Canaccord starts Tyra Biosciences at Buy into 2026 data readouts

Canaccord initiated coverage of Tyra Biosciences (TYRA) with a Buy rating and $50 price target The company is developing isoform selective FGFR inhibitors with multiple key Phase 2 data readouts for its lead asset dabogratinib expected in 2026, the analyst tells investors in a research note. The firm believes dabogratinib has the clinical efficacy of its predecessors in metastatic urothelial carcinoma while avoiding the toxicity that prevented their approval in broader indications. This “unique profile” gives dabogratinib a shot at becoming standard of care in low-grade upper tract urothelial carcinoma, low-grade intermediate risk non-muscle invasive bladder cancer, and achondroplasia, contends Canaccord.