| Wednesday | ||||
Alan Fuhrman, CFO of… Alan Fuhrman, CFO of TYRA, added, "Tyra is in a very strong financial position to begin 2023, with $251.2 million in cash and cash equivalents at year-end 2022, representing more than two years of expected cash runway to support our current development plans across our precision medicine platform." | ||||
| Over a week ago | ||||
After BridgeBio (BBIO)… After BridgeBio (BBIO) announced positive data from cohort 5 of its PROPEL2 study evaluating infigratinib in children with achondroplasia, BofA said the firm thinks Bridgebio's data have a positive read-through to Tyra Biosciences' (TYRA) lead asset TYRA-300. In preclinical studies, TYRA-300 delivered better bone growth in murine models compared to infigratinib, noted the firm, which has a Buy rating and $23 price target on Tyra shares. | ||||
H.C. Wainwright raised… H.C. Wainwright raised the firm's price target on Tyra Biosciences to $17 from $15 and keeps a Buy rating on the shares. The analyst says BridgeBio's data mitigates risk of TYRA-300 clinical development in achondroplasia. The firm increased its probability of success for TYRA-300 in achondroplasia to 35% from 30%. | ||||
Oppenheimer keeps an… Oppenheimer keeps an Outperform rating on Tyra Biosciences (TYRA) after BridgeBio (BBIO) presented Phase 2 data in achondroplasia from its panFGFR inhibitor, infigratinib, one week after Tyra shared its developmental strategy for its own FGFR3-selective inhibitor, TYRA-300. BridgeBio's infigratinib data appear differentiated from the current standard of care with respect to efficacy, validating the case for a small molecule approach in achondroplasia, the analyst tells investors in a research note. However, the data also appear to "leave some efficacy on the table," with the company opting to cap dose escalation at the current dose, adds the firm. It thinks this limitation could be overcome with a more selective drug like Tyra's TYRA-300. | ||||
H.C. Wainwright analyst… H.C. Wainwright analyst Mitchell Kapoor raised the firm's price target on Tyra Biosciences to $15 from $12 and keeps a Buy rating on the shares after the company announced TYRA-300 will be developed in achondroplasia. | ||||
Oppenheimer analyst… Oppenheimer analyst Matthew Biegler raised the firm's price target on Tyra Biosciences to $25 from $17 and keeps an Outperform rating on the shares after the company hosted a call to discuss its decision to explore TYRA-300 in achondroplasia. Since most cases of achondroplasia are driven by an FGFR3 mutation, Tyra's move is a "smart expansion" into a potentially $1B-plus indication, the analyst tells investors in a research note. The firm believes safety will be paramount for effective drug development in this pediatric rare disorder. The company's decision to proceed was likely influenced by early safety data form TYRA-300's Phase 1 SURF301 trial in oncology, it writes. | ||||
Tyra Biosciences… Tyra Biosciences announced that it is expanding development of TYRA-300 into achondroplasia based on positive preclinical results demonstrated in a study performed in collaboration with the Imagine Institute in Paris, France. Achondroplasia, the most common form of dwarfism, is a skeletal dysplasia in which growth plate cartilage is affected, resulting in decreased growth of the long bones, vertebral bodies and skull base. These growth differences result in health complications such as cranial and spinal stenosis, hydrocephalus and sleep apnea. A specific mutation in FGFR3 causes over 97% of achondroplasia. TYRA-300, an investigational agent, is a once-daily oral FGFR3 selective inhibitor whose design may have a meaningful impact on achondroplasia and other skeletal dysplasias. In preclinical models, TYRA-300 demonstrated significant increases in growth and bone length. Phase 2 clinical study for pediatric achondroplasia planned to be initiated in 2024 | ||||
| Over a month ago | ||||
Oppenheimer analyst… Oppenheimer analyst Matthew Biegler initiated coverage of Tyra Biosciences with an Outperform rating and $17 price target. The firm expects TYRA-300 to yield better response rates than erdafitinib in metastatic urothelial carcionoma, or mUC, and calls the stock a "straightforward story that we believe is flying under investors' radar." | ||||
| Over a quarter ago | ||||
Tyra Biosciences… Tyra Biosciences initiated its SURF301 Phase 1/2 clinical study, with first patient dosed with TYRA-300. TYRA-300, the company's lead product candidate stemming from its SNAP platform, is an oral, FGFR3-selective inhibitor for the treatment of metastatic urothelial carcinoma of the bladder and urinary tract. The Phase 1/2 clinical study is designed to determine the optimal and maximum tolerated doses and the recommended Phase 2 dose of TYRA-300, as well as to evaluate the preliminary antitumor activity of TYRA-300. | ||||
"We are proud of the… "We are proud of the steady advancement of our next-generation precision oncology pipeline designed to address the limitations of current and emerging product candidates, as highlighted by data presentations at ESMO and the EORTC-NCI-AACR Symposium, which demonstrated the potency and selectivity of our lead FGFR programs, TYRA-300 and TYRA-200," said Todd Harris, CEO of TYRA. "Our team remains focused on enrolling and executing on our first clinical trial for TYRA-300, SURF301, submitting an IND for TYRA-200, and advancing our discovery pipeline of additional programs designed to overcome tumor resistance and improve outcomes for patients with cancer." | ||||
