Tyra Biosciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 02:46 am IST
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Tyra Biosciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 21.15 million compared to USD 12.51 million a year ago. Basic loss per share from continuing operations was USD 0.49 compared to USD 0.3 a year ago.
For the nine months, net loss was USD 46.3 million compared to USD 42.43 million a year ago. Basic loss per share from continuing operations was USD 1.09 compared to USD 1.02 a year ago.
Tyra Biosciences, Inc. is a clinical-stage biotechnology company. It is focused on developing precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology. Its in-house precision medicine platform, SNAP, enables rapid and precise drug design through iterative molecular SNAPshots that help predict genetic alterations to cause acquired resistance to existing therapies. Its initial focus is on applying its accelerated small molecule drug discovery engine to develop therapies in targeted oncology and genetically defined conditions. Its lead product candidate, TYRA-300, is an investigational, oral, FGFR3-selective inhibitor being evaluated in an international, multi-center, open label Phase 1 clinical study, SURF301. Its second oncology product candidate, TYRA-200, is an investigational, oral, FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations, and clinically important molecular brake and gatekeeper resistance mutations.