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Dec 31, 2021
Tyra Biosciences Q4 2021 Earnings Report
Tyra Biosciences reported financial results for the fourth quarter and full year 2021, highlighting pipeline progress and a strengthened organization.
Key Takeaways
Tyra Biosciences reported a net loss of $9.9 million for the fourth quarter of 2021, compared to a net loss of $3.7 million for 2020. The company's research and development expenses were $7.2 million for the quarter, and they ended the year with $302.2 million in cash and cash equivalents.
Advanced TYRA-300 (FGFR3 inhibitor) and TYRA-200 (FGFR2 inhibitor) with IND submissions on track for mid-2022 and second half of 2022, respectively.
Strengthened the clinical team with the appointment of Allison Kemner as Vice President, Clinical Sciences and Operations.
Tyra Biosciences was added to the Russell 2000 Index on December 20, 2021.
Ended the year with $302.2 million in cash and cash equivalents.
Tyra Biosciences
Tyra Biosciences
Forward Guidance
Tyra Biosciences is focused on developing purpose-built therapies to overcome tumor resistance and improve outcomes for patients with cancer. They expect to submit Investigational New Drug Applications (INDs) to the U.S. Food and Drug Administration (FDA) this year for TYRA-300 and TYRA-200.
Positive Outlook
- Potential to develop next-generation targeted therapies that improve clinical outcomes.
- Expected IND timing for TYRA-300 and TYRA-200.
- Progress and planned advancement of our development pipeline.
- Expanding the nomination of clinical candidates from our FGFR3-related skeletal dysplasia, RET and FGFR4 programs.
Challenges Ahead
- Early in development efforts, have not tested any of our product candidates in clinical trials.
- The approach we are taking to discover and develop drugs based on our 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 our product candidates that may limit their development, regulatory approval, and/or commercialization.