Tyra Biosciences (TYRA) Piper Sandler 36th Annual Healthcare Conference summary

Company overview and scientific focus

• Focuses on small molecule precision medicines, initially targeting the FGFR family, especially FGFR3, to address unmet needs in bladder cancer and skeletal dysplasias like achondroplasia.

• Developed FGFR3-selective inhibitors to improve safety and efficacy over pan-FGFR inhibitors, which cause significant side effects by targeting multiple FGFR isoforms.

• Pipeline includes FGFR2-focused TYRA-200 and a hepatocellular carcinoma drug targeting FGFR3/4, both advancing toward clinical trials.

Platform differentiation and drug design

• Utilizes the SNAP chemistry platform, enabling rapid, iterative structure-based drug design with in-house crystallography and cell-based assays.

• Achieves fast turnaround for co-crystal structures, accelerating drug optimization and selectivity for FGFR3.

• In-house teams for cell-based and in vivo assays allow for efficient, targeted development cycles.

Market landscape and unmet needs

• Current pan-FGFR inhibitors, like erdafitinib, show efficacy but are limited by high toxicity, leading to frequent dose reductions and side effects such as nail toxicity, stomatitis, and hyperphosphatemia.

• The market for intermediate/high-risk non-muscle invasive bladder cancer (NMIBC) is significant, but existing therapies are hampered by tolerability issues.

• A well-tolerated, systemic oral therapy for NMIBC remains a major unmet need.