Tenaya Therapeutics, Inc.
- Open
- 0.81
- Day high
- 0.83
- Day low
- 0.79
- Prev close
- 0.84
- Volume
- 1.5M
- Mkt cap
- $177M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.7
- P/S
- 787.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Tenaya Therapeutics, Inc. (TNYA) is a Healthcare company listed on NASDAQ. The stock is down 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Tenaya Therapeutics, Inc. (TNYA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TNYA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.09 | $-0.09 | +0.0% | $225000 | -97.0% |
| Mar 11, 2026 | $-0.12 | $-0.12 | +0.9% | — | — |
| Aug 6, 2025 | $-0.20 | $-0.14 | +30.0% | — | — |
| Mar 10, 2025 | $-0.31 | $-0.28 | +9.7% | — | — |
| Mar 18, 2024 | $-0.45 | $-0.40 | +11.1% | $18M | — |
| Mar 8, 2023 | $-0.66 | $-0.61 | +7.6% | — | — |
| Nov 10, 2022 | $-0.64 | $-0.74 | -15.6% | — | — |
| Aug 10, 2022 | $-0.75 | $-0.69 | +8.0% | — | — |
| Mar 23, 2022 | $-0.57 | $-0.63 | -10.5% | — | — |
| Nov 10, 2021 | $-0.81 | $-0.68 | +16.0% | — | — |
| Sep 8, 2021 | $-7.17 | $-13.26 | -84.9% | — | — |
| Dec 31, 2020 | — | $-0.38 | — | — | — |
TNYA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | Walsh Jeffrey T.director | Grant | 120,000 | $0.80 |
| May 29, 2026 | Srivastava Deepakdirector | Grant | 120,000 | $0.80 |
| May 29, 2026 | Stehman-Breen Catherinedirector | Grant | 120,000 | $0.80 |
| May 29, 2026 | Parschauer Karah Herdmandirector | Grant | 120,000 | $0.80 |
| May 29, 2026 | Lee Junedirector | Grant | 120,000 | $0.80 |
| May 29, 2026 | Burroughs Amy L.director | Grant | 120,000 | $0.80 |
| May 29, 2026 | Williams R Sandersdirector | Grant | 120,000 | $0.80 |
| May 19, 2026 | Ali Farazdirector, officer: Chief Executive Officer | Sell | 3,390 | $0.79 |
| May 19, 2026 | Tingley Whittemoreofficer: Chief Medical Officer | Sell | 3,121 | $0.79 |
| May 19, 2026 | Higa Tomohiroofficer: SVP, Finance | Sell | 1,485 | $0.79 |
| Feb 26, 2026 | COLUMN GROUP III GP, LP10 percent owner | Sell | 309,228 | $0.62 |
| Feb 26, 2026 | COLUMN GROUP III GP, LP10 percent owner | Sell | 349,212 | $0.62 |
| Feb 26, 2026 | COLUMN GROUP III GP, LP10 percent owner | Sell | 1,862,545 | $0.56 |
| Feb 24, 2026 | COLUMN GROUP III GP, LP10 percent owner | Sell | 162,291 | $0.60 |
| Feb 24, 2026 | COLUMN GROUP III GP, LP10 percent owner | Sell | 277,769 | $0.61 |
Source: TNYA SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full TNYA insider & 13F page →Tenaya Therapeutics, Inc. company profile
Overview
Tenaya Therapeutics, Inc. (NASDAQ:TNYA) is a biotechnology company founded in 2016 and headquartered in South San Francisco, California. The company went public in July 2021 and focuses on developing innovative therapies for heart disease through three distinct technological platforms: cellular regeneration, gene therapy, and precision medicine. Since its inception, Tenaya has been dedicated to addressing the significant unmet medical needs in cardiovascular medicine, particularly targeting genetic forms of heart disease that currently have limited treatment options.
Business
Tenaya Therapeutics operates in the biotechnology sector, specifically focusing on cardiovascular therapeutics. The company develops treatments for various forms of heart disease using three main technological approaches. Heart disease remains one of the leading causes of death globally, with many conditions having limited therapeutic options, particularly genetic forms of cardiomyopathy and heart failure. The company's pipeline consists of several key programs. TN-201 is an adeno-associated virus (AAV)-based gene therapy designed to treat genetic hypertrophic cardiomyopathy caused by mutations in the MYBPC3 gene. Hypertrophic cardiomyopathy is a condition where the heart muscle becomes abnormally thick, making it harder for the heart to pump blood effectively. TN-301 represents a different approach, utilizing a small molecule inhibitor targeting histone deacetylase 6 (HDAC6) for heart failure with preserved ejection fraction and genetic dilated cardiomyopathy. This condition involves the heart's inability to pump blood efficiently despite maintaining normal pumping strength. Additionally, TN-401 is another gene therapy targeting genetic arrhythmogenic right ventricular cardiomyopathy caused by PKP2 gene mutations, a condition that affects the heart's electrical system and can lead to dangerous arrhythmias. The company is also developing a gene therapy delivering the DWORF gene for dilated cardiomyopathy and pursuing a cardiac regeneration program aimed at replacing heart cells lost due to heart attacks. All of these programs are currently in preclinical or early clinical development stages, with no products yet generating revenue. The company operates as a single business segment focused entirely on cardiovascular drug development.
Revenue model
Tenaya Therapeutics currently generates no revenue, as is typical for early-stage biotechnology companies with products still in development. The company's future business model will likely center on licensing agreements, partnerships with pharmaceutical companies, and eventual product sales once therapies receive regulatory approval. The company funds its operations through equity financing, having raised capital through its initial public offering and subsequent equity raises. As of the most recent quarter, the company had approximately $54 million in cash and short-term investments, which provides runway for continued operations and clinical development. Several factors could significantly impact Tenaya's future profitability and margins. Success in clinical trials would dramatically increase the company's value and potential for partnerships or acquisition. Conversely, clinical trial failures or regulatory setbacks could severely impact the company's prospects. The competitive landscape in cardiovascular therapeutics is intense, with large pharmaceutical companies and other biotechnology firms developing competing therapies. Manufacturing costs for gene therapies are typically high, which could pressure future margins. Additionally, the company's ability to secure favorable reimbursement from healthcare payers will be crucial for commercial success. The regulatory environment for gene therapies continues to evolve, with the FDA generally supportive of innovative treatments for serious genetic diseases, which could benefit Tenaya's pipeline. However, the company faces the inherent risks of drug development, including the possibility that promising preclinical results may not translate to successful human trials.
Competitive moat
Tenaya Therapeutics operates in a highly competitive biotechnology landscape with limited sustainable competitive advantages at this early stage of development. The company's primary potential moat lies in its intellectual property portfolio and scientific expertise in cardiovascular gene therapy, but these advantages are not yet proven or deeply entrenched. The company's focus on genetic forms of heart disease represents a specialized niche that could provide some protection from broader competition. Gene therapy for cardiovascular conditions is a relatively nascent field, and Tenaya's early positioning could provide first-mover advantages in specific indications. However, this advantage is fragile, as larger pharmaceutical companies with significantly greater resources could enter the space and potentially outcompete Tenaya. The company's three-platform approach (cellular regeneration, gene therapy, and precision medicine) provides some diversification of risk and potential for synergies, but does not constitute a strong defensive moat. Large pharmaceutical companies like Novartis, Bristol Myers Squibb, and others have substantial cardiovascular drug development programs and could develop competing therapies. The regulatory pathway for gene therapies, while potentially favorable for serious genetic diseases, also represents a significant barrier that all competitors must navigate. Tenaya's experience and relationships with regulatory agencies could provide modest advantages, but these are not insurmountable barriers for well-funded competitors. Overall, Tenaya's competitive position is relatively weak, relying primarily on execution excellence and the hope that one or more of its programs will demonstrate superior efficacy and safety profiles compared to existing or competing treatments.
Risks & safety
Tenaya Therapeutics presents significant financial risks typical of early-stage biotechnology companies, with limited margin of safety for investors. • Cash burn and solvency: The company burned approximately $91.5 million in free cash flow during 2024, with quarterly burn rates around $20-25 million. With only $54 million in cash as of Q1 2025, the company has less than one year of runway at current spending levels, creating immediate financing risk. • Debt levels: Low debt-to-equity ratio of 0.11, indicating minimal debt burden, which is positive for financial flexibility. • Valuation metrics: Trading at 0.52x book value and negative earnings multiples due to losses. Current ratio of 6.7x indicates strong short-term liquidity relative to current liabilities. • Other considerations: No revenue generation, complete dependence on clinical trial outcomes, and high probability of additional dilutive equity raises needed to fund operations. The company's survival depends entirely on successful clinical development or securing strategic partnerships.
Recent development
Based on the available financial data, Tenaya Therapeutics has been advancing its pipeline of cardiovascular gene therapies and precision medicine programs over the past few years. The company has maintained its focus on three core platform technologies while managing cash resources to fund clinical development activities. The company's cash position has fluctuated significantly, starting 2024 with substantial resources but ending the year with critically low cash levels, indicating accelerated spending on clinical programs. This suggests the company has been actively advancing its pipeline, particularly the TN-201, TN-301, and TN-401 programs through various stages of development. The consistent quarterly losses in the $23-29 million range indicate steady investment in research and development activities. The company has likely been conducting preclinical studies, manufacturing clinical trial materials, and potentially initiating early-phase clinical trials for its lead programs. The absence of revenue throughout this period confirms that all programs remain in development stages without any commercial partnerships or milestone payments. The company's strategic focus appears to remain on advancing its gene therapy programs for genetic cardiomyopathies while developing its precision medicine approach for heart failure conditions. The significant cash burn suggests active clinical development, though specific program milestones and trial results are not detailed in the available financial information.
TNYA company profile · for informational purposes only — not investment advice.
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