Sep. 8 at 2:42 PM
Piper Sandler reiterated
$TYRA Overweight-Top Pick-
$56 and said -- Dabo IR NMIBC Readout on Wednesday
$CGON $URGN JNJ TARA ENGN IBRX
Piper Sandler added—We remain OW rated on TYRA shares ahead of proof-of-concept data for lead asset dabogratinib (selective FGFR3 inhibitor) in IR NMIBC, which is slated for disclosure the morning of Wednesday, September 9.
As we've discussed previously (see data preview and here), we see the bar for success at this update as a 70% 3-month CR rate with relatively clean safety, which would facilitate advancement into a P3 trial in this setting.
Supported by KOL work, we think an effective oral option would be highly differentiated in IR NMIBC, providing a welcome alternative to procedure-based, intravesical options that are currently offered, and model IR NMIBC (intermediate risk non-muscle invasive bladder cancer) as a >
$1B opportunity for dabogratinib.
TYRA remains one of our 2026 top picks, and we remain buyers into this data event.
