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Immediate stock decline after a mixed readout (CR below prior expectations) despite strong ORR at target exposure; recalibration risk for the adjuvant path and Phase 3 timing; near-term uncertainty could persist until clearer regulatory/clinical milestones are outlined.
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Tyra Biosciences reported Phase 2 SURF302 results for dabogratinib in FGFR3-altered non-muscle invasive bladder cancer, showing 86% overall response at target exposure in 26 evaluable patients and supporting a 60 mg daily dose for adjuvant studies. Management intends to finish enrolling the 60 mg group, add a 70 mg cohort, and advance Phase 3 discussions with regulators, while SURF303 initial upper tract data showed a 60 mg daily complete response at three months with no adverse events. The stock reacted negatively, underscoring near-term volatility as investors reassess the readout's implications for the registry path.
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