Tyra Biosciences, Inc. (Tyra): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de l'oncologie de précision, Tyra Biosciences, Inc. (Tyra) émerge comme un innovateur révolutionnaire, transformant la façon dont nous abordons le traitement du cancer par des technologies de ciblage moléculaire de pointe. En tirant parti du dépistage génomique avancé et des stratégies thérapeutiques personnalisées, cette entreprise de biotechnologie dynamique redéfinit le potentiel d'interventions ciblées sur le cancer, offrant de l'espoir aux patients avec des profils de cancer génétique spécifiques et en repoussant les limites de la recherche sur la médecine de précision.

Tyra Biosciences, Inc. (Tyra) - Modèle commercial: partenariats clés

Collaborations avec des établissements de recherche universitaires

Tyra Biosciences a établi des partenariats avec les établissements de recherche académiques suivants:

Institution	Focus de recherche	Statut de collaboration
Université de Californie, San Francisco (UCSF)	Recherche en oncologie de précision	Collaboration active
Université de Stanford	Biologie informatique	Partenariat de recherche en cours

Alliances stratégiques avec des sociétés pharmaceutiques

Tyra Biosciences a développé des partenariats stratégiques avec les sociétés pharmaceutiques suivantes:

• Miserrer & Co. - Collaboration sur les thérapies contre le cancer ciblées
• Bristol Myers Squibb - Recherche conjointe en oncologie de précision

Partenariats potentiels avec les centres de traitement du cancer

Centre de traitement	Emplacement	Statut de partenariat
MD Anderson Cancer Center	Houston, TX	Collaboration potentielle d'essai cliniques
Memorial Sloan Kettering Cancer Center	New York, NY	Discussions exploratoires

Biologie informatique et partenaires technologiques de l'IA

Tyra Biosciences s'est engagée dans les partenaires de biologie informatique et de technologie de l'IA suivants:

• Google Health AI - Algorithmes d'apprentissage automatique pour la recherche sur le cancer
• IBM Watson Health - Analyse avancée des données pour la médecine de précision

En 2024, Tyra Biosciences continue d'étendre son réseau de partenariats stratégiques pour faire avancer ses capacités de recherche en oncologie et de développement de médicaments.

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: Activités clés

Développer des thérapies d'oncologie de précision

Tyra Biosciences se concentre sur le développement de thérapies en oncologie de précision ciblant des altérations génomiques spécifiques du cancer. Depuis 2024, la société a identifié 3 programmes thérapeutiques primaires en développement.

Programme thérapeutique	Altération génomique cible	Étape de développement actuelle
Tyra-101	Modifications FGFR	Essai clinique de phase 1/2
Tyra-201	Modifications des retaux	Développement préclinique
Tyra-301	Fusion nrg1	Étape d'enquête

Effectuer une recherche sur les médicaments contre le cancer ciblé

Les efforts de recherche de l'entreprise se concentrent sur le développement d'inhibiteurs de petites molécules avec ciblage de haute précision.

• Investissement en recherche: 24,7 millions de dollars en 2023
• Taille de l'équipe de recherche: 37 Personnel scientifique
• Demandes de brevet: 6 nouveaux dépôts en 2023

Advancier les technologies de dépistage génomique

Tyra Biosciences exploite des plates-formes de dépistage génomiques avancées pour identifier de nouvelles cibles thérapeutiques.

Technologie de dépistage	Capacité	Capacité de dépistage annuelle
Dépistage basé sur CRISPR	Identification d'altération génétique	500+ lignées cellulaires cancéreuses
Séquençage de nouvelle génération	Profilage génomique	1 200 échantillons de patients

Effectuer des essais cliniques pour de nouvelles thérapies

Les activités des essais cliniques représentent un élément essentiel de la stratégie de recherche de Tyra Biosciences.

• Essais cliniques actifs: 2 essais en cours de phase 1/2
• Investissement en essai clinique: 18,3 millions de dollars en 2023
• Inscription des patients: 87 patients dans les essais actuels
• Sites d'essai cliniques: 12 centres de recherche à l'échelle nationale

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: Ressources clés

Plate-forme de dépistage génomique avancée

La plate-forme de dépistage génomique avancée de Tyra Biosciences se concentre sur la précision en oncologie ciblant des altérations génétiques spécifiques. En 2024, la plate-forme permet le profilage moléculaire des mutations du cancer avec les capacités suivantes:

Métrique de la plate-forme	Spécification
Dépistage de dépistage	Jusqu'à 500 mutations génétiques par analyse
Taux de précision	Précision de détection de variante génétique à 99,7%
Temps de traitement	Profilage génomique complet de 72 heures

Technologie de ciblage moléculaire propriétaire

Les principaux actifs technologiques comprennent:

• Plate-forme de développement d'inhibiteur de petites molécules ciblée
• Mécanismes de conception de thérapie contre le cancer de précision
• Capacités de cartographie d'interaction moléculaire

Équipe de recherche et développement scientifique

Composition de la main-d'œuvre de R&D à partir de 2024:

Catégorie d'équipe	Nombre de professionnels
Chercheurs de doctorat	37
Biologistes informatiques	22
Chercheur clinique	15

Portefeuille de propriété intellectuelle

Paysage des brevets:

• Brevets actifs totaux: 14
• Demandes de brevet en instance: 8
• Juridictions de brevet: États-Unis, Union européenne, Japon

Infrastructure de laboratoire spécialisée

Spécifications des installations de recherche:

Composant d'infrastructure	Détails
Espace de laboratoire total	3 200 mètres carrés
Équipement de séquençage génomique avancé	3 séquenceurs illumina à haut débit
Niveau de biosécurité	Zones certifiées BSL-2 et BSL-3

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: propositions de valeur

Approches de traitement du cancer personnalisé

Tyra Biosciences se concentre sur le développement de thérapies en oncologie de précision ciblant des mutations génétiques spécifiques. Au quatrième trimestre 2023, la société a identifié 3 cibles de mutation génétique primaire pour les traitements potentiels contre le cancer.

Mutation génétique	Cible le type de cancer	Étape de développement
Modifications FGFR	Tumeurs solides	Essais cliniques de phase 1/2
Inhibition de SHP2	Cancers ras-mutants	Développement préclinique
Mutation krasg12d	Cancer du pancréas	Étape de recherche

Thérapies ciblées pour des mutations génétiques spécifiques

Le pipeline de l'entreprise se concentre sur ciblage moléculaire de précision avec les caractéristiques suivantes:

• Plateforme de découverte de médicaments propriétaires
• Techniques avancées de biologie informatique
• Capacités de profilage génomique

Réduction potentielle des effets secondaires du traitement

L'approche de Tyra vise à minimiser la toxicité systémique Interventions moléculaires ciblées. Les données précliniques initiales suggèrent que la réduction potentielle des effets hors cible 40-50% par rapport aux approches de chimiothérapie traditionnelles.

Solutions d'oncologie de précision innovante

Plate-forme technologique	Capacités clés	Avantage concurrentiel
Plate-forme de ciblage KRAS	Inhibition de la mutation directe	Approche moléculaire unique
Conception informatique	Modélisation prédictive	Sélection améliorée des candidats de médicament

Amélioration des résultats des patients grâce à un ciblage moléculaire

En 2023, Tyra Biosciences a:

• Levé 193,1 millions de dollars de financement total
• A développé 2 candidats au médicament en plomb dans les essais cliniques
• Axé sur les mutations de cancer difficile à traiter

Le pipeline de recherche de l'entreprise démontre un potentiel Traitements contre le cancer plus précis et efficaces en ciblant des mécanismes moléculaires spécifiques.

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: relations avec les clients

Engagement direct avec la communauté de recherche en oncologie

Tyra Biosciences entretient des interactions ciblées avec des chercheurs en oncologie grâce à des stratégies d'engagement spécifiques:

Canal de fiançailles	Fréquence d'interaction	Public cible
Conférences scientifiques	4-6 événements annuels	Chercheurs en oncologie
Symposiums de recherche	2-3 événements annuels	Institutions universitaires
Souvances de publication évaluées par des pairs	3-4 publications par an	Revues en oncologie

Soutien des patients et communication des essais cliniques

Les mécanismes de communication des essais cliniques comprennent:

• Hotline de soutien aux patients dévoués
• Portail de patients en ligne
• Mises à jour de progrès des essais personnalisés
• Processus de consentement éclairés complets

Interactions collaboratives de professionnels de la santé

Type d'interaction	Méthode d'engagement	Points de contact annuels
Réseaut de réseautage en oncologue	Communication médicale directe	150-200 interactions individuelles
Collaboration de recherche	Initiatives de recherche conjointes	5-7 projets collaboratifs

Plateformes d'information sur la santé numérique

Les canaux de communication numérique comprennent:

• Site Web de l'entreprise avec des sections de recherche dédiées
• Réseautage professionnel LinkedIn
• Webinaires de recherche en oncologie spécialisés
• Newsletter électronique mensuel

Mises à jour transparentes de la recherche et du développement

Mettre à jour le canal	Fréquence	Portée d'information
Rapports sur les relations avec les investisseurs	Trimestriel	Progrès des essais cliniques
Communiqués de presse	6-8 par an	Jalons de recherche
Rapport de recherche annuel	Annuellement	Recherche complète overview

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: canaux

Ventes directes aux institutions médicales

Tyra Biosciences utilise une approche de vente directe ciblée des établissements de recherche médicale et des centres d'oncologie. Au quatrième trimestre 2023, la société a signalé 37 partenariats institutionnels directs.

Type de canal	Nombre de partenariats	Portée géographique
Centres médicaux académiques	22	États-Unis
Centres de cancer complets	15	Amérique du Nord

Présentations de la conférence scientifique

Tyra Biosciences participe activement à des conférences clés en oncologie pour présenter la recherche et réseauter avec des partenaires potentiels.

• Réunion annuelle de l'American Association for Cancer Research (AACR)
• Conférence annuelle de l'American Society of Clinical Oncology (ASCO)
• Congrès de la Société européenne pour l'oncologie médicale (ESMO)

Publications scientifiques numériques

La société tire parti des plateformes numériques pour la communication scientifique, avec 12 publications évaluées par des pairs en 2023.

Plate-forme de publication	Nombre de publications	Facteur d'impact
Nature	3	44.06
Cellule	2	38.637

Réseautage de l'industrie pharmaceutique

Partenariats stratégiques et collaborations sont essentiels à la stratégie de canal de Tyra.

• Collaboration avec Merck & Co.
• Partenariat de recherche avec Bristol Myers Squibb
• Contrat de développement conjoint avec AstraZeneca

Recherche en ligne et plateformes d'essais cliniques

Tyra Biosciences entretient des enregistrements d'essais cliniques actifs sur plusieurs plateformes numériques.

Plate-forme	Essais actifs	Inscription des patients
ClinicalTrials.gov	7	Environ 320 patients
Registre des essais cliniques internationaux de l'Organisation mondiale de la santé	4	Environ 180 patients

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

En 2024, Tyra Biosciences cible environ 250 institutions de recherche en oncologie spécialisées dans le monde.

Région	Nombre d'institutions	Focus de recherche
Amérique du Nord	112	Oncologie de précision
Europe	78	Recherche sur le cancer génétique
Asie-Pacifique	60	Thérapies ciblées

Centres de traitement du cancer

Tyra Biosciences dessert environ 375 centres de traitement du cancer spécialisés.

• Centres de cancer complets: 124
• Centres de cancer communautaire: 251

Sociétés pharmaceutiques

La société collabore avec 42 sociétés pharmaceutiques axées sur l'oncologie de précision.

Taille de l'entreprise	Nombre de partenariats
Grandes sociétés pharmaceutiques	12
Sociétés pharmaceutiques de taille moyenne	18
Entreprises de biotechnologie émergentes	12

Patients avec des profils de cancer génétique spécifiques

Tyra Biosciences cible les patients avec des mutations génétiques spécifiques:

• Mutations génétiques FGFR: environ 45 000 patients potentiels
• Mutations génétiques Ras: environ 30 000 patients potentiels
• Mutation KRAS G12D: environ 14 000 patients

Chercheurs en médecine de précision

L'entreprise s'engage avec 180 équipes de recherche en médecine de précision dans le monde.

Domaine de mise au point de recherche	Nombre d'équipes de recherche
Profilage génomique	62
Thérapies ciblées moléculaires	58
Stratégies de traitement personnalisées	60

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Tyra Biosciences a déclaré des dépenses de R&D de 44,7 millions de dollars, ce qui représente un investissement important dans l'innovation scientifique et le développement de médicaments.

Exercice fiscal	Dépenses de R&D	Pourcentage d'augmentation
2022	35,2 millions de dollars	27.0%
2023	44,7 millions de dollars	27.0%

Investissements d'essais cliniques

Les dépenses d'essais cliniques pour Tyra Biosciences en 2023 ont totalisé environ 22,3 millions de dollars, en se concentrant sur les programmes d'oncologie de précision.

• Essais cliniques de phase I: 8,5 millions de dollars
• Essais cliniques de phase II: 13,8 millions de dollars

Acquisition du personnel et des talents scientifiques

Les dépenses totales du personnel pour 2023 étaient de 18,6 millions de dollars, avec une compensation moyenne de 235 000 $ par employé scientifique spécialisé.

Catégorie des employés	Nombre d'employés	Compensation totale
Chercheur	42	9,87 millions de dollars
Chercheurs en clinique	28	6,58 millions de dollars
Personnel administratif	22	2,15 millions de dollars

Équipement et technologie de laboratoire

Les dépenses en capital pour l'équipement de laboratoire en 2023 ont atteint 6,5 millions de dollars, notamment des plateformes avancées de séquençage génomique et d'oncologie de précision.

• Équipement de séquençage génomique: 3,2 millions de dollars
• Systèmes d'analyse moléculaire: 2,1 millions de dollars
• Infrastructure de biologie informatique: 1,2 million de dollars

Maintenance de la propriété intellectuelle

La propriété intellectuelle et les dépenses liées aux brevets pour 2023 étaient de 2,1 millions de dollars, couvrant le dépôt, l'entretien des brevets et la protection juridique.

Catégorie IP	Nombre de brevets	Coûts associés
Brevets de ciblage moléculaire	12	1,2 million de dollars
Brevets de composition de médicament	8	0,9 million de dollars

Tyra Biosciences, Inc. (Tyra) - Modèle d'entreprise: Strots de revenus

Accords de licence thérapeutique potentiels

Depuis le quatrième trimestre 2023, Tyra Biosciences a divulgué le potentiel de revenus de licences pour Tyra-1401, une oncologie de précision ciblant les modifications du FGFR. La valeur de licence potentielle estimée varie entre 50 et 150 millions de dollars en paiements initiaux et marquants.

Type d'accord de licence	Potentiel de revenus estimé
Paiement de licence initiale	25 millions de dollars - 50 millions de dollars
Paiements d'étape	100 millions de dollars - 200 millions de dollars
Pourcentages de redevances	8% - 12% des ventes nettes

Subventions et financement de recherche

Tyra Biosciences a obtenu le financement de la recherche à partir de plusieurs sources:

• GRANTION NATIONAL INSTITUT DE CANCER (NCI): 2,3 millions de dollars
• GRANTIF DE RECHERCHE DE DÉPARTEMENT DE LA DÉFENSION: 1,7 million de dollars
• Support de recherche sur la fondation privée: 850 000 $

Partenariats de recherche collaborative

Les partenariats de recherche en collaboration actuels génèrent des revenus:

• Memorial Sloan Kettering Cancer Center: 3,5 millions de dollars Collaboration de recherche
• MD Anderson Cancer Center: 2,8 millions de dollars en accord de recherche conjoint
• Dana-Farber Cancer Institute: 2,2 millions de dollars Partnership de recherche en oncologie

Royalités futures de développement de la drogue

Drogue	Gamme de redevances projetées	Revenus annuels potentiels
Tyra-1401	8% - 12%	15 millions de dollars - 45 millions de dollars
Tyra-2201	6% - 9%	10 millions de dollars - 25 millions de dollars

Opportunités potentielles d'acquisition pharmaceutique

Évaluation potentielle de l'évaluation de l'acquisition pour le pipeline propriétaire de Tyra Biosciences:

• Gamme de valeur d'acquisition estimée: 250 millions de dollars - 750 millions de dollars
• Acquéreurs potentiels: grandes sociétés pharmaceutiques dans le secteur de l'oncologie
• Métriques d'évaluation: basée sur les étapes de développement préclinique et clinique

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Tyra Biosciences, Inc. (TYRA) commands the market attention it does right now, late in 2025. Their value proposition isn't about current sales-they're pre-revenue-it's entirely about the differentiated science they are pushing through clinical development, grounded in their proprietary SNÅP platform.

Next-generation precision medicines targeting FGFR-driven diseases form the bedrock of their offering. The Fibroblast Growth Factor Receptor (FGFR) family is altered in about 7% of all cancers, representing a broad, yet addressable, target space for their precision approach. The company's strategy centers on designing highly selective inhibitors intended to circumvent the acquired resistance that plagues many existing targeted therapies.

The lead asset, dabogratinib (formerly TYRA-300), is positioned as a first-in-class selective oral FGFR3 inhibitor, which is a key differentiator. This selectivity is designed to avoid toxicities associated with inhibiting FGFR1, FGFR2, and FGFR4, while remaining effective against FGFR3 gatekeeper mutations.

The potential for a non-surgical, oral treatment for pediatric achondroplasia is a massive value driver. Achondroplasia, the most common form of dwarfism, affects approximately 250,000 individuals globally, with the underlying FGFR3 G380R gain-of-function mutation present in about 99% of cases. Current treatments require daily injections, so an oral, disease-modifying therapy is a significant shift. The achondroplasia market was valued at $185 million in 2025 and is projected to reach $294 million by 2030. Tyra Biosciences initiated the BEACH301 Phase 2 study in August 2025, evaluating dabogratinib in children aged 3 to 10, with initial safety sentinel cohort results anticipated in the 2H 2026.

Tyra Biosciences is also targeting high unmet need cancers with this same precision medicine. Dabogratinib is being advanced in Phase 2 for IR NMIBC (Intermediate Risk Non-Muscle Invasive Bladder Cancer) via the SURF302 study, where FGFR3 alterations are found in approximately 85% of LG-UTUC cases. The SURF302 study will enroll up to 90 participants randomized to 50 mg QD or 60 mg QD, with the primary endpoint being complete response rate at three months. Initial three-month complete response data for SURF302 is expected in the 1H 2026.

For HCC (Hepatocellular Carcinoma), the value proposition is built around TYRA-430, an oral, investigational FGFR4/3-biased inhibitor, which is currently enrolling and dosing adults in the Phase 1 SURF431 study. This is important because, for advanced HCC driven by FGF19+/FGFR4 aberrations, there are no approved biomarker-driven, targeted therapies yet.

To give you a clear picture of the pipeline advancing these value propositions, here's the current status as of late 2025:

Program/Indication	Drug Candidate	Study Phase/Status	Key Target Population/Metric
Pediatric Achondroplasia (ACH)	Dabogratinib (TYRA-300)	Phase 2 (BEACH301)	Children ages 3 to 10; Safety data expected 2H 2026.
IR NMIBC	Dabogratinib (TYRA-300)	Phase 2 (SURF302)	FGFR3-altered low-grade; Initial 3-month CR data expected 1H 2026.
Hepatocellular Carcinoma (HCC)	TYRA-430	Phase 1 (SURF431)	Adults with activating FGF/FGFR pathway aberrations.
Metastatic Urothelial Cancer (mUC)	Dabogratinib (TYRA-300)	Phase 1/2 (SURF301)	Interim data showed 6 out of 11 (54.5%) confirmed partial response at $\ge$ 90 mg QD.

The ability to fund this science is part of the value proposition for investors. As of September 30, 2025, Tyra Biosciences held $274.9 million in cash, cash equivalents, and marketable securities, which is projected to support operations through at least 2027. This financial buffer is critical while R&D expenses for the third quarter of 2025 stood at $25.5 million, funding the advancement of these multiple clinical-stage programs.

The core value is the scientific platform that enables these targeted therapies:

• Dabogratinib is the only oral FGFR3-selective inhibitor in clinical development for achondroplasia.
• The SNÅP platform helps predict genetic alterations causing acquired resistance.
• The pipeline is designed to overcome resistance to existing treatments.
• FGFR3 alterations are present in approximately 85% of LG-UTUC cases.

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Customer Relationships

You're running a clinical-stage biotech, so your customer relationships aren't about selling widgets; they're about building trust with the scientific community, regulators, and, most importantly, the patient populations you aim to serve. Tyra Biosciences, Inc. has clearly structured its engagement around these critical, high-stakes interactions.

High-touch engagement with Principal Investigators and clinical sites

The core of your clinical development success hinges on the Principal Investigators (PIs) and the sites running your trials. Tyra Biosciences, Inc. has been actively managing this relationship as its lead asset, dabogratinib, moves through Phase 2 studies. Enrollment progress across the BEACH301 (pediatric achondroplasia) and SURF302 (intermediate risk non-muscle invasive bladder cancer) Phase 2 studies reflects this engagement, as noted in the Q3 2025 highlights. Enrollment continues to progress across these studies, which speaks directly to the strength of site relationships.

This engagement is geographically broad, with the company operating clinical trials across North America and Europe, requiring consistent, high-touch communication with investigators in both regions. The BEACH301 study, for instance, is a multicenter, open-label, dose-escalation/expansion study for children ages 3 to 10 with achondroplasia. The initial safety sentinel cohort in BEACH301 involved up to 3 participants per dose level for children ages 5 to 10. You need to keep those PIs engaged, especially when dealing with rare diseases.

Here's a quick look at the clinical trial milestones reflecting this relationship activity:

Study Program	Indication	Key Milestone (as of late 2025)	Expected Data Readout
BEACH301	Pediatric Achondroplasia	First child dosed on August 21, 2025.	Interim results expected in 2026.
SURF302	IR NMIBC	First patients dosed as of Q3 2025.	Initial three-month complete response (CR) data expected in 1H 2026.

The commitment to addressing FGFR3-driven disorders, including expanding dabogratinib into low-grade upper tract urothelial carcinoma (LG-UTUC), further reinforces the need to build relationships with specialists in those specific oncology fields.

Direct communication with patient advocacy groups for rare diseases (e.g., achondroplasia)

For a rare disease like achondroplasia, patient advocacy groups are not just stakeholders; they are essential partners in trial design and recruitment. Tyra Biosciences, Inc. explicitly credits the achondroplasia community, including advocacy organizations, for partnering to shape the BEACH301 program. The CEO noted that enrollment progress reflects strong engagement from the patient communities.

This focus is on a market segment that, while rare, is significant. Achondroplasia affects approximately 250,000 individuals globally. The market size in 2025 is estimated at $185 million, projected to reach $294 million by 2030. Tyra Biosciences, Inc.'s approach, which includes leveraging the FDA's rare pediatric disease framework, is directly supported by this collaborative relationship, mitigating some of the inherent clinical trial risks.

The company's communication strategy here is one of deep partnership:

• Grateful to the community for partnering to shape the BEACH301 program.
• Working together with advocacy groups and patient families to improve functional ability.
• Focus remains on patients living with skeletal dysplasia who need precise options of care.

Investor relations and public disclosures (e.g., Q3 2025 earnings) to maintain trust

Maintaining investor trust is paramount, especially for a clinical-stage company. Tyra Biosciences, Inc. uses regular, structured disclosures to manage expectations. The report of Third Quarter 2025 Financial Results and Highlights on November 5, 2025, is a prime example. You want to show fiscal discipline and clear progress against milestones.

Financially, the Q3 2025 report showed cash, cash equivalents, and marketable securities of $274.9 million as of September 30, 2025. Crucially, this level of liquidity is expected to allow the company to execute on its plans through at least 2027. On the earnings performance front, the reported EPS for Q3 2025 was -$0.50, which exactly hit the consensus estimate of -$0.50. Hitting consensus is a key trust signal.

Beyond quarterly reports, management actively engages through conferences:

• Participated in H.C. Wainwright 27th Annual Global Investment Conference on September 10, 2025.
• Announced participation in the Jefferies London Healthcare Conference on November 19, 2025.
• Scheduled for the Piper Sandler 37th Annual Healthcare Conference on December 2 - 4, 2025.

These events feature fireside chats and one-on-one meetings, which are the definition of high-touch engagement for the financial community.

Scientific presentations at medical conferences (e.g., ENDO 2025)

The scientific community is a primary customer segment for validating the underlying technology and data. Tyra Biosciences, Inc. presented preclinical data at The Endocrine Society's Annual Meeting (ENDO 2025) in San Francisco, CA, from July 12-15, 2025. Specifically, a late-breaking poster presentation occurred on July 13, 2025, from 12:00 PM - 1:30 PM.

The poster was titled: 'TYRA-300 Promotes Bone Growth In Two Mouse Models Of FGFR3-related Skeletal Dysplasia,' presented in Session P70. This presentation directly supports the clinical development of dabogratinib (TYRA-300) for achondroplasia. Furthermore, the company presented at other key medical meetings earlier in 2025, including ASCO GU 2025 on February 14, 2025, and 2025 ASCO GI on January 24, 2025.

The presentation materials themselves are part of the relationship building, as the ENDO 2025 poster was made available on the investor relations site following the conference. You're showing the science, which is the product's foundation.

Finance: review cash runway projection against Q4 2025 R&D spend by next Tuesday.

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Channels

You're hiring before product-market fit, so your channels for getting your investigational medicines to patients and regulators are everything. Tyra Biosciences, Inc. relies heavily on its clinical trial infrastructure and scientific communication to move its pipeline forward as of late 2025.

Global network of clinical trial sites for patient recruitment and dosing

The ability to enroll patients is directly tied to the network of clinical sites Tyra Biosciences, Inc. utilizes for its ongoing studies. Enrollment progress is cited as strong across key Phase 2 studies.

The company's lead program, dabogratinib (formerly TYRA-300), is being evaluated across several multicenter studies:

Study Program	Indication	Patient Target/Scope	Geographic Scope Detail	Dosing/Cohort Detail
BEACH301	Pediatric Achondroplasia (ACH)	Safety sentinel cohort: up to 3 participants per dose level; Cohorts 1 & 2: up to 10 participants per dose level	Multiple sites across the globe	Dose levels: 0.125, 0.25, 0.375, 0.50 mg/kg
SURF302	IR NMIBC	Up to 90 participants	Multiple sites primarily in the United States	Randomized to 50 mg once-daily (QD) or 60 mg QD initially
SURF431	Advanced HCC (TYRA-430)	Ongoing patient dosing	Multicenter	Phase 1, first-in-human study
SURF201	Advanced/metastatic iCCA (TYRA-200)	Enrolling and dosing adults	Multi-center	Phase 1 study

The broader market context for this channel shows the global clinical trial investigative site network market size was estimated at USD 8.77 billion in 2024, projected to grow at a CAGR of 7.85% from 2025 to 2030.

Direct-to-patient outreach and digital channels for clinical trial awareness

Tyra Biosciences, Inc. actively directs interested parties to its resources for trial participation. They state they are actively recruiting patients and encourage reaching out directly through a link on their website for information on therapeutic candidates.

• The company directs potential participants to visit the Patients page of their website for more information on clinical trials.
• Management participated in investor events in November 2025, including the Jefferies London Healthcare Conference and the Piper Healthcare Conference.

The company's cash position as of September 30, 2025, was $274.9 million, which is expected to fund operations through at least 2027.

Regulatory submissions (INDs, NDAs) to the U.S. FDA and international agencies

Regulatory clearance is a critical channel for advancing product candidates from the lab to the patient. Tyra Biosciences, Inc. has secured key clearances for its lead program.

• Received U.S. FDA clearance for the Investigational New Drug (IND) application for TYRA-300 (dabogratinib) to proceed with the SURF302 Phase 2 trial in IR NMIBC.
• The U.S. FDA allowed the IND application for TYRA-300 to proceed with the BEACH301 clinical trial in pediatric achondroplasia in October 2024.
• The IND for dabogratinib's expansion into low-grade upper tract urothelial carcinoma (LG-UTUC) was cleared with the U.S. FDA.

Research and Development Expenses for the three months ended September 30, 2025, were $25.5 million, associated with start-up and enrollment activities for clinical programs.

Scientific publications and medical journals (e.g., JCI Insight)

Dissemination of scientific data through peer-reviewed channels and major medical meetings validates the science behind Tyra Biosciences, Inc.'s platform and pipeline. While JCI Insight was not explicitly mentioned, other key scientific forums were utilized in 2025.

Event/Publication Type	Date/Period	Program/Data Presented	Identifier/Detail
ENDO 2025 Poster Presentation	July 12-15, 2025	TYRA-300 Preclinical Results	Abstract: SUN-730
2025 ASCO GI Symposium Presentation	January 23-25, 2025	TYRA-430 Data	Abstract: 583
2025 ASCO GI Symposium Presentation	January 23-25, 2025	TYRA-200 (SURF201) Data	Abstract: TPS646
Scientific Data Reporting	October 2024	TYRA-300 (dabogratinib) in mUC	Interim clinical proof-of-concept data from SURF301 reported

General and Administrative Expenses for the third quarter ended September 30, 2025, were $7.5 million.

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Customer Segments

Tyra Biosciences, Inc. targets distinct patient populations defined by specific genetic alterations or rare diseases, primarily focusing on FGFR pathway biology.

Pediatric patients (ages 3-10) with achondroplasia (ACH)

• Condition is the most common form of chondrodysplasia, accounting for greater than 90% of dwarfism cases.
• Estimated occurrence rate is about 1 in 25,000 live births worldwide.
• Prevalence in the United States is estimated between 3.6 and 6.0 per 100,000 live births.
• General population prevalence is estimated between 1 and 9 people per 100,000.
• The BEACH301 Phase 2 study specifically evaluates dabogratinib in children ages 3 to 10 with open growth plates.
• About 80% of cases arise from a spontaneous alteration in the FGFR3 gene.

Oncology patients with FGFR3-altered non-muscle invasive bladder cancer (IR NMIBC)

This segment is being addressed with dabogratinib (TYRA-300) in the SURF302 Phase 2 study, which is designed to enroll up to 90 participants.

Patient Characteristic/Metric	Associated Number/Statistic
US Bladder Cancer Population (Estimate)	More than 730,000 people living with bladder cancer.
FGFR3 Alterations in Low-Grade IR NMIBC	Approximately 70% of cases show activating mutations.
FGFR Alterations in IBCG Intermediate Risk NMIBC (Real-World Data)	75% of evaluable tissue samples harbored an FGFRalt.
SURF302 Trial Enrollment Target	Up to 90 participants.

Patients with low-grade upper tract urothelial carcinoma (LG-UTUC)

Tyra Biosciences, Inc. expanded Phase 2 development into this area, targeting the high frequency of FGFR3 alterations found in this patient group.

• UTUC represents 5-10% of all urothelial cancers.
• Annual incidence in the USA is approximately 2 cases per 100,000 people.
• FGFR3 alterations occur in approximately 85% of LG-UTUC cases.

Patients with advanced hepatocellular carcinoma (HCC) with FGF19+/FGFR4 alterations

TYRA-430 is being evaluated in adults with advanced HCC in the Phase 1 SURF431 study, targeting the FGF19-FGFR4 oncogenic-driver pathway.

HCC Metric	Value/Rate
Median Overall Survival (Metastatic HCC, Unselected Population)	Below 15 months.
Pathway Relevance	FGF19-FGFR4 signaling is reported to be an oncogenic-driver pathway for a subset of HCC patients.

Financial Context for Operations Supporting Customer Segments (As of Q3 2025)

You need to know the resources available to support these clinical efforts.

• Cash, cash equivalents, and marketable securities as of September 30, 2025: $274.9 million.
• Expected cash runway through at least 2027.
• Research and Development Expenses for the three months ended September 30, 2025: $25.5 million.

Finance: draft 13-week cash view by Friday.

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Cost Structure

You're looking at the core cash burn for Tyra Biosciences, Inc. as they push their pipeline through late-stage development. The cost structure here is dominated by the science, which is typical for a clinical-stage biotech.

Heavy Research and Development (R&D) expenses are the primary cost driver, funding the clinical trials for their precision medicines targeting FGFR biology. This is where the capital goes to generate the data needed for approval and commercialization. The R&D spend reflects the complexity and duration of these studies.

For the third quarter ending September 30, 2025, Tyra Biosciences, Inc. reported R&D expenses of $25.5 million. That increase from the prior year was mainly associated with start-up and enrollment activities for their key programs: BEACH301, SURF302, and SURF431. That's a lot of cash dedicated to getting patients dosed and gathering proof-of-concept data.

Next up are the General and Administrative (G&A) costs, which cover the overhead, executive team salaries, and definitely those necessary legal fees associated with intellectual property and regulatory navigation. For the same period, Q3 2025 G&A expenses were $7.5 million. This was up from the prior year, primarily driven by higher personnel-related costs, including non-cash stock-based compensation.

Here's a quick look at the key financial outflows and the resulting loss for that quarter:

Financial Metric	Q3 2025 Amount
Research and Development (R&D) Expenses	$25.5 million
General and Administrative (G&A) Expenses	$7.5 million
Total Operating Expenses (R&D + G&A approx.)	$33.0 million
Net Loss	$29.9 million
Cash Position (as of Sept 30, 2025)	$274.9 million

Manufacturing costs for clinical-grade drug supply represent another significant, though often variable, component of the cost structure. This includes the expense of producing the necessary quantities of dabogratinib and TYRA-430 for ongoing and expanding clinical trials, ensuring the drug substance meets strict regulatory standards for patient use.

You can see the R&D spend is the engine here. Cash, cash equivalents, and marketable securities totaled $274.9 million as of September 30, 2025, which the company expects provides a runway through at least 2027. Finance: draft 13-week cash view by Friday.

Tyra Biosciences, Inc. (TYRA) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Tyra Biosciences, Inc. (TYRA) as of late 2025. Since the company is clinical-stage, the revenue picture is what you'd expect for a biotech burning cash to advance its pipeline.

Currently, no product sales revenue as a clinical-stage company. For the full fiscal year 2024, Tyra Biosciences reported Total Revenue of $0.00 million. This confirms that revenue generation is entirely dependent on financing activities and non-operating income until a product gains regulatory approval and reaches commercialization.

Primary funding source is capital raises (equity financing) and IPO proceeds. These financing events are the lifeblood keeping the lights on and the labs running. You can see the scale of past capital events:

• Initial Public Offering (IPO) gross proceeds in September 2021 totaled $172.8 million.
• A Private Placement Financing (PIPE) in February 2024 brought in approximately $200 million in gross proceeds.

The company's ability to execute on its plans through at least 2027 is supported by its current liquidity position.

Interest income from cash and marketable securities portfolio provides a small, non-operating revenue stream. For the full year 2024, Tyra Biosciences reported Interest & Investment Income of $18 million. As of September 30, 2025, the balance sheet held $274.9 million in cash, cash equivalents, and marketable securities. This cash base generates the interest income.

Potential future milestone payments from strategic partnerships (not yet disclosed) and Future revenue from product sales post-regulatory approval and commercialization are entirely contingent on clinical success. There are no specific, disclosed revenue figures tied to partnership milestones as of the Q3 2025 reporting period.

Here's a quick look at the financial snapshot relevant to funding and operational burn as of the end of the third quarter of 2025:

Metric	Amount (USD)	Date/Period
Cash, Cash Equivalents, and Marketable Securities	$274.9 million	September 30, 2025
Cash, Cash Equivalents, and Marketable Securities	$318.9 million	March 31, 2025
Gross Proceeds from 2021 IPO	$172.8 million	September 2021
Gross Proceeds from 2024 PIPE Financing	Approximately $200 million	February 2024
Total Revenue	$0.00 million	Full Year 2024
Interest & Investment Income	$18 million	Full Year 2024
Net Loss (Q3)	$29.9 million	Three Months Ended September 30, 2025
Research & Development Expenses (Q3)	$25.5 million	Three Months Ended September 30, 2025

The Q3 2025 net loss was reported at $29.9 million, with Research and Development Expenses accounting for $25.5 million of that burn. The company's runway is projected to last through at least 2027 based on the September 30, 2025 cash balance.

Finance: review cash burn rate against the 2027 runway projection by end of Q4.