Loading...
•
Jun 30, 2022
Tyra Biosciences Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022 and highlighted recent corporate progress.
Key Takeaways
Tyra Biosciences reported a net loss of $15.1 million for the second quarter of 2022. The FDA cleared the company to proceed with its SURF301 study of TYRA-300, and the IND for TYRA-200 is on track to be filed in the second half of 2022. The company had cash and cash equivalents of $275.1 million as of Q2 2022.
Received IND clearance from FDA to proceed with SURF301 Study of TYRA-300.
Pipeline on track; IND for TYRA-200 to be filed in 2H 2022.
The U.S. Food and Drug Administration (FDA) cleared TYRA to proceed with its Phase 1/2 SURF301 clinical study of TYRA-300.
Strengthened Leadership Team with Key Hires.
Tyra Biosciences
Tyra Biosciences
Forward Guidance
Statements contained in this press release regarding matters that are not historical facts are forward-looking statements.
Positive Outlook
- Potential to develop purpose-built therapies that improve clinical outcomes
- Expected IND submission timing for TYRA-200.
- Ability to maintain undisrupted business operations due to the COVID-19 pandemic
- Ability to obtain and maintain intellectual property protection for our product candidates and proprietary technologies
- Developing a pipeline of selective inhibitors of Fibroblast Growth Factor Receptors (FGFR)
Challenges Ahead
- Early in development efforts, have not tested any of product candidates in clinical trials
- Approach to discover and develop drugs based on SNÅP platform is novel and unproven
- Potential delays in the commencement, enrollment, and completion of preclinical studies and clinical trials
- Dependence on third parties in connection with manufacturing, research and preclinical testing
- Unexpected adverse side effects or inadequate efficacy of product candidates that may limit their development, regulatory approval, and/or commercialization