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TYRA Tyra Biosciences Reports Third Quarter 2021 Financial Results and Highlights November 3 , 2021 -Successful completion of upsized $ 198.7 million initial public offering ; cash and cash equivalents of $ 312.8 million as of September 30 , 2021- -Nominated 2nd product candidate for clinical development , TYRA - 200 ( FGFR2 inhibitor ) , from its SNAP platform- -Strengthened team with appointments of Esther van den Boom as Chief Financial Officer , John Healy as General Counsel , Allison Kemner as VP , Clinical Sciences and Operations , and Rehan Verjee as a member of the Board of Directors- CARLSBAD , Calif . , Nov. 3 , 2021 / PRNewswire / -- Tyra Biosciences , Inc. ( Nasdaq : TYRA ) , a precision oncology company focused on developing purpose - built therapies to overcome tumor resistance and improve outcomes for patients with cancer , today reported financial results for the quarter ended September 30 , 2021 and highlighted recent corporate progress . " 2021 has been transformational for TYRA . We're pleased to have made meaningful progress across our business with important advancements in our programs , people and financial strategy , " said Todd Harris , CEO of TYRA . " With the capital raised in our IPO from top tier institutional investors , key additions to our leadership and board and the growth of our pipeline , TYRA is well - positioned to execute on our strategy of delivering next - generation therapies to patients with acquired tumor resistance . " Third Quarter 2021 and Recent Corporate Highlights • Completed $ 198.7 Million Upsized Initial Public Offering . In September 2021 , TYRA sold 12,420,000 shares of common stock in its initial public offering , which included the exercise in full by the underwriters of their option to purchase 1,620,000 additional shares of common stock , at a public offering price of $ 16.00 per share . The gross proceeds from the offering , before deducting underwriting discounts and commissions and other offering expenses payable by TYRA , were $ 198.7 million . • Appointed Rehan Verjee to Board of Directors . Rehan Verjee , former President of EMD Serono and Global Head of the Innovative Medicine Franchises for Merck KGaA , was appointed to TYRA's Board of Directors . • Strengthened Leadership . TYRA made key senior appointments including Esther van den Boom as Chief Financial Officer , John Healy as General Counsel , and Allison Kemner as Vice President , Clinical Sciences and Operations . • Nominated 2nd Product Candidate for Clinical Development , TYRA - 200 ( FGFR2 Inhibitor ) . In October 2021 , TYRA nominated its product candidate , TYRA - 200 , for clinical development to treat patients with tumors due to activating mutations and gene alterations in FGFR2 . Similar to therapies designed for the treatment of FGFR3 - driven cancers , resistance to both approved and investigational FGFR inhibitors has been shown to arise due to well - characterized mutations in FGFR2 . TYRA has designed TYRA - 200 to be active against multiple acquired resistant mutations that arise during treatment with other FGFR inhibitors , which remains a high unmet medical need , particularly in intrahepatic cholangiocarcinoma . TYRA anticipates filing an Investigational New Drug application ( IND ) for TYRA - 200 with the U.S. Food and Drug Administration in the second half of 2022 . Third Quarter 2021 Financial Results • Cash Position : Cash and cash equivalents were $ 312.8 million as of September 30 , 2021 , as compared to $ 15.2 million as of December 31 , 2020. TYRA expects its current cash and cash equivalents balance to fund operations through at least 2024 . • R & D Expenses : R & D expenses were $ 5.5 million for the quarter ended September 30 , 2021 , compared to $ 1.9 million for the quarter ended September 30 , 2020. The increase was primarily driven by expenses incurred in connection with the advancement of TYRA - 300 and other development programs as well as increased personnel costs to support increased development activities and the growth of TYRA's pipeline . • General and Administrative ( G & A ) Expenses : G & A expenses were $ 1.2 million for the quarter ended September 30 , 2021 , compared to $ 0.5 million for the quarter ended September 30 , 2020. The increase was primarily driven by increased personnel costs and professional services including accounting , legal and consulting fees .