Tyra Biosciences Reports Q2 Earnings with $296.3 Million in Cash Reserves

Tyra Biosciences reported a Q2 net loss of $28.1 million, up from $18.7 million in the same period of 2024, driven by higher R&D expenses. The company has $296.3 million in cash, cash equivalents, and marketable securities, expected to support operations through at least 2027. Tyra is advancing its lead candidate, dabogratinib, in multiple clinical studies targeting FGFR3-driven conditions, with anticipated data readouts in 2026.

Tyra Biosciences, Inc. (Nasdaq: TYRA), a clinical-stage biotechnology company focused on developing next-generation precision medicines targeting large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology, reported its second-quarter 2025 financial results on August 14, 2025. The company reported a net loss of $28.1 million, up from $18.7 million in the same period of 2024, driven by higher research and development (R&D) expenses. Despite the increased losses, Tyra Biosciences maintained a strong balance sheet with cash, cash equivalents, and marketable securities totaling $296.3 million as of June 30, 2025, providing sufficient runway to support operations through at least 2027.

The company's R&D expenses for the three months ended June 30, 2025, were $24.3 million, compared to $18.0 million for the same period in 2024. The increase was primarily due to start-up and enrollment activities for ongoing clinical trials, as well as increased costs of current manufacturing (CMC) and personnel-related expenses, including non-cash stock-based compensation. General and administrative (G&A) expenses also increased to $7.1 million from $5.5 million in the same period last year, primarily due to higher personnel-related costs.

Tyra Biosciences is advancing its lead candidate, dabogratinib, in multiple clinical studies targeting FGFR3-driven conditions. Dabogratinib is an oral, investigational FGFR3-selective inhibitor currently in development for the treatment of cancer and skeletal dysplasia. The company dosed the first patient in its Phase 2 non-muscle invasive bladder cancer (NMIBC) study, SURF302, in the second quarter of 2025. This study is evaluating the efficacy and safety of dabogratinib in participants with FGFR3-altered low-grade, intermediate-risk NMIBC. The company also continues to enroll participants in its Phase 2 achondroplasia study, BEACH301, and its Phase 1/2 mUC study, SURF301.

In addition to dabogratinib, Tyra Biosciences is developing TYRA-430, an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers, in the SURF431 study for advanced hepatocellular carcinoma (HCC) and other solid tumors with activating FGF/FGFR pathway aberrations. The company is also developing TYRA-200, an oral, investigational, FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations and resistance mutations, in the SURF201 study for metastatic intrahepatic cholangiocarcinoma and other advanced solid tumors with activating alterations in FGFR2.

The company's in-house precision medicine discovery engine, SNÅP, continues to advance, enabling rapid and precise drug design through iterative molecular SNÅPshots. Tyra Biosciences expects to deliver meaningful Phase 2 readouts in SURF302 and BEACH301 in the coming months.

References:
[1] https://ir.tyra.bio/news-releases/news-release-details/tyra-biosciences-reports-second-quarter-2025-financial-results