IPO for Tyra Biosciences (TYRA) Opens 87% Higher

September 15, 2021 10:24 AM EDT

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Today's IPO for Tyra Biosciences, Inc. (Nasdaq: TYRA) opened for trading at $29.90 after pricing 10,800,000 shares of common stock at an initial public offering price of $16.00 per share.

BofA Securities, Jefferies and Cowen are acting as joint book-running managers for the offering.

Tyra Biosciences, Inc. is a precision oncology company focused on developing purpose-built therapies to overcome tumor resistance and improve outcomes for patients with cancer. Tyra is using its proprietary SNÅP platform, which is optimized to enable rapid and precise refinement of structural design through iterative molecular SNÅPshots, in order to generate next-generation product candidates that are specifically designed to address acquired drug resistance and provide alternative treatment options. Tyra is initially focused on developing a pipeline of selective inhibitors of the Fibroblast Growth Factor Receptor, or FGFR, family, which are altered in approximately 7% of all cancers. Tyra's lead product candidate, TYRA-300, is designed to selectively inhibit FGFR3, with an initial focus on patients with bladder cancer.

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