Tyra Biosciences Q3 net loss widens on higher R&D costs

Overview

• US biotechnology company's Q3 net loss widened yr/yr as R&D expenses increased

• Higher R&D costs driven by dabogratinib clinical trial activities

• Company completed $400 mln financing, expects cash runway through 2030

Outlook

• Company expects current cash resources to fund operations through 2030

• Tyra plans to initiate Phase 3 adjuvant study for IR NMIBC in 2027, pending regulatory feedback

• Company expects additional clinical results for LG-UTUC and ACH programs in 2027

Result Drivers

• CLINICAL TRIAL SPENDING - Higher R&D expenses mainly due to dabogratinib development activities in ongoing clinical trials

• HEADCOUNT AND FACILITIES - Increased personnel and facility costs contributed to higher operating expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Tyra Biosciences, Inc. is $50.00, about 124.2% above its November 9 closing price of $22.30

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)