Taysha Gene Therapies Q1 2024 Update
Ticker: TSHA · Form: 10-Q · Filed: May 14, 2024 · CIK: 1806310
Sentiment: neutral
Topics: 10-Q, gene-therapy, financials
TL;DR
Taysha Gene Therapies has $129.5M cash as of Q1 2024, continuing gene therapy development.
AI Summary
Taysha Gene Therapies, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported cash and cash equivalents of $129.5 million as of March 31, 2024. Key events include the ongoing development of gene therapies and various agreements, such as the Abeona Rett Agreement and the Trinity Term Loan Agreement.
Why It Matters
This filing provides insight into Taysha Gene Therapies' financial health and operational progress in the first quarter of 2024, crucial for investors assessing the company's gene therapy development pipeline.
Risk Assessment
Risk Level: medium — The company operates in the highly speculative and capital-intensive gene therapy sector, with significant research and development costs and regulatory hurdles.
Key Numbers
- $129.5M — Cash and Cash Equivalents (As of March 31, 2024, indicating liquidity.)
Key Players & Entities
- Taysha Gene Therapies, Inc. (company) — Filer of the 10-Q
- $129.5 million (dollar_amount) — Cash and cash equivalents as of March 31, 2024
- March 31, 2024 (date) — End of the reporting period
- Abeona Rett Agreement (company) — Mentioned agreement
- Trinity Term Loan Agreement (company) — Mentioned agreement
FAQ
What was Taysha Gene Therapies' cash position at the end of Q1 2024?
As of March 31, 2024, Taysha Gene Therapies reported cash and cash equivalents of $129.5 million.
What is the primary business of Taysha Gene Therapies?
Taysha Gene Therapies is focused on developing gene therapies, as indicated by its SIC code for Biological Products.
When is Taysha Gene Therapies' fiscal year end?
The company's fiscal year ends on December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on May 14, 2024.
What are some of the agreements mentioned in the filing?
The filing mentions agreements such as the Abeona Rett Agreement and the Trinity Term Loan Agreement.
Filing Stats: 4,501 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-05-14 16:12:35
Key Financial Figures
- $0.00001 — ch registered Common stock, par value $0.00001 per share TSHA The Nasdaq Stock Mar
Filing Documents
- tsha-20240331.htm (10-Q) — 1575KB
- tsha-ex31_1.htm (EX-31.1) — 15KB
- tsha-ex31_2.htm (EX-31.2) — 15KB
- tsha-ex32_1.htm (EX-32.1) — 9KB
- tsha-ex32_2.htm (EX-32.2) — 9KB
- img39569174_0.jpg (GRAPHIC) — 15KB
- img39569174_1.jpg (GRAPHIC) — 74KB
- img39569174_2.jpg (GRAPHIC) — 28KB
- img39569174_3.jpg (GRAPHIC) — 29KB
- img39569174_4.jpg (GRAPHIC) — 81KB
- img39569174_5.jpg (GRAPHIC) — 27KB
- img39569174_6.jpg (GRAPHIC) — 24KB
- img39569174_7.jpg (GRAPHIC) — 53KB
- 0000950170-24-059555.txt ( ) — 9261KB
- tsha-20240331.xsd (EX-101.SCH) — 1508KB
- tsha-20240331_htm.xml (XML) — 1443KB
Notes to Financial Statements
Notes to Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.
Controls and Procedures
Controls and Procedures 44 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 46 Item 1A.
Risk Factors
Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 47
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements. Taysha Gene Therapies, Inc. Condensed Consolida ted Balance Sheets (in thousands, except share and per share data) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 123,980 $ 143,940 Restricted cash 449 449 Prepaid expenses and other current assets 4,168 3,479 Assets held for sale 2,000 2,000 Total current assets 130,597 149,868 Restricted cash 2,151 2,151 Property, plant and equipment, net 10,686 10,826 Operating lease right-of-use assets 9,261 9,582 Other non-current assets 304 304 Total assets $ 152,999 $ 172,731 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 10,380 $ 6,366 Accrued expenses and other current liabilities 13,562 12,284 Deferred revenue 14,695 18,106 Total current liabilities 38,637 36,756 Term loan, net 40,512 40,508 Operating lease liability, net of current portion 18,499 18,953 Other non-current liabilities 1,502 1,577 Total liabilities 99,150 97,794 Commitments and contingencies - Note 13 Stockholders' equity Preferred stock, $ 0.00001 par value per share; 10,000,000 shares authorized and no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, $ 0.00001 par value per share; 400,000,000 shares authorized and 187,018,275 and 186,960,193 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 2 2 Additional paid-in capital 591,166 587,942 Accumulated other comprehensive loss ( 251 ) — Accumulated deficit ( 537,068 ) ( 513,007 ) Total stockholders' equity 53,849 74,937 Total liabilities and stockholders' equity $ 152,999 $ 172,731 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Taysha Gene Therapies, Inc. Condensed Consoli