Tenaya Therapeutics Files Q2 2024 10-Q

TL;DR

Tenaya Therapeutics Q2 2024 10-Q filed. Financials and operations updated.

AI Summary

Tenaya Therapeutics, Inc. filed its Q2 2024 10-Q report on August 8, 2024, detailing its financial position as of June 30, 2024. The company, focused on biological products, operates from South San Francisco, California. Key financial data and operational updates for the period are presented in this filing.

Why It Matters

This filing provides investors and stakeholders with the latest financial health and operational status of Tenaya Therapeutics, crucial for understanding its performance and future prospects in the biotechnology sector.

Risk Assessment

Risk Level: medium — Biotechnology companies often carry higher risk due to the nature of research and development, regulatory hurdles, and market volatility.

Key Numbers

• 2 years — Reporting Period (Indicates the duration of financial data covered in the filing.)

Key Players & Entities

• Tenaya Therapeutics, Inc. (company) — Filer of the 10-Q report
• South San Francisco, California (location) — Company's business address
• August 8, 2024 (date) — Date of filing
• June 30, 2024 (date) — Period end date for the report

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share TNYA Nasdaq Global Select

Filing Documents

• tnya-20240630.htm (10-Q) — 1939KB
• tnya-ex10_1.htm (EX-10.1) — 53KB
• tnya-ex31_1.htm (EX-31.1) — 20KB
• tnya-ex31_2.htm (EX-31.2) — 20KB
• tnya-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-094059.txt ( ) — 6747KB
• tnya-20240630.xsd (EX-101.SCH) — 880KB
• tnya-20240630_htm.xml (XML) — 993KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Balance Sheets as of June 30, 2024 and December 31, 2023 5 Condensed Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 6 Condensed Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 7 Condensed Statements of Cash Flows for the six months ended June 30, 2024 and 2023 9 Notes to Unaudited Condensed Financial Statements 10 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 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 81 Item 3. Defaults Upon Senior Securities 81 Item 4. Mine Safety Disclosures 81 Item 5. Other Information 81 Item 6. Exhibits 83

SIGNATURES

SIGNATURES 85 SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or Quarterly Report, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. All statements other than statements of historical facts contained in this Quarterly Report, including statements regarding our future results of operations and financial position, business strategy, development plans, planned preclinical studies and clinical trials, future results of clinical trials, expected research and development costs, regulatory strategy, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. In some cases, investors can identify forward-looking statements by terms such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about: our vision to change the treatment paradigm for heart disease; the ability of our ongoing preclinical studies and ongoing or planned clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing, dosing, patient enrollment and populations, progress, and results of preclinical studies and ongoing or planned clinical trials for our current product candidates and other product candidates we may develop; the timing, scope and likelihood of regulatory filings and approvals, including timing of investigational new drugs (INDs), clinical trial applications (CTAs), U.S. Food and Drug Administration (FDA) approvals, and final regulatory approval of our current product candidates and any other future product candidates; our ability to develop and advanc

– FINANC IAL INFORMATION

PART I – FINANC IAL INFORMATION

Financi al Statements

Item 1. Financi al Statements. TENAYA THERAPEUTICS, INC. Condensed Ba lance Sheets (In thousands) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 58,134 $ 45,681 Short-term investments in marketable securities 41,169 58,961 Prepaid expenses and other current assets 5,726 6,940 Total current assets 105,029 111,582 Property and equipment, net 39,437 43,277 Operating lease right-of-use assets 13,656 9,979 Other noncurrent assets 5,063 5,677 Total assets $ 163,185 $ 170,515 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,319 $ 5,630 Accrued and other current liabilities 9,030 12,784 Operating lease liabilities, current 3,363 4,319 Total current liabilities 16,712 22,733 Operating lease liabilities, noncurrent 12,210 8,105 Other noncurrent liabilities 266 253 Total liabilities 29,188 31,091 Commitments and contingencies (Note 5) Stockholders' equity: Common stock 8 7 Additional paid-in capital 598,997 542,805 Accumulated other comprehensive loss ( 67 ) ( 106 ) Accumulated deficit ( 464,941 ) ( 403,282 ) Total stockholders' equity 133,997 139,424 Total liabilities and stockholders' equity $ 163,185 $ 170,515 The accompanying notes are an integral part of these unaudited condensed financial statements. 5 TENAYA THERAPEUTICS, INC. Condensed Statements of Opera tions and Comprehensive Loss (In thousands, except share and per share data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 22,649 $ 26,477 $ 47,704 $ 52,082 General and administrative 8,174 8,627 16,881 16,745 Total operating expenses 30,823 35,104 64,585 68,827 Loss from operations ( 30,823 ) ( 35,104 ) (