Quarterly ResultAug 5, 2026, 04:19 PM
Tenaya Therapeutics Q2 Net Loss $43.4M; Positive Clinical Data
AI Summary
Tenaya Therapeutics reported a net loss of $43.4 million, or $0.20 per share, for the second quarter of 2026, primarily due to a $21.8 million non-cash impairment charge from a lease termination. Despite the increased loss, the company announced positive interim data from its MyPEAK-1 (TN-201) and RIDGE-1 (TN-401) clinical trials, showing meaningful improvements in key disease characteristics. An upfront payment of $10 million from the Alnylam collaboration has extended the company's cash runway through Q3 2027, supporting ongoing clinical advancements and the planned Phase 2 trial for TN-301.
Key Highlights
- Net loss for Q2 2026 was $43.4 million, compared to $23.3 million in Q2 2025.
- Net loss per share was $0.20 for Q2 2026, up from $0.14 in Q2 2025.
- Q2 2026 R&D expenses were $16.6 million; G&A expenses were $5.4 million.
- Reported $21.8 million non-cash impairment charge from GMMC lease termination.
- Cash and cash equivalents totaled $78.1 million as of June 30, 2026.
- Cash runway extended through Q3 2027, aided by $10 million Alnylam payment.
- Positive interim data shared for TN-201 (MyPEAK-1) and TN-401 (RIDGE-1) clinical trials.
- TN-301 advancing toward Phase 2 trial start in the second half of 2027.
Price Impact
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