Opco views BridgeBio data as good news for Tyra Biosciences

Oppenheimer keeps an Outperform rating on Tyra Biosciences (TYRA) after BridgeBio (BBIO) presented Phase 2 data in achondroplasia from its panFGFR inhibitor, infigratinib, one week after Tyra shared its developmental strategy for its own FGFR3-selective inhibitor, TYRA-300. BridgeBio’s infigratinib data appear differentiated from the current standard of care with respect to efficacy, validating the case for a small molecule approach in achondroplasia, the analyst tells investors in a research note. However, the data also appear to "leave some efficacy on the table," with the company opting to cap dose escalation at the current dose, adds the firm. It thinks this limitation could be overcome with a more selective drug like Tyra’s TYRA-300.