Quarterly ResultMay 6, 2026, 04:20 PM
Tenaya Therapeutics Q1 Net Loss Narrows to $19.3M; Key Clinical Data Expected
AI Summary
Tenaya Therapeutics reported a reduced net loss of $19.3 million for Q1 2026, down from $26.9 million in Q1 2025, with R&D and G&A expenses also decreasing. The company announced upcoming presentations of one-year data for TN-401 and initial data for TN-201 gene therapies, alongside positive preclinical data for TN-301 in Duchenne muscular dystrophy. A new research collaboration with Alnylam Pharmaceuticals, including a $10.0 million upfront payment, extends the cash runway into the second half of 2027.
Key Highlights
- Net loss for Q1 2026 narrowed to $19.3 million, down from $26.9 million in Q1 2025.
- Net loss per share improved to $0.09 in Q1 2026 from $0.24 in Q1 2025.
- Research and development expenses decreased to $14.8 million in Q1 2026 from $21.1 million in Q1 2025.
- Cash and cash equivalents were $80.9 million as of March 31, 2026.
- Received a $10.0 million upfront payment from the Alnylam collaboration, extending cash runway into H2 2027.
- One-year Cohort 1 and initial Cohort 2 data for TN-401 gene therapy expected at ASGCT on May 15, 2026.
- Interim MyPEAK-1 data for TN-201 Cohort 2 and updates from Cohort 1 expected in Q2 2026.
- TN-301 granted Rare Pediatric Disease and Orphan Drug Designations for Duchenne muscular dystrophy by FDA.