Tenaya reports FY2025 net loss of $90.6M; cash runway into H2 2027

Tenaya Therapeutics, Inc.

Net loss $90.6M ($0.59/share) for FY2025 vs $111.1M ($1.31) in FY2024; Q4 net loss $20.2M.
Cash, equivalents and investments $100.5M at Dec 31, 2025; December offering net $55.8M plus Alnylam upfront extend runway into H2 2027.
TN-201 (HCM) and TN-401 (ARVC) gene therapies: interim data presented; enrollment resumed; plans for regulatory alignment in 2026.
Entered multi-target collaboration with Alnylam: $10M upfront, up to $1.1B milestones; Alnylam handles development and commercialization.
TN-301 (HDAC6i) preclinical DMD data: improved grip strength to wild-type levels at 3 mg/kg, outperforming givinostat.

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