TYRATyra Biosciences, Inc.
Pharmaceutical Preparations
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$132M
- 28% YoY
- Market cap
- $1.3B
- Employees
- 740,000
- Net debt / EBITDA
- —
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 13th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$189M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Operating income | −$26M | −$59M | −$80M | −$104M | −$133M | 27% |
| Net income | −$26M | −$55M | −$69M | −$86M | −$120M | 39% |
| Operating cash flow | −$24M | −$50M | −$50M | −$70M | −$95M | 36% |
| Capex | $661K | $559K | $770K | $664K | $141K | 79% |
| Stock-based comp | $3M | $11M | $14M | $23M | $28M | 23% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 17, 2026 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 79.9% | Passive |
| Mar 6, 2026 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 59.9% | Passive |
| Jun 6, 2025 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 61.9% | Passive |
| Mar 31, 2025 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 20.1% | Passive |
| Dec 6, 2024 | Boxer Capital Management, LLC | SC 13D/A | 0.1% | Passive |
| Nov 19, 2024 | Boxer Capital Management, LLC | SC 13D/A | 0.1% | Passive |
| Nov 13, 2024 | RA CAPITAL MANAGEMENT, L.P. | SC 13D/A | 21.1% | Passive |
| Oct 22, 2024 | RA CAPITAL MANAGEMENT, L.P. | SC 13D/A | 20.0% | Passive |
| Oct 22, 2024 | Boxer Capital Management, LLC | SC 13D/A | 0.2% | Passive |
| Oct 15, 2024 | Boxer Asset Management Inc. | SC 13D/A | 0.0% | Passive |
Insider trading
- Open-market buys, 12 mo
- $20K · 1
- Open-market sells, 12 mo
- $11M · 14
- Net
- −$11M
Pay vs performance
No pay-versus-performance disclosure yet.