STOCK TITAN

Tyra Biosciences Reports Fourth Quarter and Full Year 2024 Financial Results and Highlights

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags

Tyra Biosciences (NASDAQ: TYRA) reported its Q4 and full year 2024 financial results, highlighting significant progress in its precision medicine pipeline. The company ended 2024 with $341.4 million in cash and equivalents, providing runway through 2027.

Key developments include three FDA-cleared INDs for TYRA's precision small molecules, with TYRA-300 advancing to three Phase 2 studies: SURF302 for bladder cancer, BEACH301 for pediatric achondroplasia, and SURF301 for metastatic urothelial cancer. Notably, SURF301 showed promising interim results with 54.5% of patients achieving confirmed partial response.

Financial results show Q4 2024 net loss of $25.6 million compared to $22.8 million in Q4 2023. Full-year 2024 net loss was $86.5 million. R&D expenses increased to $80.1 million for 2024, up from $62.5 million in 2023.

Tyra Biosciences (NASDAQ: TYRA) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, evidenziando progressi significativi nel suo pipeline di medicina di precisione. L'azienda ha chiuso il 2024 con 341,4 milioni di dollari in contante e equivalenti, garantendo risorse fino al 2027.

Sviluppi chiave includono tre IND approvati dalla FDA per le piccole molecole di precisione di TYRA, con TYRA-300 che avanza verso tre studi di Fase 2: SURF302 per il cancro alla vescica, BEACH301 per l'achondroplasia pediatrica e SURF301 per il cancro uroteliale metastatico. È importante notare che SURF301 ha mostrato risultati intermedi promettenti, con il 54,5% dei pazienti che ha raggiunto una risposta parziale confermata.

I risultati finanziari mostrano una perdita netta nel quarto trimestre 2024 di 25,6 milioni di dollari rispetto ai 22,8 milioni di dollari nel quarto trimestre 2023. La perdita netta per l'intero anno 2024 è stata di 86,5 milioni di dollari. Le spese per ricerca e sviluppo sono aumentate a 80,1 milioni di dollari per il 2024, rispetto ai 62,5 milioni di dollari nel 2023.

Tyra Biosciences (NASDAQ: TYRA) informó sus resultados financieros del cuarto trimestre y del año completo 2024, destacando un progreso significativo en su pipeline de medicina de precisión. La compañía terminó 2024 con 341.4 millones de dólares en efectivo y equivalentes, proporcionando recursos hasta 2027.

Los desarrollos clave incluyen tres IND aprobados por la FDA para las pequeñas moléculas de precisión de TYRA, con TYRA-300 avanzando a tres estudios de Fase 2: SURF302 para el cáncer de vejiga, BEACH301 para la acondroplasia pediátrica y SURF301 para el cáncer urotelial metastásico. Notablemente, SURF301 mostró resultados interinos prometedores, con el 54.5% de los pacientes logrando una respuesta parcial confirmada.

Los resultados financieros muestran una pérdida neta en el cuarto trimestre de 2024 de 25.6 millones de dólares en comparación con 22.8 millones de dólares en el cuarto trimestre de 2023. La pérdida neta del año completo 2024 fue de 86.5 millones de dólares. Los gastos de I+D aumentaron a 80.1 millones de dólares para 2024, frente a 62.5 millones de dólares en 2023.

Tyra Biosciences (NASDAQ: TYRA)는 2024년 4분기 및 전체 연도 재무 결과를 발표하며 정밀 의학 파이프라인에서의 중요한 발전을 강조했습니다. 이 회사는 2024년을 3억 4,140만 달러의 현금 및 현금성 자산으로 마감하며 2027년까지 운영 자금을 확보했습니다.

주요 개발 사항으로는 TYRA의 정밀 소분자에 대한 FDA 승인 IND 3건이 포함되며, TYRA-300은 방광암을 위한 SURF302, 소아 연골무형성증을 위한 BEACH301, 전이성 요로세포암을 위한 SURF301의 3개 2상 연구로 진행되고 있습니다. 특히, SURF301은 환자의 54.5%가 확인된 부분 반응을 달성하며 유망한 중간 결과를 보였습니다.

재무 결과에 따르면 2024년 4분기 순손실은 2,560만 달러로 2023년 4분기의 2,280만 달러와 비교됩니다. 2024년 전체 연도의 순손실은 8,650만 달러였습니다. 연구개발 비용은 2024년에 8,010만 달러로 증가했으며, 2023년의 6,250만 달러에서 상승했습니다.

Tyra Biosciences (NASDAQ: TYRA) a annoncé ses résultats financiers du quatrième trimestre et de l'année complète 2024, mettant en avant des progrès significatifs dans son pipeline de médecine de précision. L'entreprise a terminé 2024 avec 341,4 millions de dollars en liquidités et équivalents, offrant une marge de manœuvre jusqu'en 2027.

Les développements clés incluent trois IND approuvés par la FDA pour les petites molécules de précision de TYRA, avec TYRA-300 avançant vers trois études de Phase 2 : SURF302 pour le cancer de la vessie, BEACH301 pour l'achondroplasie pédiatrique et SURF301 pour le cancer urotélial métastatique. Notamment, SURF301 a montré des résultats intermédiaires prometteurs, avec 54,5 % des patients atteignant une réponse partielle confirmée.

Les résultats financiers montrent une perte nette de 25,6 millions de dollars au quatrième trimestre 2024 par rapport à 22,8 millions de dollars au quatrième trimestre 2023. La perte nette pour l'année complète 2024 s'élevait à 86,5 millions de dollars. Les dépenses de R&D ont augmenté à 80,1 millions de dollars pour 2024, contre 62,5 millions de dollars en 2023.

Tyra Biosciences (NASDAQ: TYRA) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und dabei signifikante Fortschritte in seiner Pipeline für präzisionsmedizinische Therapien hervorgehoben. Das Unternehmen schloss das Jahr 2024 mit 341,4 Millionen Dollar an Bargeld und Äquivalenten ab, was bis 2027 finanzielle Spielräume bietet.

Zu den wichtigsten Entwicklungen gehören drei von der FDA genehmigte INDs für TYRAs präzise kleine Moleküle, wobei TYRA-300 in drei Phase-2-Studien voranschreitet: SURF302 für Blasenkrebs, BEACH301 für pädiatrische Achondroplasie und SURF301 für metastasierenden Urothelkarzinom. Besonders hervorzuheben ist, dass SURF301 vielversprechende Zwischenresultate zeigte, mit 54,5 % der Patienten, die eine bestätigte partielle Reaktion erreichten.

Die finanziellen Ergebnisse zeigen einen Nettoverlust von 25,6 Millionen Dollar im vierten Quartal 2024 im Vergleich zu 22,8 Millionen Dollar im vierten Quartal 2023. Der Nettoverlust für das gesamte Jahr 2024 betrug 86,5 Millionen Dollar. Die F&E-Ausgaben stiegen auf 80,1 Millionen Dollar für 2024, gegenüber 62,5 Millionen Dollar im Jahr 2023.

Positive
  • Strong cash position of $341.4M providing runway through 2027
  • 54.5% partial response rate in TYRA-300 SURF301 trial for mUC
  • Three FDA-cleared INDs expanding clinical pipeline
  • Successful private placement raising $199.6M in Q1 2024
Negative
  • Increased net loss to $86.5M in 2024 from $69.1M in 2023
  • Higher R&D expenses at $80.1M, up from $62.5M year-over-year
  • G&A expenses increased to $24.1M from $17.4M in 2023

Insights

Tyra Biosciences' Q4/FY2024 results showcase substantial clinical momentum across their FGFR-targeted precision oncology pipeline alongside robust financial positioning. The company reported $341.4 million in cash, equivalents, and marketable securities (compared to $203.5 million at YE2023), providing runway through at least 2027 - a critical advantage for clinical-stage biotechs in the current funding environment.

The most significant value driver is TYRA-300, their FGFR3-selective inhibitor, which demonstrated compelling efficacy in the SURF301 trial with 54.5% confirmed partial response rate in heavily pre-treated metastatic urothelial cancer patients at doses ≥90mg QD, with 100% disease control rate. This agent is now advancing into three different Phase 2 studies (NMIBC, achondroplasia, and metastatic urothelial cancer), significantly expanding its potential commercial opportunity.

The three FDA IND clearances across their pipeline provide regulatory validation of their platform approach. While operating expenses increased ($80.1M R&D, $24.1M G&A) resulting in a $86.5M net loss for the year, this reflects appropriate investment in their advancing clinical programs rather than operational concerns. The company is executing a multi-indication strategy for TYRA-300 while simultaneously advancing TYRA-200 (FGFR1/2/3 inhibitor) and TYRA-430 (FGFR4/3-biased inhibitor), creating multiple shots on goal within their targeted therapeutic approach.

With several catalysts approaching in Q2 2025 (initial dosing across three clinical programs), Tyra is positioned to generate significant clinical data that could further validate their precision medicine platform.

Tyra's FGFR inhibitor platform is showing particularly encouraging clinical differentiation with TYRA-300. The 54.5% response rate (6/11 patients) reported in FGFR3+ metastatic urothelial cancer at ≥90mg QD doses compares favorably against existing FGFR inhibitors, where toxicity has typically therapeutic index. The reported favorable tolerability profile with infrequent FGFR2/FGFR1-associated adverse events suggests they've achieved meaningful receptor selectivity - a critical factor for this target class where on-target, off-tissue effects have historically dosing.

The expansion into non-muscle invasive bladder cancer (NMIBC) represents a significant opportunity, as these patients often face repeated TURBT procedures and BCG treatments with oral options. The SURF302 study's design targeting FGFR3-altered low-grade, intermediate-risk NMIBC with complete response at three months as the primary endpoint addresses a clear unmet need and could position TYRA-300 as a potential paradigm-shifting therapy in this indication.

Beyond oncology, the expansion into achondroplasia demonstrates broader biological understanding of FGFR pathway modulation. The dose-escalation strategy in BEACH301 starting at significantly lower doses than the oncology program (0.125-0.5 mg/kg vs 50-60mg fixed dosing) reflects appropriate therapeutic index considerations for a pediatric skeletal dysplasia population.

The company's rational expansion into HCC with TYRA-430 targeting FGF19+/FGFR4-driven cancers further validates their precision medicine approach, focusing on biomarker-selected populations where their selective inhibitors may demonstrate competitive advantages over less selective compounds.

- Three INDs cleared by US FDA for TYRA's proprietary precision small molecules -

- TYRA-300 to be evaluated in three Phase 2 studies: SURF302 for Intermediate Risk Non-Muscle Invasive Bladder Cancer (IR NMIBC), BEACH301 for pediatric achondroplasia (ACH) and SURF301 for metastatic urothelial cancer (mUC) -

- Cash, cash equivalents, and marketable securities of $341.4 million at YE 2024; runway through at least 2027 -

CARLSBAD, Calif., March 27, 2025 /PRNewswire/ -- 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 fourth quarter and full year ended December 31, 2024, and highlighted recent corporate progress.

"2024 was a momentous year for TYRA and the patient communities we serve, highlighted by the positive interim results from our SURF301 study, which demonstrated a combination of high anti-tumor activity with favorable tolerability results in very sick, heavily pre-treated cancer patients. Importantly, the oncology doses tested in SURF301 are significantly higher than those to be tested in BEACH301, giving us confidence as we advance TYRA-300 in ACH," said Todd Harris, CEO of TYRA. "Our conviction in TYRA-300 has never been stronger and we are working diligently to advance this potential best-in-class agent for multiple high-value indications in oncology and skeletal dysplasia into three Phase 2 studies in NMIBC, ACH and mUC."

Fourth Quarter and Full Year 2024 and Recent Corporate Highlights

TYRA-300

  • Advanced Clinical Evaluation of TYRA-300 into Three Phase 2 Studies. During 2024, TYRA progressed TYRA-300, an oral, investigational FGFR3-selective inhibitor, for the treatment of IR NMIBC, mUC and ACH, and achieved the following milestones:

    • Cleared Phase 2 NMIBC IND with US FDA – SURF302. TYRA expanded the clinical development of TYRA-300 into NMIBC to address the unmet needs in this cancer population for an efficacious, orally available therapy. SURF302 is an open-label Phase 2 clinical study evaluating the efficacy and safety of TYRA-300 in participants with FGFR3-altered low-grade, IR NMIBC. The study will enroll up to 90 participants at multiple sites primarily in the United States. Participants will be randomized initially to treatment with TYRA-300 at 50 mg once-daily (QD) (Cohort 1) or treatment with TYRA-300 at 60 mg QD (Cohort 2). Following a review of efficacy and safety, an additional dosing cohort may be evaluated. The primary endpoint is complete response (CR) rate at three months. Secondary endpoints include time to recurrence, the median duration of response, recurrence free survival (RFS), progression free survival (PFS), safety and tolerability.

    • Cleared Phase 2 ACH IND with US FDA - BEACH301. The study is a Phase 2, multicenter, open-label, dose-escalation/dose-expansion study evaluating TYRA-300 in children ages 3 to 10 with achondroplasia with open growth plates. The study will enroll children who are treatment-naïve (Cohort 1) and those who have received prior growth-accelerating therapy (Cohort 2) at multiple sites across the globe. Each of these cohorts is expected to enroll up to 10 participants per dose level (0.125, 0.25, 0.375, 0.50 mg/kg) for up to 12 months. The study will initially enroll a safety sentinel cohort of up to 3 treatment-naïve participants per dose level in children ages 5 to 10.

    • Reported Interim Clinical Proof-of-Concept Results in mUC Patients – SURF301. TYRA-300 demonstrated encouraging preliminary anti-tumor activity in a heavily pre-treated population: at ≥ 90 mg QD, 6 out of 11 (54.5%) patients with FGFR3+ mUC achieved a confirmed partial response (PR), with 100% disease control rate and sustained duration of activity; positive safety results were reported across all QD doses, with infrequent FGFR2/FGFR1-associated toxicities (data cutoff of August 15, 2024). TYRA-300 is being evaluated in Part B of SURF301 (NCT05544552) at potentially therapeutic QD doses in preparation for potential future Phase 2 studies.

TYRA-200

  • Advanced Phase 1 SURF201 Study. TYRA-200 is an FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations and resistance mutations. SURF201 (Study in PrevioUsly treated and Resistant FGFR2+ Cholangiocarcinoma and Other Advanced Solid Tumors) (NCT06160752) is a multi-center, open label study designed to evaluate the safety, tolerability, and pharmacokinetics of TYRA-200 and determine the optimal and maximum tolerated dose and recommended Phase 2 dose, as well as evaluate the preliminary antitumor activity of TYRA-200. The SURF201 study is currently enrolling and dosing adults with unresectable locally advanced/metastatic intrahepatic cholangiocarcinoma and other advanced solid tumors with activating FGFR2 gene alterations.

TYRA-430

  • Cleared Phase 1 IND with US FDA – SURF431. TYRA-430 is an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers. The Phase 1 study will be a multicenter, open-label, first-in-human study of TYRA-430 in advanced hepatocellular carcinoma (HCC) and other solid tumors with activating FGF/FGFR pathway aberrations (SURF431). We believe TYRA-430 has the potential to address a significant unmet need in HCC, where there are no approved biomarker-driven, targeted therapies.

Corporate

  • Strengthened Leadership Team and Board of Directors. In 2024, TYRA appointed Doug Warner, MD, as Chief Medical Officer, and Erik Goluboff, MD, as SVP, Clinical Development to lead the Company's oncology strategy and clinical development plans. In 2025, TYRA appointed accomplished drug developer Adele Gulfo to its Board of Directors, Sinette Heys as SVP, Clinical Operations to lead the Company's clinical operations team, and Will Charlton, MD, as SVP, Clinical Development to lead the Company's skeletal dysplasia clinical development group.

SNÅP Platform and Pipeline

  • TYRA continued to advance its in-house precision medicine discovery engine, SNÅP, to develop therapies in targeted oncology and genetically defined conditions.

Fourth Quarter and Full-Year 2024 Financial Results

  • Cash, Cash Equivalents and Short-Term Investments. As of December 31, 2024, TYRA had cash, cash equivalents, and marketable securities of $341.4 million, compared to $203.5 million at the end of 2023. The increase was primarily due to the completion of a private placement financing for net proceeds of $199.6 million in the first quarter of 2024. The Company's current cash, cash equivalents and marketable securities are expected to allow TYRA to execute on its plans through at least 2027.

  • Research and Development (R&D) Expenses. Research and development expenses for the three months ended December 31, 2024 were $22.2 million compared to $20.7 million for the same period in 2023, and $80.1 million for the full year 2024 compared to $62.5 million for the same period in 2023. The increases were primarily driven by increased expenses incurred in connection with our ongoing and planned clinical trials and personnel-related costs, including stock-based compensation, partially offset by decreased drug manufacturing and preclinical costs.

  • General and Administrative (G&A) Expenses. General and administrative expenses for the three months ended December 31, 2024 were $7.6 million compared to $5.0 million for the same period in 2023, and $24.1 million for the full year 2024 compared to $17.4 million for the same period in 2023. The increases were primarily driven by increased personnel-related costs, including stock-based compensation.

  • Net Loss. Fourth quarter 2024 net loss was $25.6 million compared to $22.8 million for the same period in 2023, and $86.5 million for the full year 2024 compared to $69.1 million for the same period in 2023.

Upcoming Anticipated Milestones and Events

  • BEACH301: dose first child with achondroplasia with TYRA-300 – Q2 2025
  • SURF302: dose first NMIBC patient with TYRA-300 – Q2 2025
  • SURF431: dose first HCC patient with TYRA-430 – Q2 2025

About TYRA-300

TYRA-300 is the Company's lead precision medicine program stemming from its in-house SNÅP platform. TYRA-300 is an investigational, oral, FGFR3-selective inhibitor currently in development for the treatment of cancer and skeletal dysplasia, including achondroplasia and hypochondroplasia. In oncology, TYRA-300 is being evaluated in mUC and IR NMIBC. In mUC, TYRA-300 is being evaluated in a multi-center, open label Phase 1/2 clinical study, SURF301 (Study in Untreated and Resistant FGFR3+ Advanced Solid Tumors) (NCT05544552). The study is designed to determine the optimal and the recommended Phase 2 dose of TYRA-300, as well as to evaluate the preliminary antitumor activity of TYRA-300. In October 2024, TYRA reported interim clinical proof-of-concept data in mUC from SURF301. TYRA has received IND clearance from the US FDA to proceed with its SURF302 clinical trial in patients with IR NMIBC. In skeletal dysplasia, TYRA-300 has demonstrated positive preclinical results in achondroplasia and hypochondroplasia, and its BEACH301 clinical trial in children with achondroplasia is now recruiting.

About TYRA-200

TYRA-200 is an oral, investigational, FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations and resistance mutations. The Phase 1 clinical study of TYRA-200, SURF201 (Study in PrevioUsly treated and Resistant FGFR2+ Cholangiocarcinoma and Other Advanced Solid Tumors) (NCT06160752), is a multi-center, open label study designed to evaluate the maximum tolerated dose (MTD) and the recommended Phase 2 dose of TYRA-200, as well as to evaluate the preliminary antitumor activity of TYRA-200. SURF201 is currently enrolling and dosing adults with advanced/metastatic intrahepatic cholangiocarcinoma and other advanced solid tumors with activating alterations in FGFR2.

About TYRA-430

TYRA-430 is an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers. The US FDA has cleared Tyra's IND to proceed with a Phase 1 clinical study of TYRA-430. The Phase 1 study will be a multicenter, open-label, first-in-human study of TYRA-430 in advanced HCC and other solid tumors with activating FGF/FGFR pathway aberrations (SURF431).

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. The Company's in-house precision medicine platform, 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. TYRA's expertise in FGFR biology has created a differentiated pipeline with three product candidates in clinical development in targeted oncology and genetically defined conditions. The Company's lead precision medicine stemming from SNÅP, TYRA-300, is a potential first-in-class selective FGFR3 inhibitor that is designed to avoid the toxicities associated with inhibition of FGFR1, FGFR2 and FGFR4, while being agnostic for the FGFR3 gatekeeper mutations. TYRA-300 is expected to be evaluated in three Phase 2 studies: SURF302 for IR NMIBC, BEACH301 for pediatric achondroplasia and SURF301 for metastatic urothelial cancer. TYRA is also developing TYRA-200, an oral, investigational, FGFR1/2/3 inhibitor, in the SURF201 study for metastatic intrahepatic cholangiocarcinoma, and TYRA-430, an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers. 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 develop next-generation precision medicines and their potential to be first-in-class and/or best-in-class; the potential safety and therapeutic benefits of, and market opportunities for, our product candidates; the expected trial design, timing and phase of development of our product candidates, including timing for patient dosing; the potential for SNÅP to develop therapies; 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: 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 TYRA-300; 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 TYRA-300 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; unfavorable results from preclinical studies; regulatory developments in the United States and foreign countries; our ability to obtain and maintain intellectual property protection for our product candidates and proprietary technologies; we may use our capital resources sooner than we expect; unstable market and economic conditions may adversely affect our business and financial condition and the broader economy and biotechnology industry; 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)




December 31,



December 31,




2024



2023









Assets







Current assets:







Cash and cash equivalents


$

91,966



$

58,006


Marketable securities



249,475




145,463


Prepaid expenses and other current assets



6,022




8,202


Total current assets



347,463




211,671


Restricted cash



1,000




1,000


Property and equipment, net



1,651




1,628


Right-of-use assets



6,068




6,526


Other long-term assets



7,376




5,032


Total assets


$

363,558



$

225,857


Liabilities and Stockholders' Equity







Current liabilities:







Accounts payable


$

590



$

4,662


Lease liabilities, current



412




280


Accrued expenses and other current liabilities



13,592




10,391


Total current liabilities



14,594




15,333


Lease liabilities, noncurrent



5,810




6,216


Other long-term liabilities



3




46


Total liabilities



20,407




21,595


Stockholders' equity:







Preferred stock







Common stock



5




4


Additional paid-in capital



593,687




368,707


Accumulated other comprehensive income



770




381


Accumulated deficit



(251,311)




(164,830)


Total stockholders' equity



343,151




204,262


Total liabilities and stockholders' equity


$

363,558



$

225,857


 

Tyra Biosciences, Inc. 

Statements of Operations and Comprehensive Loss 

(in thousands, except share and per share data)

(unaudited)




Three Months Ended December 31,



Year Ended December 31,




2024



2023



2024



2023















Operating expenses:













Research and development


$

22,180



$

20,677



$

80,077



$

62,518


General and administrative



7,564




4,957




24,100




17,427


Total operating expenses



29,744




25,634




104,177




79,945


Loss from operations



(29,744)




(25,634)




(104,177)




(79,945)


Other income:













Interest and other income, net



4,173




2,804




17,696




10,811


Total other income



4,173




2,804




17,696




10,811


Net loss



(25,571)




(22,830)




(86,481)




(69,134)


Unrealized gain (loss) on marketable

   securities available-for-sale, net



(982)




381




389




381


Comprehensive loss


$

(26,553)



$

(22,449)



$

(86,092)



$

(68,753)


Net loss per share, basic and diluted


$

(0.43)



$

(0.53)



$

(1.51)



$

(1.62)


Weighted-average shares used to compute

   net loss per share, basic and diluted



59,060,385




42,965,744




57,217,746




42,704,876


 

(PRNewsfoto/Tyra Biosciences, Inc.)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/tyra-biosciences-reports-fourth-quarter-and-full-year-2024-financial-results-and-highlights-302413623.html

SOURCE Tyra Biosciences

FAQ

What were the key clinical trial results for TYRA-300 in metastatic urothelial cancer?

In SURF301, TYRA-300 showed 54.5% confirmed partial response rate (6 out of 11 patients) at ≥90mg daily dose, with 100% disease control rate in FGFR3+ mUC patients.

How much cash does TYRA have and how long will it last?

TYRA reported $341.4 million in cash, cash equivalents, and marketable securities as of December 31, 2024, providing runway through at least 2027.

What are TYRA's upcoming milestones for Q2 2025?

TYRA plans to dose first patients in three clinical trials: BEACH301 (achondroplasia), SURF302 (NMIBC), and SURF431 (HCC) with their respective drug candidates.

How did TYRA's R&D expenses change in 2024 compared to 2023?

R&D expenses increased to $80.1 million in 2024 from $62.5 million in 2023, primarily due to ongoing clinical trials and personnel costs.
Tyra Biosciences, Inc.

NASDAQ:TYRA

TYRA Rankings

TYRA Latest News

TYRA Stock Data

462.94M
49.40M
4.64%
100.46%
8.06%
Biotechnology
Pharmaceutical Preparations
Link
United States
CARLSBAD