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Dec 31, 2022
Tyra Biosciences Q4 2022 Earnings Report
Reported financial results for the quarter and year ended December 31, 2022, and highlighted recent corporate progress.
Key Takeaways
Tyra Biosciences reported a net loss of $12.9 million for the fourth quarter of 2022. The company's cash and cash equivalents stood at $251.2 million as of year-end 2022.
Patient dosing with TYRA-300 was initiated in the SURF301 oncology study.
The pipeline was expanded beyond oncology into genetically defined conditions with TYRA-300 for achondroplasia.
The IND for the TYRA-200 Phase 1 study was cleared, with the first patient dosing expected in the second half of 2023.
The company is well-capitalized with cash and cash equivalents of $251.2 million as of year-end 2022.
Tyra Biosciences
Tyra Biosciences
Forward Guidance
Tyra Biosciences is focused on developing next-generation precision medicines that target large opportunities in FGFR biology. The Company's in-house precision medicine platform, SNÅP, enables rapid and precise drug design through iterative molecular SNÅPshots that help predict genetic alterations most likely to cause acquired resistance to existing therapies. TYRA's initial focus is on applying its accelerated small molecule drug discovery engine to develop therapies in targeted oncology and genetically defined conditions.
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.
- Expectation to nominate clinical candidates from our FGF19+/FGFR4 and RET programs.
- Sufficient cash position.
Challenges Ahead
- Early in development efforts.
- Approach 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.
- 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.