tumors with activating FGFR2 alterations.

Clinical-Stage Development Areas

Based on company press releases and SEC filings, Tyra Biosciences is concentrating its clinical development on two broad areas:

• Genetically defined skeletal dysplasias: The company is developing dabogratinib for achondroplasia, which it describes as the most common form of dwarfism and a skeletal dysplasia caused by an alteration in FGFR3. Tyra notes that dabogratinib is an oral FGFR3-selective inhibitor designed to target the root cause of achondroplasia and that it is the only oral FGFR3-selective inhibitor in clinical development for this condition according to its communications.
• FGFR-driven cancers: Tyra’s programs include clinical studies in non-muscle invasive bladder cancer, metastatic urothelial carcinoma, intrahepatic cholangiocarcinoma and hepatocellular carcinoma, all in settings where FGFR pathway alterations are relevant. The company emphasizes the use of FGFR-selective inhibitors to match these molecular drivers.

Regulatory Designations and Trial Design Features

Tyra Biosciences reports that the U.S. Food and Drug Administration has granted Orphan Drug Designation (ODD) and Rare Pediatric Disease (RPD) Designation to dabogratinib for the treatment of achondroplasia. The company describes multiple ongoing or planned multicenter, open-label Phase 1 and Phase 2 studies, with endpoints such as safety, tolerability, complete response rate, time to recurrence, duration of response, and progression-free survival, as detailed in its press releases and the related Form 8-K filings.

The company’s disclosures also highlight that its clinical trials enroll participants at sites across different regions, including global enrollment for the BEACH301 pediatric achondroplasia study and multiple sites primarily in the United States for the SURF302 IR NMIBC study.

Business Model and Stage

From the available information, Tyra Biosciences is described as a clinical-stage company. Its activities, as reported in press releases and SEC filings, are focused on research and development, clinical trial execution, and regulatory strategy for its investigational drug candidates. The company’s reported financial results emphasize research and development expenses, general and administrative expenses, and net loss, consistent with an early-stage biotechnology business that is investing in clinical programs rather than commercial operations.

Stock Information

According to Tyra’s Form 8-K filed on June 30, 2025, the company’s common stock, par value $0.0001 per share, is registered on the Nasdaq Global Select Market under the trading symbol TYRA. The filings and press releases do not indicate any delisting, deregistration, merger completion, or bankruptcy events, and instead reference ongoing clinical and corporate activities.

Summary

In summary, Tyra Biosciences, Inc. is a Carlsbad, California-based, clinical-stage biotechnology company listed on Nasdaq under the symbol TYRA. It focuses on precision medicines in FGFR biology, built on its SNÅP platform, and has a pipeline of oral FGFR-targeted small molecules in clinical development for achondroplasia, non-muscle invasive bladder cancer, metastatic urothelial carcinoma, intrahepatic cholangiocarcinoma, hepatocellular carcinoma and other FGFR-driven conditions, as described in its public communications.