Tyra Biosciences (TYRA) 10% Owner RA Capital Buys 9.08M Shares

What Happened
RA Capital Management, L.P. (a reported 10% holder) acquired 9,078,529 pre‑funded warrants/derivative interests in Tyra Biosciences on September 15, 2026 at $22.03 per unit, for a total reported consideration of $199,990,915. The filing records this as a purchase (transaction code P) of a derivative instrument that is exercisable into common stock.

Key Details

• Transaction date and price: 2026-09-15, 9,078,529 units at $22.03 each; total $199,990,915.
• Instrument: Pre‑funded warrants / derivative (acquired, exercisable immediately per footnote).
• Exercise limits: Footnote states the pre‑funded warrants have no expiration and are immediately exercisable, but RA Capital and affiliates may not exercise to the extent it would cause their ownership to exceed 19.99% of outstanding common stock.
• Ownership/holding: The securities were held directly by RA Capital Healthcare Fund, L.P. (the Fund) per the filing; RA Capital acts as investment manager and disclaims beneficial ownership except to the extent of pecuniary interest. Exact post‑transaction shares beneficially owned are not specified in the excerpt.
• Filing: Form 4 filed 2026-09-17 reporting the 9/15/2026 acquisition.
• Remark: Jake Simson, a Partner of the Adviser, serves on Tyra’s board of directors.

Context
This was an institutional purchase by a 10% holder via pre‑funded warrants (a derivative that can be converted into one share each). For retail investors, purchases by large institutional holders can be noteworthy, but the filing also shows standard adviser disclosure and an ownership cap (19.99%), and does not by itself explain the investment rationale.