Tyra Biosciences (TYRA) 2025 Conference Transcript

Summary of Tyra Biosciences (TYRA) 2025 Conference Call Company Overview - Company: Tyra Biosciences (TYRA) - Focus: Development of small molecule precision medicines, particularly targeting FGFR (Fibroblast Growth Factor Receptor) inhibitors, with a lead molecule that is FGFR3 selective [3][4] Key Points and Arguments Platform Differentiation - Tyra utilizes a proprietary Snap Chemistry Design Platform for structure-based drug design, allowing for the creation of selective FGFR3 inhibitors, unlike existing pan FGFR inhibitors [3][4][5] - The FGFR3 selective molecule is the first of its kind to enter clinical trials, showing positive results in Phase 1 studies [5] Unmet Needs in NMIBC - In Non-Muscle Invasive Bladder Cancer (NMIBC), 70-80% of cases have FGFR3 alterations, with high recurrence rates (30% at one year, 40% at two years) under standard treatments [7][8] - Tyra's oral therapy, TYR-300, addresses the need for non-procedure-based treatments, contrasting with existing intra-vesical therapies [8] Safety and Efficacy - Emphasis on safety and tolerability is crucial due to the long treatment duration in MIBC [9][10] - Initial signals of activity will be assessed through complete response rates at three months, with expectations for data release in early next year [11][12] Achondroplasia Treatment - Tyra is also evaluating TYR-300 in achondroplasia, where existing therapies fall short in addressing the height gap compared to non-affected children [14][15] - Current treatments yield limited height increases, while Tyra aims to achieve an annualized height velocity of 8-8.5 cm, significantly higher than existing options [20][30] Competitive Landscape - TYR-300 is differentiated from competitors like Erdafitinib and Loxo in terms of side effect profiles and efficacy [23][24] - TYR-300 shows lower rates of nail toxicity and stomatitis compared to Erdafitinib, and better tolerability than Loxo's BID dosing regimen [23][24] Benchmarks for Success - For NMIBC, achieving a complete response rate of at least 70% with a well-tolerated dose is a key benchmark [28][29] - In achondroplasia, exceeding a height velocity of 6 cm to reach 8-8.5 cm is targeted [30] Financial Position and Prioritization - Tyra is well-capitalized with $318 million available, projected to last through 2027 [31] - Focus on prioritizing cash management and key Phase 2 readouts in NMIBC and achondroplasia while being cautious about entering Phase 3 trials prematurely [32] Additional Important Content - The discussion highlighted the importance of managing cash effectively while pursuing multiple clinical trials across different indications [31][32] - The company is strategically opening more sites for NMIBC and achondroplasia while limiting expansion in other areas to ensure resource allocation aligns with priority programs [32]