TNYA Stock — Tenaya Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biotechnology company committed to a bold mission: to discover, develop and deliver potentially curative therapies that address the underlying drivers of heart disease. Heart disease remains the leading cause of death in the world. In the U.S., one person dies from a cardiovascular-related health condition every 34 seconds, a gruesome statistic that translates to one in every three deaths in the U.S each year.

Source: 10-K FY2025 via SEC EDGAR

Share price

$0.36

Market cap

$82.1M

Cash

$66.8M

Enterprise value

$15.3M

Balance sheet

Cash	$66.8M
Debt	$0.0M
Net cash	$66.8M
Enterprise value	$15.3M
Basic shares	227.9M shares
Fully diluted shares	367.4M shares
Fully diluted market cap	$132.3M
Cash per share	$0.29
Quarterly burn	$3.6M
Cash runway	22.0 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

224.2M

Pre-funded warrants

0.0M

Options

18.1M

RSUs

0.0M

Warrants

125.1M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

367.4M

Cap table as of 2026-06-30.

Price history

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Next catalyst

TN-201 · Est. Nov 15, 2026 · quarter midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	TN-201 MyPEAK-1 Phase 1b/2 in MYBPC3-associated hypertrophic cardiomyopathy (additional interim data; pivotal regulatory alignment update)	Phase 1b	MYBPC3-associated hypertrophic cardiomyopathy (additional	Q4 2026
GUIDEDNow - Dec 31, 2026 Now	TN-401 RIDGE-1 Phase 1b/2 in PKP2-associated arrhythmogenic right ventricular cardiomyopathy (additional interim data; pivotal regulatory alignment update) · NCT06228924	Phase 1b	PKP2-associated arrhythmogenic right ventricular cardiomyopathy (additional	Q4 2026
Sep 12 - Oct 24 in 10 mo	TN-201	Phase 1/2	Hypertrophic Cardiomyopathy	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

TN-201

Phase 1 · Active Modality: gene therapy (AAV)

Target MYBPC3 gene

Partnerships Alnylam: March 2026 research collaboration to discover and validate novel cardiovascular gene targets (upfront payment; target-by-target license)

Indications

MYBPC3-associated hypertrophic cardiomyopathy (HCM) (Phase 1)

Catalysts

— None

Status note Investigational AAV-based gene therapy for MYBPC3-associated HCM, caused by insufficient myosin-binding protein C (MyBP-C). Clinical-stage; one-time intravenous infusion studied in a first-in-human trial. Company pursuing alignment with regulators on pivotal trial plans.

TN-401

Phase 1 · Active Modality: gene therapy (AAV)

Target PKP2 gene

Indications

PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC/ACM) (Phase 1)

Catalysts

— None

Status note Investigational AAV-based gene therapy for ARVC caused by PKP2 mutations. Phase 1 trial evaluating two dose levels (3E13 vg/kg and 6E13 vg/kg) of a one-time IV infusion; pursuing alignment with regulators on pivotal trial plans.

TN-301

Phase 1 · Active Modality: small molecule

Target HDAC6

Indications

Duchenne muscular dystrophy (DMD) (Phase 1)
Heart failure with preserved ejection fraction (HFpEF) (Phase 1)

Status note Selective HDAC6 inhibitor. Phase 1 SAD/MAD study in healthy volunteers (up to 300mg QD for 14 days). FDA granted Orphan Drug and Rare Pediatric Drug Designations as a DMD treatment.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	TN-201
Lead indication	Hypertrophic Cardiomyopathy
Lead phase	Phase 2
Active trials	4

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05836259	Phase 1/2	Recruiting	Sponsor	Tenaya Therapeutics	—	Hypertrophic Cardiomyopathy	—
NCT06228924	Phase 1	Recruiting	Sponsor	Tenaya Therapeutics	—	Arrhythmogenic Right Ventricular Cardiomyopathy	Q4 2026
NCT05112237	Not disclosed	Active, not recruiting	Sponsor	Tenaya Therapeutics	—	Cardiomyopathy	—
NCT06311708	Not disclosed	Recruiting	Sponsor	Tenaya Therapeutics	—	Arrhythmogenic Right Ventricular Cardiomyopathy	—

Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 4 active trials for Tenaya Therapeutics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	1,555,500	+47,700	0.05%	2026-08-14
Casdin Capital	361,969	no change	0.01%	2026-08-14
DAFNA Capital	300,000	+300,000	0.04%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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TNYA — Tenaya Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

TNYA — Tenaya Therapeutics Inc.