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TNYA

Tenaya Therapeutics, Inc.

TNYA

Tenaya Therapeutics, Inc. • NASDAQ
$1.40 ▲ 2.94% (+0.04)
Market Cap $233.11 M
52w High $4.01
52w Low $0.36
Dividend Yield 0%
P/E -1.87
Volume 1.38M
Outstanding Shares 166.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $19.072M ▼ $-20.275M ▲ 0% $-0.12 ▲ $-18.411M ▲
Q2-2025 $0 $21.998M ▼ $-23.283M ▲ 0% $-0.14 ▲ $-21.199M ▲
Q1-2025 $0 $27.538M ▲ $-26.864M ▼ 0% $-0.24 ▲ $-24.877M ▼
Q4-2024 $0 $24.652M ▼ $-23.836M ▲ 0% $-0.28 ▲ $-22.563M ▲
Q3-2024 $0 $26.711M $-25.634M 0% $-0.3 $-24.61M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $56.312M ▼ $104.98M ▼ $22.112M ▼ $82.868M ▼
Q2-2025 $71.667M ▼ $122.151M ▼ $22.323M ▼ $99.828M ▼
Q1-2025 $88.158M ▲ $143.952M ▲ $24.556M ▼ $119.396M ▲
Q4-2024 $61.446M ▼ $119.94M ▼ $27.086M ▼ $92.854M ▼
Q3-2024 $79.469M $140.582M $27.98M $112.602M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-20.275M ▲ $-15.599M ▲ $8.86M ▼ $380K ▲ $-6.359M ▼ $-15.625M ▲
Q2-2025 $-23.283M ▲ $-15.613M ▲ $24.988M ▲ $-476K ▼ $8.899M ▼ $-15.755M ▲
Q1-2025 $-26.864M ▼ $-23.112M ▼ $22.302M ▲ $50.259M ▲ $49.449M ▲ $-23.495M ▼
Q4-2024 $-23.836M ▲ $-18.388M ▲ $14.103M ▲ $377K ▲ $-3.908M ▲ $-18.592M ▲
Q3-2024 $-25.634M $-19.836M $-30.098M $31K $-49.903M $-20.02M

Five-Year Company Overview

Income Statement

Income Statement Tenaya is still a classic early-stage biotech story on the income side: no product revenue yet and steady, meaningful losses each year. The spending pattern suggests most costs are going into research, clinical development, and building capabilities rather than into sales or manufacturing for commercial products. Losses have widened as the company advanced more programs and built out its infrastructure, which is normal for a clinical-stage platform company but means profitability is not in sight until and unless one or more programs eventually reach market approval.

Balance Sheet

Balance Sheet The balance sheet shows a company that once had a sizable cash and asset base that has been gradually drawn down as development spending continued. Shareholders’ equity has stayed positive in recent years, which is a sign the company has been funding itself more through equity than through heavy borrowing; debt remains present but modest relative to total assets. The separate commentary that cash runway extends into the second half of 2026 is important: it suggests some breathing room, but given the capital intensity of gene therapy and cell-based platforms, future capital raises remain a key ongoing risk factor.

Cash Flow

Cash Flow Cash flows reflect what you’d expect from a pre-revenue biotech: consistent cash outflows from operations and negative free cash flow as the company funds trials, platform work, and some equipment and facility needs. Capital spending itself does not appear excessive, but the recurring research and clinical expenses create a persistent cash burn. The business model at this stage depends on external funding—equity, partnerships, or other sources—until clinical milestones are achieved that could change the cash profile, which is uncertain and likely several years away.

Competitive Edge

Competitive Edge Tenaya is trying to build a differentiated position in cardiovascular disease by combining three major approaches: gene therapy, cellular regeneration, and precision small-molecule drugs. This focus on genetic forms of heart disease and the use of advanced tools like engineered viral vectors and stem-cell-based models give it a specialized, hard-to-replicate skill set. In-house manufacturing capability for gene therapies is another meaningful advantage because it can reduce reliance on third parties. The flip side is that cardiovascular gene therapy is a high-profile, competitive field with large pharma and other biotechs pursuing overlapping targets, and any safety issues or weaker-than-hoped data could quickly erode perceived competitive strength.

Innovation and R&D

Innovation and R&D R&D is clearly the core of Tenaya’s identity and value. The pipeline spans gene therapies for genetically driven cardiomyopathies and a targeted small molecule for a major form of heart failure, all supported by proprietary tools such as capsid engineering and machine-learning-driven target discovery. This platform approach can create multiple shots on goal from shared technology and know-how. However, these programs are early to mid clinical stage, and gene therapy carries scientific, regulatory, and manufacturing risks that can be higher than for traditional drugs. Key readouts over the next couple of years, especially for the lead gene therapy programs, are likely to strongly influence perceptions of how robust the underlying science really is.

Summary

Overall, Tenaya is a science-heavy, pre-commercial biotech with significant promise in a large, underserved area—genetic and advanced forms of heart disease—but also all the usual uncertainties of early-stage drug development. Financially, it is still in the investment phase, with no revenue and ongoing losses funded primarily by cash reserves and past financings. The company has built what appears to be a real technological and operational moat in cardiovascular gene therapy and related modalities, highlighted by its integrated platforms and in-house manufacturing. At the same time, the story hinges on future clinical data and continued access to capital; until key trials read out and a clearer regulatory path emerges, both the upside potential and the downside risk remain high and difficult to quantify.

NEWS

November 8, 2025 · 11:25 AM UTC

Tenaya Therapeutics Presents Promising Interim Clinical Data from MYPEAK™-1 Phase 1b/2a Clinical Trial of TN-201 Gene Therapy for the Treatment of MYBPC3-Associated Hypertrophic Cardiomyopathy

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November 4, 2025 · 5:30 PM UTC

Tenaya Therapeutics Announces New Clinical Data for TN-201 Gene Therapy will be Featured in Late-Breaking Presentation at the American Heart Association Scientific Sessions 2025

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October 9, 2025 · 4:05 PM UTC

Tenaya Therapeutics to Participate in H.C. Wainwright Genetic Medicines Virtual Conference

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October 2, 2025 · 4:05 PM UTC

Tenaya Therapeutics to Participate in Upcoming October Investor Conferences

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September 18, 2025 · 4:05 PM UTC

Tenaya Therapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

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