Tyra Biosciences shares tumble as bladder cancer pill shows lower-than-expected complete response

Tyra Biosciences presented Phase 2 SURF302 data for its investigational oral drug dabogratinib in patients with low‑grade intermediate‑risk non‑muscle invasive bladder cancer. The trial reported that eight of 14 patients achieved a complete response at three months, a 57% CR rate.

Overall response was 79% with a 21% partial response, but the 57% CR fell below analyst forecasts that anticipated 70%‑80% complete responses.

Safety findings showed two grade 3 treatment‑related adverse events (9% incidence) and no grade 4 or 5 events. The market reacted negatively, with Tyra’s shares dropping roughly 18% to $22.01 at the close.