Tectonic Q2 net loss $22.3M; cash $227M; TX45 Phase 2 enrollment complete, IDMC recommends continuation

Tectonic Therapeutic, Inc.

Net loss of $22.3M for Q2 2026 vs $20.0M in Q2 2025; R&D expenses $18.0M, G&A $6.2M.
Cash and cash equivalents $227.1M as of June 30, 2026; cash runway into Q1 2029.
TX45 APEX Phase 2 trial in PH-HFpEF completed enrollment (191 patients, 137 with CpcPH); IDMC recommended continuation; topline results expected early Q1 2027.
TX2100 Phase 1a single dose cohorts completed; topline results expected by end of Q3 2026; Phase 2 planned early 2027.

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