On November 7, 2024, Tyra Biosciences reported its financial results for the third quarter ended September 30, 2024. The company announced cash, cash equivalents, and marketable securities totaling $360.1 million as of September 30, 2024.
The net loss for the third quarter of 2024 was $24.016 million, an increase from the $21.152 million net loss reported for the same period in 2023. Research and development expenses rose to $22.697 million from $19.271 million year-over-year, reflecting increased investment in the clinical pipeline.
General and administrative expenses also increased to $5.907 million from $4.692 million in the prior year's quarter. The weighted-average shares used to compute net loss per share were 58,874,497 for Q3 2024, compared to 42,868,340 for Q3 2023. The company also highlighted positive interim clinical proof-of-concept results for TYRA-300 in mUC and IND clearance for the Phase 2 pediatric achondroplasia study.
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