On May 5, 2022 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, reported financial results for the quarter ended March 31, 2022 and highlighted recent corporate progress (Press release, Tyra Biosciences, MAY 5, 2022, View Source [SID1234613724]).

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"2022 is off to a great start at TYRA and we continue to focus our efforts on preparing for a successful transition to a clinical-stage company. We look forward to filing INDs for both TYRA-300 and TYRA-200 this year, while continuing to advance our platform and pipeline," said Todd Harris, CEO of TYRA.

First Quarter 2022 and Recent Corporate Highlights

INDs for TYRA-300 and TYRA-200 on Track. TYRA continued to advance TYRA-300, an FGFR3 inhibitor with an initial focus on patients with metastatic urothelial carcinoma of the bladder and urinary tract, and TYRA-200, an FGFR2 inhibitor with an initial focus on patients with intrahepatic cholangiocarcinoma. TYRA remains on track to submit an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA) for TYRA-300 in mid-2022 and for TYRA-200 in the second half of 2022.

Pipeline Progression. TYRA continued to progress its pipeline including programs targeting achondroplasia and other FGFR3-related skeletal dysplasias, REarranged during Transfection kinase (RET) and FGFR4-related cancers.
First Quarter 2022 Financial Results

First quarter 2022 net loss was $14.8 million compared to $4.2 million for the same period in 2021.
First quarter 2022 research and development expense was $9.6 million compared to $3.5 million for the same period in 2021.
First quarter 2022 general and administrative expense was $5.2 million compared to $0.7 million for the same period in 2021.
As of March 31, 2022, TYRA had cash and cash equivalents of $292.5 million.