Tyra Biosciences, Inc. priced an underwritten public offering on September 14, 2026, raising approximately $400 million in gross proceeds before expenses. The company sold 9,079,000 shares of common stock at $22.03 per share and issued pre-funded warrants for 9,078,529 additional shares at $22.029 each to certain investors. Jefferies LLC, Guggenheim Securities, Cantor Fitzgerald & Co., and Barclays Capital Inc. served as underwriters. The offering is expected to close on September 15, 2026. Tyra intends to use the net proceeds to advance its dabogratinib development strategy for low-grade upper tract urothelial carcinoma, non-muscle invasive bladder cancer, and achondroplasia, as well as for preclinical programs and general corporate purposes. Tyra Biosciences is a clinical-stage biotechnology company focused on developing precision medicines targeting FGFR biology.

Tyra Biosciences announced initial results from its Phase 2 SURF302 study of oral dabogratinib in FGFR3-altered low-grade intermediate-risk non-muscle invasive bladder cancer. The data identified a 60 mg once-daily dose as optimal for the planned adjuvant strategy, showing an overall response rate of 79% and a complete response rate of 57% at three months with favorable safety profiles. The company plans to engage health authorities on Phase 3 design and initiate a registrational study in 2027. Additionally, Tyra reported a complete response in the first patient of its SURF303 trial for upper tract urothelial cancer and cleared the fifth dose level in its pediatric achondroplasia study BEACH301 without safety signals. The company operates in the biotechnology industry, developing targeted therapies for oncology and rare diseases.

Tyra Biosciences reported a net loss of $45.6 million for the quarter ended June 30, 2026, compared to $28.1 million in the prior year period. Research and development expenses increased to $39.2 million from $24.3 million, while general and administrative costs rose to $9.8 million from $7.1 million. The company held $353.9 million in cash, cash equivalents, and marketable securities as of June 30, 2026, providing a runway into the second half of 2028. Tyra appointed Jonathan Day as Executive Vice President of Clinical Development to lead its skeletal dysplasia strategy. The company also amended an at-the-market sales agreement with TD Securities, allowing for up to $250 million in additional share sales. Initial Phase 2 data from the SURF302 study is expected in September 2026, while BEACH301 safety sentinel cohort results are anticipated by the end of Q1 2027. Tyra Biosciences operates as a clinical-stage biotechnology company focused on developing precision medicines targeting FGFR biology.