Form 4: Boxer Capital Exchanges Tyra Biosciences Shares for Pre-Funded Warrant

Boxer Capital Management, LLC exchanged 2,000,000 shares of Tyra Biosciences common stock for a pre-funded warrant to purchase the same number of shares.

Summary

• Boxer Capital, LLC exchanged 2,000,000 shares of Tyra Biosciences common stock for a pre-funded warrant to purchase up to 2,000,000 shares of common stock on October 18, 2024.
• The pre-funded warrant was issued on October 22, 2024.
• Boxer Capital Management, LLC, as the investment manager of Boxer, indirectly beneficially owns these securities.
• The pre-funded warrant has no expiration date and is exercisable at any time after issuance, subject to a 9.99% ownership limitation.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard financial transaction (share exchange for a warrant) with no explicit positive or negative implications.

Positives

• The pre-funded warrant provides Boxer Capital with continued potential upside in Tyra Biosciences.
• Tyra Biosciences receives capital upfront in exchange for the warrant.

Risks

• The exercise of the pre-funded warrant is subject to a 9.99% ownership limitation, which could restrict Boxer Capital's ability to fully realize the potential benefit of the warrant.
• The value of the pre-funded warrant is dependent on the future performance of Tyra Biosciences' common stock.

Future Outlook

The document does not contain specific forward-looking statements regarding Tyra Biosciences' future performance, but the pre-funded warrant suggests continued interest from Boxer Capital in the company's prospects.

Industry Context

This transaction reflects ongoing investment activity in the biotechnology sector, where companies often utilize warrants and other financial instruments to manage capital and incentivize investment.

Stakeholder Impact

• Shareholders may see this as a neutral event, as it doesn't directly dilute existing shares but provides potential for future dilution upon warrant exercise.
• The company gains some capital flexibility.

Key Dates