Tenaya Therapeutics Files Q3 2024 10-Q

TL;DR

Tenaya's Q3 10-Q is in: R&D expenses detailed, balance sheet updated.

AI Summary

Tenaya Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported research and development expenses for the three months ended September 30, 2024, and for the nine months ended September 30, 2024. Financial statements also detail common stock, additional paid-in capital, and retained earnings as of September 30, 2024.

Why It Matters

This filing provides investors with an update on Tenaya Therapeutics' financial position and operational expenses, crucial for understanding the company's progress in its research and development efforts.

Risk Assessment

Risk Level: medium — Biotech companies like Tenaya Therapeutics are inherently risky due to the long and uncertain nature of drug development and regulatory approvals.

Key Numbers

• $0001858848 — Central Index Key (Unique identifier for Tenaya Therapeutics, Inc. in SEC filings.)
• 2836 — SIC Code (Standard Industrial Classification for Biological Products.)

Key Players & Entities

• Tenaya Therapeutics, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-06 (date) — Filing date
• South San Francisco, CA (location) — Company's business address

FAQ

Key Financial Figures

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

Filing Documents

• tnya-20240930.htm (10-Q) — 2048KB
• tnya-ex4_1.htm (EX-4.1) — 180KB
• tnya-ex10_1.htm (EX-10.1) — 696KB
• tnya-ex31_1.htm (EX-31.1) — 21KB
• tnya-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-122359.txt ( ) — 8046KB
• tnya-20240930.xsd (EX-101.SCH) — 969KB
• tnya-20240930_htm.xml (XML) — 1028KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Balance Sheets as of September 30, 2024 and December 31, 2023 5 Condensed Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 6 Condensed Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 7 Condensed Statements of Cash Flows for the nine months ended September 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 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 82

SIGNATURES

SIGNATURES 83 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) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 8,231 $ 45,681 Short-term investments in marketable securities 71,238 58,961 Prepaid expenses and other current assets 5,861 6,940 Total current assets 85,330 111,582 Property and equipment, net 37,753 43,277 Operating lease right-of-use assets 12,626 9,979 Other noncurrent assets 4,873 5,677 Total assets $ 140,582 $ 170,515 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,839 $ 5,630 Accrued and other current liabilities 7,327 12,784 Operating lease liabilities, current 3,011 4,319 Total current liabilities 16,177 22,733 Operating lease liabilities, noncurrent 11,527 8,105 Other noncurrent liabilities 276 253 Total liabilities 27,980 31,091 Commitments and contingencies (Note 4) Stockholders' equity: Common stock 8 7 Additional paid-in capital 603,093 542,805 Accumulated other comprehensive loss 76 ( 106 ) Accumulated deficit ( 490,575 ) ( 403,282 ) Total stockholders' equity 112,602 139,424 Total liabilities and stockholders' equity $ 140,582 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 20,350 $ 23,091 $ 68,054 $ 75,173 General and administrative 6,361 7,829 23,242 24,574 Total operating expenses 26,711 30,920 91,296 99,747 Loss from operations ( 26,711 ) ( 30,920