Tyra prices $400 million financing to support drug development

Tyra Biosciences ($TYRA) priced an underwritten financing expected to raise approximately $400 million before fees and expenses. The transaction comprises 9,079,000 common shares at $22.03 each and pre-funded warrants covering another 9,078,529 shares at $22.029, with a remaining exercise price of $0.001. All securities are being sold by the company rather than existing shareholders.

Proceeds will support its dabogratinib development strategy across upper-tract urothelial cancer, intermediate-risk non-muscle-invasive bladder cancer and achondroplasia, alongside discovery work and general corporate needs. Closing remains subject to customary conditions. The financing expands available capital but also introduces additional share exposure; the pre-funded warrants are not free upside or a separate grant. The announcement does not itself report new clinical efficacy results.

Sources:

• Tyra — offering pricing and uses of proceeds