TNYANasdaqBiological Products, (No Diagnostic Substances)US GAAP · USD

Tenaya Therapeutics, Inc.

Tenaya Therapeutics is a U.S.-based clinical-stage biotechnology company focused on discovering and developing therapies for heart disease. Its pipeline includes gene therapies and small molecules built around human genetics, with programs aimed at both rare inherited cardiomyopathies and more prevalent cardiovascular conditions.

Liikevoitto (EBIT)−93,3milj. USD
+19,5 %v/v
Nettotulos−90,6milj. USD
+18,5 %v/v
Vapaa kassavirta−68,9milj. USD
+24,7 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−150−100−500milj. USD2020: EBIT −39 milj. USD20202021: EBIT −73 milj. USD20212022: EBIT −126 milj. USD20222023: EBIT −131 milj. USD20232024: EBIT −116 milj. USD20242025: EBIT −93 milj. USD2025−93
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Clinical-stage gene therapies0 %

AAV-based therapies designed to address inherited heart disease at the genetic level.

Small-molecule cardiovascular therapy0 %

Oral or systemic drug candidates targeting heart failure and related indications.

Preclinical discovery programs0 %

Earlier-stage programs using gene addition, editing, silencing and regeneration approaches.

Manufacturing and process development capabilities0 %

Internal and partnered capabilities for AAV process development, QC and clinical supply.

Asiakkaat

Tenaya does not sell commercial products today; its near-term customers are clinical trial participants, investigators, hospitals and research sites that support development of its product candidates. If approved, its therapies would be used by cardiologists and specialty centers treating patients with inherited cardiomyopathies, arrhythmogenic disease and heart failure. In a commercial setting, reimbursement decisions by payors and treatment adoption by physicians would be critical to uptake.

Clinical trial participants

Patients enrolled in MyPEAK-1, RIDGE-1 and other studies to evaluate safety and activity.

Clinical investigators and trial sites

Hospitals, academic centers and investigators that administer and monitor studies.

Specialty cardiology practices

Potential future prescribers for approved therapies in inherited cardiomyopathy and HFpEF.

Third-party payors

Commercial and government payors that would determine reimbursement and access.

Strategic pharmaceutical partners

Potential collaborators for late-stage development and commercialization of TN-301 and other assets.

Strategia

Tenaya’s strategy is to build disease-modifying therapies for heart disease using human genetics, AAV gene therapy and complementary small-molecule approaches. It is prioritizing clinical data generation for lead programs, internal and partnered manufacturing capabilities, and selective partnering for larger indications where global commercialization resources matter.

Generate clinical data for lead programsLyhyt aikaväli

Clinical readouts are needed to validate the platform and support regulatory advancement.

Preserve and extend cash runwayLyhyt aikaväli

Development-stage biotech requires capital to fund trials, manufacturing and regulatory work.

Build commercial and manufacturing readinessKeskipitkä aikaväli

Gene therapies require reliable AAV supply, quality control and scale-up capability.

Pursue strategic partnering for larger indicationsKeskipitkä aikaväli

Broader diseases such as HFpEF may require global resources for late-stage development and launch.

Maantiede

Tenaya is headquartered in South San Francisco, California and incorporated in Delaware, with operations centered in the United States. Its development, manufacturing and clinical activities are primarily U.S.-based, while future commercialization and regulatory filings could extend to Europe and other foreign markets through partners or direct approvals.

Riskit

Tenaya faces the typical risks of a clinical-stage biotech company: uncertain trial outcomes, regulatory approval risk, dependence on third parties and the need for substantial future capital. Its gene-therapy focus also adds manufacturing, quality and intellectual-property complexity, while commercial success would depend on physician adoption and payor reimbursement.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Clinical development failure1Capital dependence2Regulatory approval risk3Manufacturing and supply chain execution4Intellectual property competition5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Clinical development failureVaikutus: KorkeaTodennäköisyys: Korkea

    Lead programs may not demonstrate sufficient safety or efficacy to advance.

    KohdistuuTN-201TN-401TN-301
  2. Capital dependenceVaikutus: KorkeaTodennäköisyys: Korkea

    The company has not generated product revenue and relies on external financing.

    Kohdistuu: Corporate funding and trial execution

  3. Regulatory approval riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Gene and small-molecule candidates require lengthy, uncertain FDA and foreign review.

    Kohdistuu: All pipeline programs

  4. Manufacturing and supply chain executionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    AAV therapies require consistent process control, quality and supply availability.

    Kohdistuu: Clinical and future commercial supply

  5. Intellectual property competitionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Competing therapies and patent challenges could reduce the value of the pipeline.

    KohdistuuHCMARVCHFpEF programs

Kirjanpito

Harkinnanvaraiset erät
Research and development expense accruals

Clinical and preclinical vendor costs are estimated before final invoices arrive, affecting period expense.

Vaikutus: Can create quarter-to-quarter volatility in operating loss

Stock-based compensation

Equity awards to employees and directors are a significant non-cash cost in development-stage biotech.

Vaikutus: Affects reported operating expenses and loss per share

Fair value of marketable securities

Cash invested in securities must be marked and classified appropriately, affecting interest income and OCI.

Vaikutus: Can influence liquidity presentation and non-operating results

Clinical trial and manufacturing commitments

Contractual obligations and accrual estimates affect liabilities and future cash needs.

Vaikutus: Important for assessing runway and spending cadence

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026

Tenaya Therapeutics, Inc. (Nasdaq) – Biological Products, (No Diagnostic Subs | Analyysi – Clarifo