Tyra Biosciences Prices $400 Million Equity Offering to Fund Dabogratinib Development
Tyra Biosciences (TYRA) has priced a public equity offering expected to generate approximately $400 million in gross proceeds. The company plans to use the funds primarily for the development of its lead drug candidate, dabogratinib, an oral tyrosine kinase inhibitor being studied for various cancers and fibrotic diseases. The offering includes 9,079,000 shares of common stock at $22.03 per share, with some investors receiving pre-funded warrants instead of additional shares. The transaction is underwritten by a group of investment banks and reflects investor confidence in Tyra’s pipeline and its potential to advance dabogratinib through clinical trials. The capital raise underscores the company's strategic focus on advancing its therapeutic candidates while strengthening its financial position for future growth.
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