Tyra Biosciences’ bladder cancer pill misses expected response rate in Phase 2 trial

Shares of Tyra Biosciences dropped about 20% after data from its Phase 2 study of a bladder cancer pill fell short of market expectations.

The experimental drug, dabogratinib, is taken daily and targets tumors driven by FGFR3 mutations that have not spread beyond the bladder. After three months of treatment, 57% of patients showed no visible disease, well below the company’s goal of a 70% complete response rate.

Tyra hopes the oral therapy could offer a less invasive alternative to recently approved options such as Zusduri and Johnson & Johnson’s Inlexzo device. Some analysts note that the company may still achieve stronger results in later‑stage trials despite the current setback.