The company operates without meaningful revenue, resulting in a widening net loss that reached $39.3 million in 2026Q1, up from $18.2 million in 2024Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 138K | 0 | 0 | 0 | 0 | 0 | 47K | 8K |
| COGS % of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | -138K | 0 | 0 | 0 | 0 | 0 | -47K | -8K |
| Gross Margin % | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | 100% | -487.5% | - |
| Operating Expenses | 142.77M | 132.76M | 104.18M | 79.94M | 58.93M | 26.29M | 9.25M | 3.12M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 31.48M | 29.83M | 24.1M | 17.43M | 15.92M | 5.65M | 2.09M | 1.33M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - |
| Research & Development | 111.3M | 102.93M | 80.08M | 62.52M | 43.01M | 20.64M | 7.2M | 1.79M |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -23K | -8K |
| Operating Income | -142.91M | -132.76M | -104.18M | -79.94M | -58.93M | -26.29M | -9.3M | -3.12M |
| Operating Margin % | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -27.44% | -30.31% | -35.67% | -124.16% | -182.76% | -197.79% | - |
| EBITDA | -142.37M | -132.22M | -103.66M | -79.59M | -58.63M | -26.15M | -9.25M | -3.11M |
| EBITDA Margin % | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -25.78% | -27.55% | -30.24% | -35.74% | -124.23% | -182.68% | -197.05% | - |
| D&A (Non-Cash Add-back) | 541K | 546K | 519K | 357K | 296K | 140K | 47K | 8K |
| EBIT | -139.83M | -132.76M | -104.18M | -79.94M | -58.93M | -26.29M | -9.34M | -3.12M |
| Net Interest Income | 8.73M | 12.81M | 17.7M | 10.81M | 3.65M | 13K | -999 | -999 |
| Interest Income | 8.73M | 12.81M | 17.7M | 10.81M | 3.65M | 13K | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 1K |
| Other Income/Expense | 11.8M | 12.81M | 17.7M | 10.81M | 3.6M | -6K | -39K | -943K |
| Pretax Income | -131.1M | -119.95M | -86.48M | -69.13M | -55.33M | -26.29M | -9.34M | -4.07M |
| Pretax Margin % | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -131.1M | -119.95M | -86.48M | -69.13M | -55.33M | -26.29M | -9.31M | -4.06M |
| Net Margin % | - | - | - | - | - | - | - | - |
| Net Income Growth % | -35.95% | -38.7% | -25.09% | -24.96% | -110.41% | -182.31% | -129.52% | - |
| Net Income (Continuing) | -131.1M | -119.95M | -86.48M | -69.13M | -55.33M | -26.29M | -9.34M | -4.07M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.12 | -2.01 | -1.51 | -1.62 | -1.23 | -0.63 | -0.22 | -0.10 |
| EPS Growth % | -33.74% | -33.11% | 6.79% | -31.71% | -95.24% | -186.36% | -130.61% | - |
| EPS (Basic) | - | -2.01 | -1.51 | -1.62 | -1.23 | -0.63 | -0.22 | -0.10 |
| Diluted Shares Outstanding | 61.75M | 59.6M | 57.22M | 42.7M | 41.88M | 41.44M | 42.54M | 42.54M |
| Basic Shares Outstanding | 61.75M | 59.6M | 57.22M | 42.7M | 41.88M | 41.44M | 42.54M | 42.54M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Clinical Trial Execution Risk
As reported in recent financial statements, TYRA's quarterly R&D expenditures have climbed to $33.3 million in 2026Q1, reflecting a consistent upward trend in clinical trial investment that significantly outpaces the company's historical spending levels observed throughout the 2024 fiscal year and early 2025 periods.
The steady rise in R&D spending suggests an intensification of clinical activities, specifically the SURF301 trial, which necessitates higher third-party costs. Investors should monitor whether this expense trajectory remains sustainable given the absence of commercial revenue to offset these mounting operational outflows.
Based on the provided income statement data, TYRA continues to operate without revenue, resulting in a net loss of $39.3 million for 2026Q1, which highlights the company's total reliance on external capital to fund its ongoing research and development initiatives and administrative overhead.
The lack of revenue generation means that operating leverage cannot be assessed in a traditional sense, as every dollar of R&D and SG&A directly expands the net loss. This structure implies that the company's financial health is entirely decoupled from operational efficiency and tethered to clinical milestones.
According to the company's quarterly filings, stock-based compensation has reached $7.8 million as of 2026Q1, representing a significant non-cash expense that complicates the interpretation of the underlying net loss and highlights the reliance on equity-based incentives to attract and retain specialized scientific talent.
While these expenses are non-cash, they represent a meaningful dilution risk for shareholders that warrants further investigation. The consistent presence of these charges suggests that management is prioritizing human capital retention, which may be necessary for the SNAP platform's success but adds to the total cost of operations.
As indicated by the income statement, the company's net loss has widened from $18.2 million in 2024Q1 to $39.3 million in 2026Q1, raising questions about the long-term viability of the current funding model in the absence of near-term commercialization or partnership-driven revenue streams.
Short-sellers may focus on the accelerating burn rate as a primary risk factor, particularly if clinical data readouts fail to meet the high efficacy bars set by competitors. The reliance on capital markets for survival suggests that any delay in the SURF301 trial could lead to significant liquidity pressure.
Quick answers to the most common questions about buying TYRA stock.
For fiscal year 2025, Tyra Biosciences, Inc. (TYRA) reported total revenue of $0.0M.
Tyra Biosciences, Inc. (TYRA) reported a net loss of $119.9M for the fiscal year ending 2025.