NASDAQ$TNYA
Tenaya Therapeutics Inc · Q2 2024 earnings
Q2 2024 earnings · · After market close · Investor relations
Briefing
Tenaya Therapeutics Inc reported a net loss of $29.4 million for the second quarter of 2024.
Tenaya Therapeutics Inc, a clinical-stage biotechnology company, reported operating expenses of $30.8 million for Q2 2024, primarily driven by research and development activities. The company recorded a net loss of $29.4 million, or $0.34 per share, with interest income partially offsetting losses. Cash and cash equivalents stood at $58.1 million as of June 30, 2024.
- Net loss for Q2 2024 was $29.4 million compared to $33.3 million in Q2 2023.
- Research and development expenses decreased to $22.6 million from $26.5 million year-over-year.
- General and administrative expenses were $8.2 million, down slightly from $8.6 million in the prior year.
- The company completed a workforce reduction of approximately 22% in May 2024 to focus on clinical-stage gene therapy programs.
Headline financials
Revenue & EPS history
Tenaya Therapeutics · Revenue · Quarterly
$0
Forward guidance
The company anticipates initial data from the MyPEAK-1 Phase 1b trial for TN-201 in the second half of 2024 and plans to initiate patient dosing in the RIDGE-1 trial for TN-401 in Q4 2024.
Tailwinds
- Focus on clinical-stage gene therapy programs following workforce reduction
- Sufficient cash runway through at least the next twelve months with existing resources and new loan facility
Headwinds
- Continued net losses expected as development activities proceed
- No product revenue generated to date
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports
+2.7%
Avg return
Earnings day
+2.1%
Avg return
5 days after
-5.6%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+39.8%
Q3 2022
Best reaction
-18.7%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | +0.3% | — | — | |
| Q2 2024 | — | — | — | |
| Q1 2026 | +4.8% | +30.3% | -4.2% | |
| Q4 2025 | -1.3% | -0.2% | -19.7% | |
| Q3 2025 | -1.4% | -7.0% | -4.9% | |
| Q1 2025 | +7.8% | -3.3% | +38.2% | |
| Q4 2024 | -6.5% | -12.7% | -38.4% | |
| Q3 2024 | +17.4% | +20.7% | +68.1% | |
| Q1 2024 | -0.7% | +8.9% | -12.6% | |
| Q4 2023 | -8.9% | -5.1% | -13.6% | |
| Q3 2023 | -7.8% | -10.2% | -2.9% | |
| Q2 2023 | +7.3% | +0.0% | -24.6% | |
| Q1 2023 | +12.1% | +7.2% | +9.0% | |
| Q4 2022 | -18.7% | -20.6% | -25.9% | |
| Q3 2022 | +39.8% | +53.4% | +11.0% | |
| Q2 2022 | +1.5% | +6.5% | -11.3% | |
| Q1 2022 | -5.7% | -6.7% | -29.9% | |
| Q4 2021 | +6.0% | +3.2% | -5.0% | |
| Q3 2021 | +7.7% | -13.5% | -28.1% | |
| Q2 2021 | -2.8% | -12.6% | -6.5% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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