Quarterly ResultMay 13, 2026, 08:07 AM
Tyra Biosciences Q1 Net Loss $39.3M; Dabogratinib Trials Advance
AI Summary
Tyra Biosciences reported its first quarter 2026 financial results, highlighting significant progress in its "dabogratinib 3x3" clinical strategy. The company announced a strong cash position of $383.5 million, providing a runway into the second half of 2028, bolstered by $147.9 million in net proceeds from an ATM offering. While net loss increased to $39.3 million, the company advanced its clinical trials, including dosing the first patient in the potentially registrational SURF303 study for LG-UTUC and anticipating multiple data readouts later this year for SURF302 and BEACH301.
Key Highlights
- Cash, cash equivalents, and marketable securities totaled $383.5 million as of March 31, 2026.
- Cash runway is expected to extend into the second half of 2028.
- Net proceeds of $147.9 million were received from the at-the-market (ATM) offering program.
- Research and Development (R&D) expenses increased to $33.5 million in Q1 2026 from $25.0 million in Q1 2025.
- General and Administrative (G&A) expenses rose to $8.5 million in Q1 2026 from $6.9 million in Q1 2025.
- Net loss for Q1 2026 was $39.3 million, compared to $28.1 million for Q1 2025.
- First patient dosed in SURF303 (LG-UTUC) study, with initial results expected in 2027.
- Initial Ph2 data from SURF302 (IR NMIBC) expected in August 2026 (n>20 enrolled).
- Initial Ph2 data from BEACH301 (ACH) safety sentinel cohort expected in Q4 2026 (4th dose level cleared).