On March 3, 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 and year ended December 31, 2021 and highlighted recent corporate progress (Press release, Tyra Biosciences, MAR 3, 2022, View Source [SID1234609457]).

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"2021 was an important year of growth for TYRA and the progress we made has positioned us well for a meaningful 2022," said Todd Harris, CEO of TYRA. "We remain focused on execution across our pipeline and expect to submit Investigational New Drug Applications (INDs) to the U.S. Food and Drug Administration (FDA) this year for TYRA-300 and TYRA-200. In addition, we continue to advance our SNÅP chemistry platform with the goal to expand our pipeline through the nomination of clinical candidates from our FGFR3-related skeletal dysplasia, RET and FGFR4 programs."

Fourth Quarter 2021 and Recent Corporate Highlights

INDs for TYRA-300 and TYRA-200 on Track. During the fourth quarter of 2021, 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 IND with the U.S. FDA for TYRA-300 in mid-2022 and for TYRA-200 in the second half of 2022.
Strengthened Clinical Team with Key Hire. During the fourth quarter of 2021, TYRA made the key senior appointment to its clinical team of Allison Kemner as Vice President, Clinical Sciences and Operations.
TYRA Added to Russell 2000 Index. On December 20, 2021, TYRA was added to the Russell 2000 Index as part of the index’s recent initial public offering additions. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell indexes are part of FTSE Russell, a leading global index provider.
Fourth Quarter and Full-Year 2021 Financial Results

Fourth quarter 2021 net loss was $9.9 million compared to $3.7 million for 2020.
Fourth quarter 2021 research and development expense was $7.2 million compared to $2.9 million for 2020.
Fourth quarter general and administrative expense was $2.7 million for 2021 compared to $0.8 million for 2020.
Full year 2021 net loss was $26.3 million compared to $9.3 million for 2020.
Full year 2021 research and development expense was $20.6 million compared to $7.2 million for 2020.
Full year 2021 general and administrative expense was $5.7 million compared to $2.1 million for 2020.
As of December 31, 2021, TYRA had cash and cash equivalents of $302.2 million.