Tyra Biosciences prices $400 million stock offering

Tyra Biosciences, Inc. (Nasdaq: TYRA) announced on September 14, 2026 the pricing of an underwritten offering of 9,079,000 shares of its common stock at a price of $22.03 per share and, in lieu of shares of common stock to certain investors, pre-funded warrants to purchase 9,078,529 shares of common stock at a purchase price of $22.029 per share¹. The gross proceeds to Tyra from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $400.0 million.¹ The offering is expected to close on September 15, 2026, subject to the satisfaction of customary closing conditions.¹

According to the prospectus supplement, the company estimates it will receive net proceeds of approximately $373.9 million from the sale of shares of common stock and pre-funded warrants offered in this offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the company.²

Tyra said it intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to advance its "dabogratinib 3x3" development strategy in low-grade upper tract urothelial carcinoma (LG-UTUC), intermediate-risk non-muscle invasive bladder cancer (IR NMIBC) and achondroplasia (ACH), as well as to support its preclinical and drug discovery programs, working capital and other general corporate purposes.¹

The offering was led by RA Capital Management, and Jefferies, Guggenheim Securities, Cantor, Barclays and William Blair are acting as joint book-running managers, with Wedbush PacGrow, Raymond James and Oppenheimer & Co. acting as lead managers.¹

The underwriters agreed to purchase shares at $20.7082 and pre-funded warrants at $20.7072, per the company's 8-K, which also notes the deal proceeds under a shelf registration that became automatically effective on September 14, 2026.¹ A separate legal opinion from Latham & Watkins LLP covers the share and warrant issuance.