Tyra Biosciences prices $400M stock offering to fund cancer, achondroplasia push
What's the deal? Tyra Biosciences, a clinical-stage biotech targeting Fibroblast Growth Factor Receptor (FGFR) biology, priced a $400 million underwritten offering of common stock and pre-funded warrants. RA Capital Management led the raise, which is expected to close on September 15, 2026.
The terms: The Carlsbad, California company is selling 9,079,000 shares at $22.03 each, plus pre-funded warrants for a further 9,078,529 shares. Gross proceeds, before fees, should reach about $400 million.
Who's in? Alongside RA Capital, new and existing investors joined, including InvusDealroom has a profile for this one. Try Dealroom →, Commodore CapitalDealroom has a profile for this one. Try Dealroom →, BVF PartnersDealroom has a profile for this one. Try Dealroom →, Janus Henderson Investors, Trails Edge Capital PartnersDealroom has a profile for this one. Try Dealroom →, Integral Health Asset ManagementDealroom has a profile for this one. Try Dealroom →, TCGXDealroom has a profile for this one. Try Dealroom →, and StemPoint Capital LPDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Tyra will combine the proceeds with existing cash to advance its "dabogratinib 3x3" strategy across three indications: low-grade upper tract urothelial carcinoma, intermediate-risk non-muscle invasive bladder cancer, and achondroplasia. The rest covers preclinical work, discovery programs, and general corporate purposes.
The signal: At $400 million, the offering ranks in the top 4% of all US post-IPO equity rounds in healthcare — a sign investors are willing to back precision-medicine biotechs with capital-intensive, multi-indication pipelines.
Read more: morningstar.com
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