Tyra Biosciences sold full $150,000,000 under sales program, raises limit to $250,000,000

The supplement

Tyra Biosciences, Inc. (Nasdaq: TYRA) filed a prospectus supplement dated August 4, 2026 to update its at-the-market prospectus. The supplement covers up to $250,000,000 of common stock, and it has to be read together with that prospectus, which was dated May 16, 2025 and filed as part of a Form S-3 registration statement.

The supplement says it is intended only to update the at-the-market prospectus to the extent it sets out, and that it cannot be used without that prospectus and later amendments. The company signed the original sales agreement on May 8, 2025 with TD Securities (USA) LLC, known as TD Cowen. TD Cowen can act as sales agent or as principal. The original agreement covered up to $150,000,000 of common stock.

The full $150,000,000

The supplement says Tyra has sold an aggregate of $150,000,000 of shares under that agreement and the prospectus, using the full amount then available for issuance. The supplement does not say when those sales were made.

On August 4, 2026, Tyra amended the sales agreement. The maximum aggregate offering price was raised from $150,000,000 to a figure limited by the shares registered on an effective registration statement. After the supplement, the company says it may offer and sell up to $250,000,000 of common stock under the amended agreement.

The last reported sale price on the Nasdaq Global Select Market was $32.04 a share on August 3, 2026. The supplement does not give a price for any future sale. It says investing involves a high degree of risk, and it points readers to the risk factors on page 8 of the at-the-market prospectus, along with the risk factors in Tyra's most recent annual report and any quarterly reports filed after it.

The business

Tyra describes itself as a clinical-stage biotechnology company developing precision medicines in targeted oncology and genetically defined conditions. Its work centers on fibroblast growth factor receptor biology, and it uses an in-house platform, SNÅP, to design oral small molecule candidates against targets it says have been considered difficult to drug. The platform works through iterative molecular designs, which the company says help it predict which candidates may show the highest potency, selectivity and tolerability in the clinic. Tyra says it has built a wholly owned pipeline of oral small molecule candidates.

Its FGFR3 programs include oral dabogratinib, formerly TYRA-300, for urothelial cancers and for skeletal dysplasia. The company describes FGFR3 as a validated driver in several indications.

The costs

The XBRL data in the company's 10-K for 2025 show research and development expense of $102.9 million, up from $80.1 million in 2024. The net loss was $119.9 million in 2025, against $86.5 million in 2024. Cash used in operations was $95.1 million in 2025 and $69.8 million in 2024.

Year-end cash and cash equivalents were $77.4 million at December 31, 2025, compared with $92.0 million at December 31, 2024. Cash and cash equivalents were $73.8 million at June 30, 2026, according to the company's quarterly report. The company has sold the entire $150,000,000 under the original program.

What the supplement does not say

The supplement does not give the number of shares sold, the average price, or how much of the new $250,000,000 Tyra expects to use. It names TD Cowen as the only sales agent and gives no commission rate, and it names no counsel. It does not describe the trial timetable for dabogratinib.

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