Tyra Biosciences reports Q3 EPS (41c), consensus (40c)

The company’s current cash, cash equivalents and marketable securities of $360.1M are expected to allow TYRA to execute on its plans through at least 2026. “These are exciting times at TYRA. We are very pleased with the interim data reported with TYRA-300 at ENA 2024. TYRA-300 demonstrated impressive anti-tumor activity at dose levels greater than or equal to 90 mg once daily and was generally well-tolerated with infrequent FGFR1 and FGFR2 toxicities that limit the tolerability of pan-FGFR inhibitors. These data provide clinical support that an FGFR3 inhibitor designed to be highly selective can deliver meaningful clinical benefit to heavily pretreated patients with cancer,” said CEO Todd Harris. “These results allow us to expand into larger studies for multiple bladder cancer indications, including metastatic urothelial cancer and non-muscle invasive bladder cancer, while aiming to achieve best-in-class annualized growth velocity in achondroplasia. We look forward to initiating the Phase 2 study for ACH in the first quarter of 2025 and submitting an IND for NMIBC by the end of this year.”