Tyra Biosciences, Inc. (NASDAQ: TYRA)

Sector: Healthcare Industry: Biotechnology CIK: 0001863127
Market Cap 1.81 Bn
P/B 6.46
P/E -16.23
P/S 0.00
ROIC (Qtr) -42.38
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 5.92 Mn
Debt/Equity (Qtr) 0.02

About

Tyra Biosciences, Inc., a clinical-stage biotechnology company, is dedicated to developing next-generation precision medicines targeting Fibroblast Growth Factor Receptor (FGFR) biology. The company's stock symbol is TYRA. Tyra Biosciences operates in the biotechnology industry, with a focus on creating innovative solutions for patients. The company's main business activities revolve around the development of cutting-edge, oral FGFR inhibitors. Tyra Biosciences is currently working on two product candidates: TYRA-300 and TYRA-200. TYRA-300 is a...

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Price action

Investment thesis

Bull case

  • Healthy cash reserves of 62.95M provide 138.05x coverage of short-term debt 456000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 301.85M provides 51x coverage of total debt 5.92M, indicating robust asset backing and low credit risk.
  • Short-term investments of 212.97M provide solid 15.86x coverage of other current liabilities 13.43M, indicating strong liquidity.
  • Tangible assets of 301.85M provide robust 22.47x coverage of other current liabilities 13.43M, indicating strong asset backing.
  • Cash reserves of 62.95M provide robust 3.96x coverage of current liabilities 15.88M, indicating strong short-term solvency.

Bear case

  • Operating cash flow of (91.11M) barely covers its investment activities of 45.04M, with a coverage ratio of -2.02, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of 45.04M provide weak support for R&D spending of 96.92M, which is 0.46x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Short-term investments of 212.97M significantly exceed cash reserves of 62.95M, which is 3.38x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • The company's operating cash flow of (91.11M) shows concerning coverage of stock compensation expenses of 27.08M, with a -3.36 ratio indicating potential earnings quality issues.
  • Free cash flow of (91.20M) provides weak coverage of capital expenditures of 90000, with a -1013.31 ratio suggesting additional external financing needs for growth initiatives.

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,446.17 Bn -1,569.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 439.23 Bn 6,407.40 88.33 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 120.62 Bn 32.82 10.29 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 84.40 Bn 18.44 5.92 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 56.13 Bn 1,288.39 17.49 3.21 Bn
6 ARGX Argenx Se 47.89 Bn 31.79 24,973.95 -
7 BNTC Benitec Biopharma Inc. 42.45 Bn -1,015.00 0.00 0.00 Bn
8 INSM INSMED Inc 32.67 Bn -27.60 73.08 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 5.70 12.96
EV to Cash from Ops. EV/CFO -18.87 23.73
EV to Debt EV to Debt 290.45 772.65
EV to EBIT EV/EBIT -15.39 -11.30
EV to EBITDA EV/EBITDA -13.71 7.11
EV to Free Cash Flow [EV/FCF] EV/FCF -18.85 22.12
EV to Market Cap EV to Market Cap 0.95 68.89
EV to Revenue EV to Revenue 0.00 199.70
Price to Book Value [P/B] P/B 6.46 22.62
Price to Earnings [P/E] P/E -16.23 -12.30
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.02
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.15
Interest Coverage Interest Coverage 0.00 857.11
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 92.86 -27.24
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -39.98 747.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -33.37 -48.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -25.92 -2.09
EBIT Growth (1y) % EBIT 1y % (Qtr) -33.37 -57.79
EBT Growth (1y) % EBT 1y % (Qtr) -33.37 -14.35
EPS Growth (1y) % EPS 1y % (Qtr) -16.15 -30.88
FCF Growth (1y) % FCF 1y % (Qtr) -40.35 -32.51
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 0.00 227.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 3.96 3.79
Current Ratio Curr Ratio (Qtr) 17.71 7.23
Debt to Equity Ratio Debt/Equity (Qtr) 0.02 0.42
Interest Cover Ratio Interest Cover Ratio 0.00 857.11
Times Interest Earned Times Interest Earned 0.00 857.11
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 -18,509.94
EBIT Margin % EBIT Margin % 0.00 -18,862.18
EBT Margin % EBT Margin % 0.00 -19,783.19
Gross Margin % Gross Margin % 0.00 -8.62
Net Profit Margin % Net Profit Margin % 0.00 -19,732.60