Tyra Biosciences appoints new board member

Carlsbad-based Tyra Biosciences , Inc. announced a change in its Board of Directors, according to a recent SEC filing. On Monday, Nina Kjellson resigned from her position on the Board and the Compensation Committee, effective Tuesday. The departure was not due to any disagreements with the company’s operations, policies, or practices. The company, currently valued at approximately $810 million, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data.

Following Kjellson’s resignation, the Board appointed Adele M. Gulfo to fill the Class I vacancy. Gulfo brings extensive experience in the pharmaceutical industry, having held executive roles at Sumitomo Pharma America, Sumitovant Biopharma, Myovant Sciences (NYSE:MYOV), Mylan (NASDAQ:VTRS) N.V., Pfizer Inc. (NYSE:PFE), and AstraZeneca (NASDAQ:AZN) Pharmaceuticals. She has also served on the boards of several companies, including Enpro Inc. and Medexus Pharmaceuticals Inc.

In her most recent positions, Gulfo was the Chief Executive Officer of Sumitomo Pharma America’s Biopharma Commercial Unit from July 2023 to October 2024 and previously the Chief Commercial and Business Development Officer at Sumitovant Biopharma since December 2019.

Tyra Biosciences, operating under the name 03 Life Sciences, is a pharmaceutical company incorporated in Delaware and listed on the Nasdaq Global Select Market under the ticker symbol (NASDAQ:TYRA). The company specializes in pharmaceutical preparations, as indicated by its standard industrial classification. Trading at $14.65, InvestingPro analysis suggests the stock is currently overvalued, despite analyst price targets ranging from $28 to $33. The company maintains impressive liquidity with a current ratio of 29.55, though it remains unprofitable with an EBITDA of -$99.59 million in the last twelve months.

As part of her induction, Gulfo was granted options to purchase 37,200 shares of Tyra Biosciences’ common stock and will receive cash compensation in line with the company’s Non-Employee Director Compensation Program. The options will vest over thirty-six months, and Gulfo has entered into a standard indemnification agreement with the company. For deeper insights into TYRA’s valuation metrics and additional financial analysis, including 6 more exclusive ProTips, visit InvestingPro.

The Board has determined that Gulfo qualifies as an independent director according to the Nasdaq Stock Market’s listing requirements. There are no reported arrangements or transactions between Gulfo and any other persons that would require disclosure under SEC regulations.

This corporate governance update is based on a press release statement from Tyra Biosciences, Inc. and reflects the company’s ongoing commitment to strong leadership and governance practices.

In other recent news, Tyra Biosciences has received FDA clearance to proceed with a Phase 2 clinical trial for its drug candidate TYRA-300. The trial will focus on treating low-grade, intermediate risk non-muscle invasive bladder cancer. The company also plans to submit an Investigational New Drug application to commence a Phase 2 trial in achondroplasia. Analysts from UBS and H.C. Wainwright have shown confidence in Tyra Biosciences, with UBS initiating coverage with a Buy rating and a price target of $28.00, while H.C. Wainwright adjusted its price target to $30 from $32, maintaining a Buy rating. Piper Sandler also reaffirmed an Overweight rating on the company’s shares. These are the latest developments in the company’s ongoing efforts to advance its clinical trials and financial prospects.

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