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$TYRA

3 stories mentioning TYRAUpdated 8d ago

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Wire

Update: Tyra Bioscience Shares Rise After Pricing $400 Million Offering

(Updates with the latest stock price movement in the headline and the first paragraph.)Tyra Bioscience (TYRA) shares rose more than 15% in Monday trading after the company said it has priced its $400 million underwritten offering of 9.1 million common shares and pre-funded warrants each at $22.03 apiece.The company said it intends to use net proceeds from the offering, along with existing cash, for its low-grade upper tract urothelial carcinoma, intermediate-risk non-muscle invasive bladder cancer, and achondroplasia programs, and other general corporate purposes.Tyra said RA Capital Management led the offering, with participation from Invus, Commodore Capital, BVF Partners, Janus Henderson Investors, and other investment management firms.The offering is expected to close on Tuesday, the company said.Price: $25.38, Change: $+3.35, Percent Change: +15.18%

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Wire

Tyra Biosciences' Weak Investor Sentiment Reflects Macro Pressures, Renewed SURF-302 Concerns, BofA Says

Tyra Biosciences' (TYRA) weak investor sentiment reflects a mix of macro pressures, profit-taking, and renewed concerns around the SURF-302 update, although efficacy expectations appear appropriately framed, while safety should be manageable, BofA Securities said Wednesday.The update will likely go a long way toward validating dabogratinib's tolerability-driven differentiation thesis and, by extension, its potential in other FGFR3 settings, including upper tract urothelial carcinoma and achondroplasia. Hence, there is room for the shares to re-rate following the recent pullback, the brokerage said.Assuming similar efficacy and tolerability, key opinion leaders viewed oral dosing with dabogratinib as having an advantage over intravesical therapies due to patients' aversion to frequent catheterizations, highlighting a clear path to adoption in an older population, according to the note.Based on feedback from key opinion leaders, BofA raised its dabogratinib forecast in adjuvant non-muscle invasive bladder cancer to $1.8 billion in 2035, which, after applying its likelihood-of-success risk adjustment of 40%, results in adjusted sales of $719 million, the note added.BofA kept a buy rating on Tyra Biosciences and raised the price target to $42 from $37.Price: $26.30, Change: $+0.36, Percent Change: +1.39%

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Research

Guggenheim Initiates Tyra Bioscience at Buy With $54 Price Target

Tyra Bioscience (TYRA) has an average rating of buy and mean price target of $50.40, according to analysts polled by FactSet.

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