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Tyra Biosciences Reports Third Quarter 2025 Financial Results

Tyra Biosciences, Inc., a leading clinical-stage biotechnology firm, recently disclosed its financial outcomes for the third quarter ended September 30, 2025. The company, known for its focus on precision medicines targeting Fibroblast Growth Factor Receptor (FGFR) biology, reported significant advancements in both financial metrics and clinical trial milestones.

Clinical Highlights

One of the standout developments is the dosing of the first patients with the investigational drug dabogratinib in their Phase 2 studies, BEACH301 and SURF302. Interim results from these trials are anticipated in 2026, providing hope for patients suffering from skeletal dysplasia and bladder cancer. Dr. Todd Harris, CEO of Tyra Biosciences, emphasized the company's commitment to patients requiring accurate and effective treatment options, noting the engagement from both the clinical and patient communities.

Dabogratinib: A Next-Generation Treatment

Dabogratinib, previously known as TYRA-300, is positioned as a promising oral FGFR3-selective inhibitor, targeting conditions such as pediatric achondroplasia, low-grade intermediate risk non-muscle invasive bladder cancer (IR NMIBC), and low-grade upper tract urothelial carcinoma (LG-UTUC). This innovative treatment has already shown encouraging anti-tumor activity in early studies and was well-tolerated among participants. The ongoing Phase 2 study for achondroplasia is particularly noteworthy, as it is focused on children aged 3 to 10 with open growth plates, looking to demonstrate safety and efficacy effectively.

In addition to the aforementioned studies, Tyra is expanding the development of dabogratinib into patients with LG-UTUC, a scenario where FGFR3 alterations are prevalent in approximately 85% of cases. This strategic decision underscores their focus on addressing critical unmet medical needs.

Financial Performance

Regarding its financial results, Tyra Biosciences reported cash and cash equivalents totaling $274.9 million at the end of Q3 2025. This financial cushion is expected to support the company's operational initiatives through at least 2027. The R&D expenses for this quarter totaled $25.5 million, a slight increase from $22.7 million in the previous year, reflecting ongoing investments in clinical trials.

The company's general and administrative costs also rose from $5.9 million to $7.5 million over the same period, attributed primarily to increased personnel expenses. Despite the rise in expenses, the company posted a net loss of $29.9 million compared to $24.0 million in Q3 2024.

Future Expectations

Looking ahead, Tyra Biosciences has articulated several key milestones for 2026, including the initial results from the BEACH301 safety sentinel cohort expected in the second half of the year and initial data from SURF302 in the first half of 2026. The company aims to initiate the Phase 2 study for LG-UTUC (SURF303) in 2026 as well, adding further momentum to their clinical pipeline.

Conclusion

With its continued focus on tackling critical health challenges through innovative therapies like dabogratinib, Tyra Biosciences positions itself as a formidable player in the biotech landscape. The financial backing, alongside strong clinical engagement, sets a promising stage for upcoming developments and outcomes in 2026. As the company navigates through these trials, stakeholders will undoubtedly watch closely to see how these initiatives evolve in the near future.