TYRA

Over the past six months (April - October 2026), Tyra Biosciences reported its first-quarter and second-quarter 2026 financial results, highlighting progress in its 'dabogratinib 3x3' strategy and an expected cash runway into the second half of 2028. However, on September 9, 2026, the company announced initial Phase 2 data for oral dabogratinib in bladder cancer, which, despite a favorable safety profile, showed a complete response rate below analyst expectations and 9% to 14% of participants experiencing Grade 3 treatment-emergent adverse events. This news led to a substantial stock price drop of 17.66% on September 9, 2026, and approximately 38% at market open. Subsequently, on September 14, 2026, Tyra announced the pricing of a $400 million underwritten offering. Furthermore, in late September and early October 2026, news emerged of legal investigations by Bronstein, Gewirtz & Grossman, LLC, and Pomerantz LLP into potential securities fraud or unlawful business practices related to the Phase 2 trial data disclosure. Overall, the stock experienced a significant decline of -45.64% over this six-month period.