Tenaya Therapeutics Q2 net loss widens on impairment charge
TNYA•Outlook
- Company expects to report additional interim data for TN-201 and TN-401 in Q4 2026
- Tenaya plans to provide updates on pivotal trial discussions for TN-201 and TN-401 in Q4 2026
- Company intends to start at least one Phase 2 trial for TN-301 in 2H 2027
Overview
- US heart disease therapy developer's Q2 net loss widened, driven by impairment charge
- Company received $10 mln upfront payment from Alnylam, extending cash runway through Q3 2027
Key details
| Metric | Actual |
|---|---|
| Q2 Net Loss | $43.39 mln |
| Q2 Operating Income | -$44.09 mln |
| Q2 Pretax Loss | $43.39 mln |
| Q2 Loss Per Basic Share | $0.20 |
| Q2 Operating Expenses | $45.2 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell". The average consensus recommendation for the biotechnology & medical research peer group is "buy". Wall Street's median 12-month price target for Tenaya Therapeutics, Inc. is $3.50, about 372% above its August 4 closing price of $0.74.
Result Drivers
- — Co said increase in net loss was mainly due to a $21.8 mln non-cash impairment charge from early termination of manufacturing facility lease
