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Tyra Biosciences , Inc. (NASDAQ:TYRA), a clinical-stage biotech company with a market capitalization of $572 million, announced Thursday that the first child has been dosed in its BEACH301 Phase 2 clinical study of dabogratinib, previously known as TYRA-300, for children with achondroplasia. The company stated it expects to report initial results from the safety sentinel cohort of the BEACH301 study in the second half of 2026. The announcement has contributed to TYRA’s strong recent performance, with the stock gaining 9% in the past week.
The BEACH301 trial is designed to evaluate dabogratinib in pediatric patients diagnosed with achondroplasia, a genetic condition that results in dwarfism. Tyra Biosciences, headquartered in Carlsbad, California, maintains a strong financial position with a current ratio of 21.94 and more cash than debt on its balance sheet. InvestingPro analysis reveals 8 additional key insights about the company’s financial health and market position.
The company made the announcement in a press release statement included in a filing with the Securities and Exchange Commission. Tyra Biosciences noted that it qualifies as an emerging growth company under SEC regulations.
No additional financial terms or study enrollment figures were disclosed in the filing.
In other recent news, Tyra Biosciences has initiated dosing in its Phase 2 clinical trial for the treatment of achondroplasia, a common form of dwarfism, with its oral FGFR3-selective inhibitor, dabogratinib. The BEACH301 trial will focus on children aged 3 to 10 with achondroplasia, and initial results are anticipated in the second half of 2026. Additionally, the company has started dosing in its SURF302 Phase 2 clinical study for TYRA-300, targeting low-grade, intermediate risk non-muscle invasive bladder cancer. This open-label trial will enroll up to 90 participants, primarily in the U.S., to assess the efficacy and safety of TYRA-300. Participants will be randomized to receive either 50 mg or 60 mg of the drug daily, with the possibility of an additional dosing cohort based on initial data reviews. H.C. Wainwright has reiterated its Buy rating for Tyra Biosciences, maintaining a price target of $30. This rating follows the company’s announcement of the first patient being dosed in the SURF302 trial.
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