Tenaya Therapeutics, Inc.

Tenaya Therapeutics reported a net loss of $43.4 million for the second quarter of 2026, significantly impacted by a $21.8 million impairment loss and a $1.4 million loss on lease termination related to its Genetic Medicine Manufacturing Center. Despite these charges, the company recognized $1.1 million in collaboration revenue from a new agreement with Alnylam Pharmaceuticals, which also offers potential future milestone payments up to $1.1 billion. As of June 30, 2026, Tenaya held $78.1 million in cash and cash equivalents, with management projecting sufficient liquidity for at least the next twelve months.

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.

Tenaya Therapeutics Inc. announced the appointment of Eric Hyllengren as its new Chief Financial Officer. In connection with his employment, Mr. Hyllengren was granted stock options to purchase 1,650,000 shares of Tenaya common stock. Additionally, two new non-executive employees received options for an aggregate of 187,200 shares. These inducement grants have an exercise price of $0.8365 per share and vest over a four-year period.

Tenaya Therapeutics, Inc. has entered into a Lease Termination Agreement for its 94,046 square foot Genetic Medicines Manufacturing Center in Union City, California. The facility was decommissioned in 2025 to reduce costs, and the lease, originally set to expire in July 2031, will now terminate on August 31, 2026. As consideration, the company will forfeit its $1,750,000 security deposit and pay a one-time lease termination fee of approximately $294,200. This move allows Tenaya to transfer its AAV manufacturing process to a contract development manufacturing organization.

Tenaya Therapeutics announced the appointment of Eric Hyllengren as its new Chief Financial Officer, effective July 13, 2026. Mr. Hyllengren brings over two decades of experience in biotechnology finance, capital markets, and corporate strategy, having previously served as CFO at Zura Bio and Atara Biotherapeutics. In his new role, he will oversee financial strategy, capital allocation, investor relations, and corporate development. Concurrently, Hiro Higa, Senior Vice President, Finance, will retire in the third quarter of 2026 but will remain as a consultant to ensure a smooth transition.

Tenaya Therapeutics reported positive interim safety and efficacy data from its MyPEAK-1 Phase 1b/2 clinical trial of TN-201 for MYBPC3-associated hypertrophic cardiomyopathy (HCM). All evaluable patients demonstrated improvements in multiple clinical parameters, including echocardiographic measures of hypertrophy and symptom burden, with higher doses showing earlier and more substantial changes. Additionally, TN-201 received PRIME designation from the EMA and was accepted into the FDA's Rare Disease Evidence Principles process for pediatric HCM.

Tenaya Therapeutics announced it will report new interim data from Cohort 1 and Cohort 2 of its MyPEAK™-1 Phase 1b/2 trial for TN-201 gene therapy on Wednesday, June 3, 2026. The data, concerning adults with MYBPC3-associated hypertrophic cardiomyopathy (HCM), will be reviewed during a live webcast. TN-201, designed to address the underlying genetic cause of HCM, has received Fast Track, Orphan Drug, and Rare Pediatric Drug Designations from the U.S. FDA, and orphan medicinal product status from the European Commission.

Tenaya Therapeutics, Inc. stockholders approved the Amended and Restated 2021 Equity Incentive Plan at the Annual Meeting on May 27, 2026. This plan includes a one-time increase of 6,509,966 shares (approximately 3% of outstanding shares) reserved for issuance and modifies the annual evergreen provision. Additionally, stockholders elected three Class II Directors and ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.

Tenaya Therapeutics, Inc. announced that its executive team will participate in the upcoming Jefferies Global Healthcare Conference from June 2-4, 2026, in New York. Faraz Ali, CEO, is scheduled to deliver a company presentation on Thursday, June 4, 2026, at 3:10 p.m. ET. A live webcast and an archived replay will be available on the company's website.

Tenaya Therapeutics presented positive interim data from its RIDGE-1 Phase 1b/2 clinical trial of TN-401 gene therapy for arrhythmogenic right ventricular cardiomyopathy (ARVC). All six patients treated with TN-401 showed meaningful reductions (mean 64%) in premature ventricular contractions (PVCs), and the therapy was well tolerated at both dose levels. Post-dose biopsies confirmed TN-401 activity in heart muscle cells, and the European Medicines Agency (EMA) granted TN-401 PRIority MEdicine (PRIME) designation.