Tyra Biosciences Raises $400 Million in Underwritten Offering

CARLSBAD, Calif., Sept. 14, 2026 /CourierPR/ -- Tyra Biosciences, Inc., a clinical-stage biotechnology company focused on developing precision medicines targeting FGFR biology, has announced the successful pricing of a $400 million underwritten offering of common stock and pre-funded warrants. The company sold 9,079,000 shares of its common stock at a price of $22.03 per share, and in lieu of shares, it issued pre-funded warrants to purchase 9,078,529 shares of common stock at a purchase price of $22.029 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions, are expected to be approximately $400 million.

The funds raised will be used to advance the company's "dabogratinib 3x3" development strategy in low-grade upper tract urothelial carcinoma (LG-UTUC), intermediate-risk non-muscle invasive bladder cancer (IR NMIBC), and achondroplasia (ACH). Additionally, the proceeds will support Tyra's preclinical and drug discovery programs, working capital, and other general corporate purposes. The offering was led by RA Capital Management, with participation from new and existing institutional investors, including Invus, Commodore Capital, BVF Partners, Janus Henderson Investors, Trails Edge Capital Partners, Integral Health Asset Management, TCGX, StemPoint Capital LP, and multiple large investment management firms.

Jefferies, Guggenheim Securities, Cantor, Barclays, and William Blair are acting as joint book-running managers for the offering, while Wedbush PacGrow, Raymond James, and Oppenheimer & Co. are acting as lead managers. The shares of common stock and pre-funded warrants are being offered pursuant to a shelf registration statement on Form S-3, which became automatically effective on September 14, 2026.

Tyra Biosciences, Inc., headquartered in Carlsbad, California, is dedicated to developing next-generation precision medicines targeting large opportunities in FGFR biology. The company's in-house precision medicine platform, SNÅP, enables rapid and precise drug design through iterative molecular SNÅPshots, which help predict the highest potency, selectivity, and tolerability in the clinic. The company's lead precision candidate, oral dabogratinib, is a potential first-in-class selective FGFR3 inhibitor in development for LG UTUC, IR NMIBC, and ACH. Tyra is also developing TYRA-430, an oral, investigational FGFR4/3-biased inhibitor for FGF19+/FGFR4-driven cancers, and TYRA-200, an oral, investigational FGFR1/2/3 inhibitor, for metastatic intrahepatic cholangiocarcinoma.

The company intends to use the net proceeds from the offering, together with its existing cash, cash equivalents, and marketable securities, to advance its clinical-stage programs and support its preclinical and drug discovery efforts. Tyra cautions that actual results may differ from those set forth in the press release due to the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering.