Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage biopharmaceutical company developing small-molecule therapies targeting fibroblast growth factor receptor (FGFR) dysregulation. The company has generated no revenue as of December 31, 2025, and finances operations through equity offerings, debt financings, and potential future collaborations or licensing arrangements. Its lead program, oral dabogratinib, targets achondroplasia (ACH) and hypochondroplasia (HCH), rare skeletal dysplasias caused by FGFR3 mutations. In August 2025, the first child was dosed in BEACH301, a global Phase 2 clinical trial of oral dabogratinib in children ages 3 to 10 with ACH. The company holds orphan drug designations and is pursuing regulatory approvals in both the U.S. and EU. Tyra is headquartered in Carlsbad, California, where it leases approximately 13,065 square feet of laboratory and office space as of the 10-K filed March 2, 2026. The company expects its cash, cash equivalents, and marketable securities as of December 31, 2025 to fund operations through at least 2027.

Revenue model

No product revenue as of December 31, 2025. Operations are funded through equity offerings, debt financings, and potential future collaborations, licenses, and similar arrangements. Revenue from product sales is not expected unless and until regulatory approval is obtained for a product candidate.

Products and services

Lead product candidate: oral dabogratinib, a small-molecule FGFR3 inhibitor in Phase 2 clinical development (BEACH301 trial) for achondroplasia in children ages 3 to 10 and hypochondroplasia. Preclinical data show increases in body length and long bone length in FGFR3 mouse models at doses roughly equating to 0.5 mg/kg in children.

Customers and end markets

Target patient population: children with achondroplasia and hypochondroplasia, rare skeletal dysplasias. End markets include rare pediatric diseases with potential EU orphan medicinal product designation pathways. No commercial customers as of the filing date.

Value-chain role

Drug discovery and clinical development stage company. Relies on third-party contract manufacturers for production of product candidates. Does not have redundant supply or second-source manufacturing arrangements for all required raw materials as of the 10-K filed March 2, 2026.

Geographic exposure

Headquartered in Carlsbad, California. BEACH301 Phase 2 trial is described as a global, multi-center study. EU regulatory framework (orphan designation, pediatric investigation plans) is referenced, indicating planned international development activity.

Source: SEC 10-K, filed 2026-03-02

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