Tyra Biosciences To Make Nasdaq Debut On Sep. 15

tyrabiosciences sep15 lt

Tyra Biosciences, founded in 2018, is making its debut on the Nasdaq Global Market today (September 15), under ticker symbol "TYRA."

Tyra Biosciences is precision oncology company developing therapies, based on its proprietary SNÅP platform, to overcome tumor resistance and improve outcomes for patients with cancer.

The company has offered to sell 10.8 million ordinary shares at a price of $16 per share in the IPO. The underwriters have an option for a period of 30 days to purchase up to an additional 1.62 million shares.

The offering, which is scheduled to close on September 17, 2021, is expected to rake in gross proceeds of about $$172.8 million.

Underwriters of the IPO:

BofA Securities, Inc., Jefferies LLC and Cowen and Company, LLC

Pipeline and Near-term Catalysts:

The company is initially focused on developing a pipeline of selective inhibitors of the Fibroblast Growth Factor Receptor (FGFR) family.

The lead product candidate from its FGFR3 program is TYRA-300 for the treatment of muscle invasive bladder cancer, or MIBC. The company expects to file an Investigational New Drug application with FDA in the mid-2022.

In addition, the company has programs targeting FGFR2-related cancers, FGFR3-related achondroplasia, Rearranged during Transfection kinase, or RET, and FGFR4-related cancers, which are in discovery stage.

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