Tenaya Therapeutics To Make Nasdaq Debut

tenayatherapeutics july30 lt

Tenaya Therapeutics, founded in 2016, is making its debut on the Nasdaq Global Market today (July 30), under ticker symbol "TNYA".

The South San Francisco, California-based Tenaya Therapeutics is a biotechnology company developing curative therapies to treat heart diseases through three distinct but interrelated product platforms - Gene Therapy, Cellular Regeneration and Precision Medicine.

The company has offered to sell 12.0 million shares in the Initial Public Offering (IPO) at a price of $15 each. The underwriters have a 30-day option to purchase up to 1.8 million additional shares.

The aggregate gross proceeds are expected to be $180.0 million. The offering is scheduled to close on August 3, 2021.

Underwriters of the IPO:

Morgan Stanley & Co. LLC, Cowen and Company, LLC and Piper Sandler & Co., Chardan Capital Markets LLC

Pipeline and Near-term Catalysts:

--The company's most advanced product candidate from its Gene Therapy platform, TN-201, is currently in IND-enabling studies for genetic hypertrophic cardiomyopathy (gHCM) caused by Myosin Binding Protein C3 (MYBPC3) gene mutations and the submission of IND or CTA to the FDA or EMA, respectively, is expected in 2022.

--The lead product candidate from the Precision Medicine platform, TYA-11631, has the potential to treat various forms of heart failure, including heart failure with preserved ejection. This compound is in IND-enabling activities, with the IND expected to be submitted to the FDA in 2022.

-- The other programs namely the PKP2 Program for genetic arrhythmogenic right ventricular cardiomyopathy (gARVC), the DWORF Program for dilated cardiomyopathy, and the Reprogramming program for Heart failure due to prior myocardial infarction are all currently under candidate selection stage.

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