Tenaya Therapeutics, Inc.
TNYA evidence brief
What we can confirm
- BioSniper Score:
- 5.4 / 10
- Market Cap:
- $143.5M
- Lead Asset:
- tn-201 (Phase 1/Phase 2)
What it means
What to watch
Prepared research question
What matters most for TNYA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TNYA
Tenaya Therapeutics (TNYA) is a clinical-stage biotechnology company developing gene therapies and small molecules for heart disease, with lead programs in hypertrophic cardiomyopathy (TN-201) and arrhythmogenic right ventricular cardiomyopathy (TN-401), and no approved products or commercial revenue to date.
Key risk: FDA clinical hold on TN-201
BioSniper Score
Based on 4 of 6 signals
Market Cap
$143.5M
Cash Runway
—
Lead Asset
tn-201 (Phase 1/Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 2 clinical trials for Tenaya Therapeutics, Inc..
Tenaya Therapeutics (TNYA) is a clinical-stage biotechnology company developing gene therapies and small molecules for heart disease, with lead programs in hypertrophic cardiomyopathy (TN-201) and arrhythmogenic right ventricular cardiomyopathy (TN-401), and no approved products or commercial revenue to date.
- Cash & equivalents of $78.1M as of 2026-06-30 [sec].
- Total revenue of $1.1M and net loss of -$43.4M for the six months ended 2026-06-30 [sec].
- Lead product candidate TN-201 (gene therapy for MYBPC3-associated HCM) is in a Phase 1b/2 trial (MyPEAK-1) with interim data reported in June 2026 [news].
- Company expects to continue incurring operating losses and will require substantial additional funding to complete development and commercialization [sec_mda · as of 2026-03-11].
- An additional loan of $20.0M may be available at SVB's discretion under an amended loan agreement [sec_mda · as of 2026-08-05].
What works
- Cash position of $78.1M as of 2026-06-30 provides a runway of at least twelve months per management's assessment [sec].
- Lead program TN-201 has advanced to a Phase 1b/2 trial with interim data reported, indicating clinical progress [news].
- Pipeline includes multiple programs (TN-201, TN-401, TN-301) addressing different forms of heart disease, diversifying risk [sec_mda · as of 2025-05-07].
What to weigh
- No approved products or commercial revenue to date; company has generated only $1.1M in total revenue as of 2026-06-30 [sec].
- Net loss of -$43.4M for the six months ended 2026-06-30, with expectations of continued operating losses [sec].
- TN-201 program is under a clinical hold by the FDA, creating uncertainty around data milestones and development timelines [sec · filed 2025-11-07].
- Substantial additional funding will be required to complete development and commercialization, and an additional $20M loan is discretionary [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
No approved products or revenue to date
“we do not have any products approved for sale and have not generated any revenue to date”
SEC MD&A · May 7, 2025
TN-201 is in a Phase 1b/2 trial with interim data reported
“Tenaya Therapeutics To Report New Interim Data From Cohort 1 And 2 Of Ongoing MyPEAK-1 Phase 1b/2 Trial Of TN-201 Gene Therapy For Adults With MYBPC3-Associated Hypertrophic Cardiomyopathy On June 3”
News · June 2, 2026
FDA clinical hold on TN-201 program
“the impact of the FDA's clinical hold on data milestones and development timelines”
SEC filings · November 7, 2025
Catalyst timeline
- 2023-08-10 · Phase 2 Start of TN-201 MyPEAK-1 trial — First-in-human, open-label study of TN-201 gene therapy in adults with MYBPC3-associated hypertrophic cardiomyopathy.
Risks & what to watch (4)›
Key risks
- FDA clinical hold on TN-201 — The FDA's clinical hold on the MyPEAK-1 trial creates uncertainty for data milestones and development timelines [sec · filed 2025-11-07].
- No revenue and ongoing losses — Company has no approved products, minimal revenue ($1.1M), and a net loss of -$43.4M as of 2026-06-30 [sec].
- Substantial funding needed — Management states substantial additional funding is required to complete development and commercialization; $20M loan is discretionary [sec_mda · as of 2026-08-05].
- Clinical trial execution risk — Potential failure of TN-201 to demonstrate safety/efficacy, or results differing from preclinical expectations [sec · filed 2024-12-17].
What to watch
- Resolution of the FDA clinical hold on the MyPEAK-1 trial and any resulting updates to development timelines [sec · filed 2025-11-07].
- Interim data from MyPEAK-1 Cohorts 1 and 2 reported in June 2026 and any subsequent data releases [news].
- Company's ability to secure additional funding, including the discretionary $20M loan from SVB [sec_mda · as of 2026-08-05].
- Progress of pipeline programs TN-401 and TN-301 toward clinical trials [sec_mda · as of 2025-05-07].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated September 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.35 · 0% dilution
Lead: Phase 1/Phase 2
3 candidates
No upcoming catalysts tracked
0 buys · 11 sells (180d)
Pipeline
Regulatory
Financials
Short Interest
as of Apr 20, 2026- % of float
- 22.2%
- Days to cover
- 4.5
- Shares short
- 25,187,788
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TNYA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Tenaya Therapeutics, Inc.?
Tenaya Therapeutics (TNYA) is a clinical-stage biotechnology company developing gene therapies and small molecules for heart disease, with lead programs in hypertrophic cardiomyopathy (TN-201) and arrhythmogenic right ventricular cardiomyopathy (TN-401), and no approved products or commercial revenue to date.
What is Tenaya Therapeutics, Inc.'s lead drug candidate?
Tenaya Therapeutics, Inc.'s most advanced tracked candidate is tn-201 (Phase 1/Phase 2) for Hypertrophic Cardiomyopathy.
Who is the CEO of Tenaya Therapeutics, Inc.?
Mr. Faraz Ali M.B.A. is the chief executive officer of Tenaya Therapeutics, Inc. (TNYA).
Where is Tenaya Therapeutics, Inc. headquartered?
Tenaya Therapeutics, Inc. (TNYA) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does Tenaya Therapeutics, Inc. focus on?
Tenaya Therapeutics, Inc. develops therapies across Gene Therapy, Cardiovascular.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.