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Jun 30, 2023
Tyra Biosciences Q2 2023 Earnings Report
Reported financial results for the second quarter of 2023 and highlighted recent corporate progress.
Key Takeaways
Tyra Biosciences reported a net loss of $13.3 million for the second quarter of 2023 and had cash and cash equivalents of $232.4 million as of June 30, 2023. The company is advancing its pipeline, including TYRA-300 and TYRA-200, and received Orphan Drug Designation for TYRA-300 in achondroplasia.
Granted Orphan Drug Designation from U.S. FDA for Achondroplasia for TYRA-300.
SURF301 Phase 1/2 oncology study remains on target with ongoing enrollment in Part B.
TYRA-200 Phase 1 study on track with first patient expected to be dosed in 2H 2023.
Held a strong cash position of $232.4 million as of Q2 2023.
Tyra Biosciences
Tyra Biosciences
Forward Guidance
TYRA cautions that statements contained in the press release regarding matters that are not historical facts are forward-looking statements and are based on current beliefs and expectations.
Positive Outlook
- Potential to develop next-generation precision medicines
- Potential safety and therapeutic benefits of TYRA-300 and other product candidates
- Potential for TYRA-300 to become a best-in-class agent
- Expected timing and phase of clinical development of TYRA-300 and TYRA-200
- Potential for SNÅP to develop therapies in targeted oncology and genetically defined conditions
Challenges Ahead
- Early in development efforts, approach to drug discovery is novel and unproven.
- Potential delays in commencement, enrollment, and completion of preclinical studies and clinical trials
- Results from preclinical studies or early clinical trials not necessarily being predictive of future results
- Dependence on third parties in connection with manufacturing, research and preclinical testing
- Unexpected adverse side effects or inadequate efficacy of product candidates