Tyra Biosciences' Q1 net loss widens on higher R&D costs

Overview

• U.S. biotech firm's Q1 net loss widened yr/yr as R&D expenses increased

• Company ended Q1 with $383.5 mln in cash and marketable securities, runway into 2H 2028

Outlook

• Company says current cash position expected to fund operations into 2H 2028

Result Drivers

• R&D SPENDING - Co said higher R&D expenses were mainly due to development activities for oral dabogratinib, including ongoing clinical trials and start-up costs for new studies

• HEADCOUNT GROWTH - Increased personnel expenses contributed to higher R&D and G&A costs as co expanded clinical and development activities

Company press release: ID:nPnbdGDFha

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Tyra Biosciences Inc is $51.50, about 47.7% above its May 12 closing price of $34.87

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