Tyra Biosciences, Inc. (TYRA) SEC Filings & Earnings Calls

Dilution from equity offering may pressure existing shareholders.

“Issuance of new shares and pre-funded warrants.”

Clinical trial failure pressure if Phase 3 fails

“Data are initial and subject to change; Phase 3 not yet initiated.”

Clinical-stage biotech with no approved products; pipeline risk and dependence on clinical trial outcomes.

“Clinical-stage biotechnology company focused on developing next-generation precision medicines” · word for word

Amended ATM sales agreement allows for potential dilution of up to $250M in shares.

“TYRA may sell an additional $250.0 million of shares of its common stock from time to time in at-the-market offerings.” · word for word

No approved products; pre-revenue stage

“We have never generated any revenue and do not expect to generate any revenue from product sales unless and until we successfully complete the development of and obtain regulatory approval for our product candidates, which will not be for several years, if ever.” · word for word

Need for additional capital; potential dilution

“Until such time, if ever, as we can generate substantial product revenues to support our cost structure, we expect to finance our cash needs through equity offerings, debt financings or other capital sources, including potential collaborations, licenses and other similar arrangements.” · word for word

Clinical trial failure risk

“The actual probability of success for our product candidates or any future candidates may be affected by a variety of factors. We may never succeed in achieving regulatory approval for any of our product candidates or any future candidates.” · word for word

No approved products; no revenue

“We have not generated any revenue to date” · word for word

Significant operating losses and accumulated deficit

“Our net losses for the three months ended March 31, 2026 and 2025 were $39.3 million and $28.1 million, respectively.” · word for word

Dependence on future financing

“we may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all.” · word for word

Clinical trial failure risk

“The process of conducting the necessary preclinical and clinical research to obtain regulatory approval is costly and time-consuming.” · word for word

No revenue; pre-commercial stage; net loss widening; accumulated deficit growing.

“Net loss $39.3M vs $28.1M YoY; accumulated deficit $410.6M.”

Clinical trial risk: dabogratinib may fail to meet endpoints in SURF302, SURF303, or BEACH301.

“Phase 2 data readouts expected in 2026 and 2027; no approved products.”

Dilution from ATM offering: 147.9M net proceeds implies significant share issuance.

“Received $147.9M in net proceeds from ATM; weighted-average shares 61.7M vs 59.3M YoY.”

Dilution for existing shareholders.

“Issuance of 4,000,000 shares of common stock.”

Clinical-stage company with no approved products; net losses expected to continue.

“Net loss was $119.9 million for the full year 2025; no revenue from product sales.”

Clinical trial failure risk

“We are a clinical-stage biotechnology company ... Our business is dependent on the success of our product candidates” · word for word

Competition from larger companies

“Many of our competitors, either alone or with their collaborators, have significantly greater financial resources, established presence in the market, expertise in manufacturing, research and development” · word for word

Capital needs and dilution risk

“We have incurred significant losses since inception and anticipate that we will continue to incur losses for the foreseeable future.”

Regulatory approval uncertainty

“The FDA or other foreign regulatory agencies may not approve our product candidates for commercial use”

Key person dependency on new COO; integration risk from external hire

“New COO from outside company; prior COO moved to discovery role”

Clinical trial failure risk for dabogratinib and other pipeline assets

“All programs are in Phase 1 or Phase 2; no approved products.”

Cash burn rate may require future financing

“Net loss of $29.9M in Q3; cash runway through at least 2027 but no revenue.”

Pre-revenue clinical-stage company with no approved products

“We have never generated any revenue and do not expect to generate any revenue from product sales unless and until we successfully complete the development of and obtain regulatory approval for our product candidates, which will not be for several years, if ever.” · word for word

Dependence on future capital raises

“Until such time, if ever, as we can generate substantial product revenues to support our cost structure, we expect to finance our cash needs through equity offerings, debt financings or other capital sources.” · word for word

Clinical trial risk

“The actual probability of success for our product candidates or any future candidates may be affected by a variety of factors. We may never succeed in achieving regulatory approval for any of our product candidates or any future candidates.” · word for word