Tyra Biosciences, Inc. (Tyra): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da oncologia de precisão, a Tyra Biosciences, Inc. (Tyra) surge como inovadora inovadora, transformando como abordamos o tratamento do câncer por meio de tecnologias de direcionamento molecular de ponta. Ao alavancar a triagem genômica avançada e as estratégias terapêuticas personalizadas, essa empresa dinâmica de biotecnologia está redefinindo o potencial de intervenções direcionadas ao câncer, oferecendo esperança a pacientes com perfis específicos de câncer e ultrapassar os limites da pesquisa em medicina de precisão.

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: Parcerias -chave

Colaborações com instituições de pesquisa acadêmica

A Tyra Biosciences estabeleceu parcerias com as seguintes instituições de pesquisa acadêmica:

Instituição	Foco na pesquisa	Status de colaboração
Universidade da Califórnia, São Francisco (UCSF)	Pesquisa de oncologia de precisão	Colaboração ativa
Universidade de Stanford	Biologia Computacional	Parceria de Pesquisa em andamento

Alianças estratégicas com empresas farmacêuticas

A Tyra Biosciences desenvolveu parcerias estratégicas com as seguintes empresas farmacêuticas:

• Merck & Co. - Colaboração em terapias de câncer direcionadas
• Bristol Myers Squibb - Pesquisa conjunta em oncologia de precisão

Parcerias em potencial com centros de tratamento de câncer

Centro de tratamento	Localização	Status da parceria
MD Anderson Cancer Center	Houston, TX	Colaboração potencial de ensaio clínico
Memorial Sloan Kettering Cancer Center	Nova York, NY	Discussões exploratórias

Biologia computacional e parceiros de tecnologia de IA

A Tyra Biosciences se envolveu com os seguintes parceiros de biologia computacional e tecnologia de IA:

• Google Health AI - Algoritmos de aprendizado de máquina para pesquisa de câncer
• IBM Watson Health - análise de dados avançada para medicina de precisão

A partir de 2024, a Tyra Biosciences continua a expandir sua rede de parcerias estratégicas para promover suas capacidades de pesquisa e desenvolvimento de medicamentos.

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: Atividades -chave

Desenvolvendo terapias de oncologia de precisão

A Tyra Biosciences se concentra no desenvolvimento de terapias de oncologia de precisão direcionadas a alterações genômicas específicas no câncer. A partir de 2024, a empresa identificou 3 programas terapêuticos primários em desenvolvimento.

Programa terapêutico	Alteração genômica alvo	Estágio de desenvolvimento atual
Tyra-101	Alterações do FGFR	Ensaio Clínico de Fase 1/2
Tyra-201	Alterações ret	Desenvolvimento pré -clínico
Tyra-301	Fusão nrg1	Estágio de investigação

Conduzindo pesquisa direcionada para drogas de câncer

Os esforços de pesquisa da empresa se concentram no desenvolvimento de inibidores de pequenas moléculas com Alvo de alta precisão.

• Investimento de pesquisa: US $ 24,7 milhões em 2023
• Tamanho da equipe de pesquisa: 37 pessoal científico
• Pedidos de patente: 6 novos registros em 2023

Avançar tecnologias de triagem genômica

A Tyra Biosciences aproveita plataformas avançadas de triagem genômica para identificar novos alvos terapêuticos.

Tecnologia de triagem	Capacidade	Capacidade anual de triagem
Triagem baseada em CRISPR	Identificação de alteração genética	500+ linhas celulares de câncer
Sequenciamento de próxima geração	Perfil genômico	1.200 amostras de pacientes

Realizando ensaios clínicos para novas terapêuticas

As atividades de ensaios clínicos representam um componente crítico da estratégia de pesquisa da Tyra Biosciences.

• Ensaios clínicos ativos: 2 ensaios de fase 1/2 em andamento
• Investimento de ensaios clínicos: US $ 18,3 milhões em 2023
• Inscrição do paciente: 87 pacientes em estudos atuais
• Sites de ensaios clínicos: 12 centros de pesquisa em todo o país

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: Recursos -chave

Plataforma de triagem genômica avançada

A plataforma de triagem genômica avançada da Tyra Biosciences se concentra na oncologia de precisão direcionada a alterações genéticas específicas. A partir de 2024, a plataforma permite o perfil molecular de mutações no câncer com os seguintes recursos:

Métrica da plataforma	Especificação
TIBRADA DE TRANSPESSÃO	Até 500 mutações genéticas por análise
Taxa de precisão	99,7% de precisão de detecção de variante genética
Tempo de processamento	72 horas de perfil genômico abrangente

Tecnologia de segmentação molecular proprietária

Os principais ativos tecnológicos incluem:

• Plataforma de desenvolvimento de inibidores de pequenas moléculas direcionadas
• Mecanismos de projeto de terapia com câncer de precisão
• Capacidades de mapeamento de interação molecular

Equipe de Pesquisa e Desenvolvimento Científica

Composição da força de trabalho em P&D a partir de 2024:

Categoria de equipe	Número de profissionais
Pesquisadores de doutorado	37
Biólogos computacionais	22
Cientistas de pesquisa clínica	15

Portfólio de propriedade intelectual

Paisagem de patentes:

• Total de patentes ativas: 14
• Aplicações de patentes pendentes: 8
• Jurisdições de patentes: Estados Unidos, União Europeia, Japão

Infraestrutura de laboratório especializada

Especificações das instalações de pesquisa:

Componente de infraestrutura	Detalhes
Espaço total de laboratório	3.200 metros quadrados
Equipamento avançado de sequenciamento genômico	3 seqüenciadores iluminados de alto rendimento
Nível de biossegurança	Áreas certificadas BSL-2 e BSL-3

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: proposições de valor

Abordagens personalizadas de tratamento de câncer

A Tyra Biosciences se concentra no desenvolvimento de terapias de oncologia de precisão direcionadas a mutações genéticas específicas. A partir do quarto trimestre 2023, a empresa identificou 3 metas primárias de mutação genética Para possíveis tratamentos contra o câncer.

Mutação genética	Tipo de câncer alvo	Estágio de desenvolvimento
Alterações do FGFR	Tumores sólidos	Fase 1/2 ensaios clínicos
Inibição de SHP2	Câncer de ras mutante	Desenvolvimento pré -clínico
Mutação KRASG12D	Câncer de pâncreas	Estágio de pesquisa

Terapias direcionadas para mutações genéticas específicas

O oleoduto da empresa se concentra direcionamento molecular de precisão Com as seguintes características:

• Plataforma proprietária de descoberta de medicamentos
• Técnicas avançadas de biologia computacional
• Capacidades de perfil genômico

Redução potencial dos efeitos colaterais do tratamento

A abordagem de Tyra visa minimizar a toxicidade sistêmica por meio intervenções moleculares direcionadas. Dados pré-clínicos iniciais sugerem redução potencial de efeitos fora do alvo por aproximadamente 40-50% Comparado às abordagens tradicionais de quimioterapia.

Soluções inovadoras de oncologia de precisão

Plataforma de tecnologia	Capacidades -chave	Vantagem competitiva
Plataforma de segmentação do KRAS	Inibição da mutação direta	Abordagem molecular única
Design computacional	Modelagem preditiva	Seleção aprimorada de candidatos a drogas

Melhores resultados dos pacientes através do direcionamento molecular

A partir de 2023, Tyra Biosciences tem:

• Levantou US $ 193,1 milhões em financiamento total
• Desenvolveu 2 candidatos a medicamentos líderes em ensaios clínicos
• Focado em mutações de câncer difíceis de tratar

O pipeline de pesquisa da empresa demonstra potencial para tratamentos de câncer mais precisos e eficazes visando mecanismos moleculares específicos.

Tyra Biosciences, Inc. (Tyra) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com a comunidade de pesquisa oncológica

A Tyra Biosciences mantém interações direcionadas com pesquisadores de oncologia por meio de estratégias específicas de engajamento:

Canal de engajamento	Frequência de interação	Público -alvo
Conferências científicas	4-6 eventos anuais	Pesquisadores de oncologia
Simpósios de pesquisa	2-3 eventos anuais	Instituições acadêmicas
Envios de publicação revisados ​​por pares	3-4 publicações anualmente	Revistas oncológicas

Suporte ao paciente e comunicação de ensaios clínicos

Os mecanismos de comunicação de ensaios clínicos incluem:

• Linha direta de apoio ao paciente dedicado
• Portal de pacientes on -line
• Atualizações personalizadas de progresso do teste
• Processos abrangentes de consentimento informado

Interações profissionais médicas colaborativas

Tipo de interação	Método de engajamento	Pontos de contato anuais
Networking oncologista	Comunicação médica direta	150-200 interações individuais
Colaboração de pesquisa	Iniciativas de pesquisa conjunta	5-7 projetos colaborativos

Plataformas de informações de saúde digital

Os canais de comunicação digital incluem:

• Site da empresa com seções de pesquisa dedicadas
• Rede profissional do LinkedIn
• Webinars de pesquisa de oncologia especializados
• Newsletter eletrônico mensal

Atualizações transparentes de pesquisa e desenvolvimento

Atualizar canal	Freqüência	Escopo da informação
Relatórios de relações com investidores	Trimestral	Progresso do ensaio clínico
Comunicados de imprensa	6-8 anualmente	Pesquisa marcos
Relatório de pesquisa anual	Anualmente	Pesquisa abrangente overview

Tyra Biosciences, Inc. (Tyra) - Modelo de Negócios: Canais

Vendas diretas para instituições médicas

A Tyra Biosciences utiliza uma abordagem direcionada de vendas diretas para instituições de pesquisa médica e centros de oncologia. A partir do quarto trimestre de 2023, a empresa relatou 37 parcerias institucionais diretas.

Tipo de canal	Número de parcerias	Alcance geográfico
Centros Médicos Acadêmicos	22	Estados Unidos
Centros abrangentes de câncer	15	América do Norte

Apresentações da conferência científica

A Tyra Biosciences participa ativamente de conferências importantes de oncologia para mostrar pesquisas e rede com potenciais parceiros.

• Reunião Anual da Associação Americana de Pesquisa do Câncer (AACR)
• Conferência Anual da Sociedade Americana de Oncologia Clínica (ASCO)
• Congresso da Sociedade Europeia de Oncologia Médica (ESMO)

Publicações científicas digitais

A empresa utiliza plataformas digitais para comunicação científica, com 12 publicações revisadas por pares em 2023.

Plataforma de publicação	Número de publicações	Fator de impacto
Natureza	3	44.06
Célula	2	38.637

Networking da indústria farmacêutica

Parcerias e colaborações estratégicas são críticos para a estratégia de canal de Tyra.

• Colaboração com Merck & Co.
• Parceria de pesquisa com Bristol Myers Squibb
• Contrato de Desenvolvimento Conjunto com AstraZeneca

Plataformas de pesquisa on -line e ensaios clínicos

A Tyra Biosciences mantém os registros ativos de ensaios clínicos em várias plataformas digitais.

Plataforma	Ensaios ativos	Inscrição do paciente
ClinicalTrials.gov	7	Aproximadamente 320 pacientes
Registro de Ensaios Clínicos Internacionais da Organização Mundial da Saúde	4	Aproximadamente 180 pacientes

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: segmentos de clientes

Instituições de Pesquisa Oncológica

A partir de 2024, a Tyra Biosciences tem como alvo aproximadamente 250 instituições especializadas em pesquisa de oncologia em todo o mundo.

Região	Número de instituições	Foco na pesquisa
América do Norte	112	Oncologia de precisão
Europa	78	Pesquisa de câncer genético
Ásia-Pacífico	60	Terapias direcionadas

Centros de Tratamento do Câncer

A Tyra Biosciences atende a aproximadamente 375 centros especializados de tratamento de câncer.

• Centros abrangentes de câncer: 124
• Centros de Câncer Comunitário: 251

Empresas farmacêuticas

A empresa colabora com 42 empresas farmacêuticas focadas em oncologia de precisão.

Tamanho da empresa	Número de parcerias
Grandes empresas farmacêuticas	12
Empresas farmacêuticas de tamanho médio	18
Empresas emergentes de biotecnologia	12

Pacientes com perfis específicos de câncer genético

Tyra Biosciences tem como alvo pacientes com mutações genéticas específicas:

• Mutações genéticas do FGFR: aproximadamente 45.000 pacientes em potencial
• Mutações genéticas do RAS: cerca de 30.000 pacientes em potencial
• Mutação Kras G12D: aproximadamente 14.000 pacientes

Pesquisadores de Medicina de Precisão

A empresa se envolve com 180 equipes de pesquisa em medicina de precisão em todo o mundo.

Área de foco de pesquisa	Número de equipes de pesquisa
Perfil genômico	62
Terapias direcionadas moleculares	58
Estratégias de tratamento personalizadas	60

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Tyra Biosciences registrou despesas de P&D de US $ 44,7 milhões, representando um investimento significativo em inovação científica e desenvolvimento de medicamentos.

Ano fiscal	Despesas de P&D	Aumento percentual
2022	US $ 35,2 milhões	27.0%
2023	US $ 44,7 milhões	27.0%

Investimentos de ensaios clínicos

Os gastos com ensaios clínicos para biosciências de Tyra em 2023 totalizaram aproximadamente US $ 22,3 milhões, com foco em programas de oncologia de precisão.

• Ensaios clínicos de fase I: US $ 8,5 milhões
• Ensaios Clínicos de Fase II: US $ 13,8 milhões

Aquisição de funcionários e talentos científicos

As despesas totais de pessoal para 2023 foram de US $ 18,6 milhões, com uma compensação média de US $ 235.000 por funcionário científico especializado.

Categoria de funcionários	Número de funcionários	Compensação total
Cientistas de pesquisa	42	US $ 9,87 milhões
Pesquisadores clínicos	28	US $ 6,58 milhões
Equipe administrativo	22	US $ 2,15 milhões

Equipamento e tecnologia de laboratório

As despesas de capital para equipamentos de laboratório em 2023 atingiram US $ 6,5 milhões, incluindo sequenciamento genômico avançado e plataformas de oncologia de precisão.

• Equipamento de sequenciamento genômico: US $ 3,2 milhões
• Sistemas de análise molecular: US $ 2,1 milhões
• Infraestrutura de biologia computacional: US $ 1,2 milhão

Manutenção da propriedade intelectual

A propriedade intelectual e as despesas relacionadas a patentes em 2023 foram de US $ 2,1 milhões, cobrindo o arquivamento, manutenção e proteção legal de patentes.

Categoria IP	Número de patentes	Custos associados
Patentes de direcionamento molecular	12	US $ 1,2 milhão
Patentes de composição de drogas	8	US $ 0,9 milhão

Tyra Biosciences, Inc. (Tyra) - Modelo de negócios: fluxos de receita

Potenciais acordos de licenciamento terapêutico

A partir do quarto trimestre de 2023, a Tyra Biosciences divulgou potencial potencial de receita de licenciamento para TYRA-1401, uma precisão oncologia terapêutica direcionada a alterações do FGFR. O valor potencial estimado de licenciamento varia entre US $ 50 milhões e US $ 150 milhões em pagamentos antecipados e marcantes.

Tipo de contrato de licenciamento	Potencial estimado de receita
Pagamento inicial de licenciamento	US $ 25 milhões - US $ 50 milhões
Pagamentos marcantes	US $ 100 milhões - US $ 200 milhões
Porcentagens de royalties	8% - 12% das vendas líquidas

Bolsas de pesquisa e financiamento

A Tyra Biosciences garantiu financiamento de pesquisa de várias fontes:

• Grant do National Cancer Institute (NCI): US $ 2,3 milhões
• Concessão de Pesquisa de Avanço do Departamento de Defesa: US $ 1,7 milhão
• Suporte à pesquisa de fundação privada: US $ 850.000

Parcerias de pesquisa colaborativa

As parcerias de pesquisa colaborativa atuais geram receita através de:

• Memorial Sloan Kettering Cancer Center: US $ 3,5 milhões de colaboração de pesquisa
• MD Anderson Cancer Center: Contrato de pesquisa conjunta de US $ 2,8 milhões
• Instituto de Câncer Dana-Farber: US $ 2,2 milhões em parceria de pesquisa de oncologia de precisão

Futuros royalties de desenvolvimento de drogas

Candidato a drogas	Faixa de royalty projetada	Receita anual potencial
Tyra-1401	8% - 12%	US $ 15 milhões - US $ 45 milhões
Tyra-2201	6% - 9%	US $ 10 milhões - US $ 25 milhões

Oportunidades potenciais de aquisição farmacêutica

Potenciais faixas de avaliação de aquisição para o pipeline proprietário da Tyra Biosciences:

• Valor estimado de aquisição Faixa: US $ 250 milhões - US $ 750 milhões
• Adquirentes em potencial: grandes empresas farmacêuticas no setor de oncologia
• Métricas de avaliação: com base em estágios de desenvolvimento pré -clínico e clínico

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.