Overview
US cardiac gene therapy developer's Q4 net loss narrowed to $20.18 mln, compared to analysts' expectations of a loss of $22.05 mln
Q4 operating loss was lower than expected
Company closed $55.8 mln financing and entered into research collaboration with Alnylam deal, extending cash runway into H2 2027
Outlook
Tenaya expects to report interim and longer-term TN-201 clinical trial data throughout 2026
Company plans to advance TN-301 toward clinical trials in patients in 2026
Tenaya expects cash resources to fund operations into second half of 2027
Result Drivers
LOWER R&D SPENDING - Q4 R&D expenses fell to $14.8 mln from $18.7 mln a year earlier
PIPELINE PROGRESS - Co reported promising interim clinical data for TN-201 and TN-401 gene therapy programs and new preclinical data for TN-301
COST CONTROL - G&A expenses were flat year-over-year at $6.0 mln in Q4
Company press release: ID:nGNX2HJFNl
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Income | Beat | -$20.18 mln | -$22.05 mln (4 Analysts) |
Q4 Operating Income | Beat | -$20.78 mln | -$22.40 mln (3 Analysts) |
Q4 Pretax Profit | Beat | -$20.18 mln | -$22.05 mln (4 Analysts) |
Q4 Basic EPS | -$0.12 | ||
Q4 Operating Expenses | $20.78 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 $3.00, about 235.2% above its March 10 closing price of $0.90
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)