Tenaya Therapeutics, Inc. (TNYA) reported its first-quarter 2026 financial results and provided a business update, noting continued progress across its gene therapy and small-molecule pipeline targeting genetic cardiomyopathies and related heart conditions.
The company said it is entering a "catalyst-rich period" with several important data readouts expected this year.
For Q1 2026, Tenaya reported a net loss of $19.3 million, or $0.09 per share, compared with a net loss of $26.9 million, or $0.24 per share, in the same quarter of 2025.
Cash and equivalents totaled $80.9 million as of March 31, 2026, which, along with a $10 million upfront payment from its Alnylam collaboration, is expected to fund operations into the second half of 2027.
Pipeline Update
TN-201- Gene Therapy for MYBPC3-Associated Hypertrophic Cardiomyopathy (HCM) Tenaya expects to report Cohort 2 interim data and updated Cohort 1 results from the MyPEAK-1 Phase 1b/2 trial in the second quarter of 2026.
New insights into optimizing immunosuppression regimens- such as earlier Sirolimus dosing and reduced Prednisone will be presented at the ESC Heart Failure Conference on May 9, 2026.
TN-401- Gene Therapy for PKP2-Associated Arrhythmogenic Right Ventricular Cardiomyopathy (ARVC). Late-breaking data from the RIDGE-1 Phase 1b/2 trial, including one-year Cohort 1 results and initial Cohort 2 data, will be presented at ASGCT on May 15, 2026.
The trial's data safety board has endorsed continued enrolment at both dose levels following review of safety data from the first six treated patients.
TN-301- HDAC6 Inhibitor for HFpEF and Duchenne muscular dystrophy (DMD)New preclinical data presented at MDA 2026 showed TN-301 improved grip strength, reduced muscle injury markers, and corrected cardiomyocyte dysfunction in DMD models, outperforming Givinostat in several measures.
Tenaya plans to advance TN-301 toward clinical trials in 2026, with HFpEF and DMD identified as promising indications.
TN-501- Gene editing therapeutic candidate for PLN-R14del dilated cardiomyopathyUpdated preclinical data for TN-501 will be presented at ASGCT on May 14, 2026. The therapy is designed to selectively inactivate the pathogenic PLN-R14del allele while preserving normal function.Alnylam Collaboration
In March 2026, Tenaya entered into a multi-target research collaboration with Alnylam Pharmaceuticals to identify and validate novel genetic targets for cardiovascular disease.
The company received a $10 millions upfront payment and may earn up to $1.1 billion in future milestone plus research reimbursement.
TNYA has traded between $0.36 and $2.35 over the past year. The stock closed Wednesday's trading at $0.79, up 4.76%. In pre-market trading the stock is at $0.81, up 2.77%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.