[Tectonic Therapeutic First Quarter 2025 Financial Results and Business Highlights](index=1&type=section&id=Tectonic%20Therapeutic%20First%20Quarter%202025%20Financial%20Results%20and%20Business%20Highlights) [Business Highlights and Upcoming Milestones](index=1&type=section&id=Business%20Highlights%20and%20Upcoming%20Milestones) The company reported positive TX45 trial data, initiated further studies, and secured financing to extend its cash runway - Interim analysis from the TX45 Phase 1b Part A trial demonstrated **meaningful improvements** in patients with Group 2 Pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF)[6](index=6&type=chunk) - Positive interim results from Part A (n=16) showed a **17.9% reduction in Pulmonary Capillary Wedge Pressure (PCWP)** and **over 30% reduction in Pulmonary Vascular Resistance (PVR)** in the more severe CpcPH subpopulation[7](index=7&type=chunk) - Completed a private investment in public equity (PIPE) financing in February 2025, resulting in gross proceeds of approximately **$185.0 million**[7](index=7&type=chunk) - Full results from the Phase 1b Part A trial (19 patients) will be presented on **May 17, 2025**, at the ESC Heart Failure Congress[6](index=6&type=chunk)[7](index=7&type=chunk) - Part B of the TX45 Phase 1b trial was initiated in March 2025, with topline results expected in the **second half of 2025**[6](index=6&type=chunk)[7](index=7&type=chunk) - The ongoing APEX Phase 2 trial continues to enroll, with topline results expected in **2026**[6](index=6&type=chunk)[7](index=7&type=chunk) [Overview of Financial and Operating Results](index=3&type=section&id=Overview%20of%20Financial%20and%20Operating%20Results) A significant private placement boosted the cash position to $306.2 million, while rising R&D and G&A expenses led to a net loss of $15.9 million Q1 2025 Financial Highlights (in millions) | Financial Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Cash & Cash Equivalents | $306.2 | N/A | Increased from $141.2 at YE 2024 | | Research & Development Expenses | $13.0 | $10.8 | +$2.2M | | General & Administrative Expenses | $5.3 | $2.2 | +$3.1M | | Net Loss | $15.9 | $15.2 | +$0.7M | - Cash and cash equivalents were **$306.2 million** as of March 31, 2025, providing an anticipated cash runway into **Q4 2028**[6](index=6&type=chunk)[13](index=13&type=chunk) - The increase in R&D expenses was primarily due to increased CRO and CDMO costs related to the development of product candidate **TX2100 for HHT**[13](index=13&type=chunk) - The increase in G&A expenses was mainly due to higher audit, legal, professional services, and non-cash stock-based compensation to support operations as a public company[13](index=13&type=chunk) [Pipeline and Corporate Information](index=3&type=section&id=Pipeline%20and%20Corporate%20Information) The company is a clinical-stage biotech developing GPCR-targeted therapies, with lead candidate TX45 targeting PH-HFpEF - Tectonic is a clinical-stage biotechnology company focused on developing therapeutic proteins and antibodies for G-protein coupled receptors (GPCRs) using its proprietary **GEODe™ platform**[2](index=2&type=chunk)[11](index=11&type=chunk) - The lead candidate, **TX45**, is a long-acting Fc-relaxin fusion protein that activates the RXFP1 receptor, mimicking the hormone relaxin's vasodilative, anti-fibrotic, and anti-inflammatory effects[10](index=10&type=chunk) - The company is targeting **Group 2 PH-HFpEF**, a condition caused by left-sided heart disease for which there are no approved medications, with a focus on the more severe **CpcPH subtype** which affects about one-third to one-half of the 1.4 million U.S. patients[9](index=9&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a Q1 net loss of $15.9 million, or ($0.93) per share, on total operating expenses of $18.3 million Condensed Consolidated Statements of Operations (in thousands, except per share data) | | Three Months Ended March 31, | | | :--- | :--- | :--- | | | **2025** | **2024** | | **Operating expenses:** | | | | Research and development | $13,036 | $10,818 | | General and administrative | $5,262 | $2,150 | | **Total operating expenses** | **$18,298** | **$12,968** | | **Loss from operations** | **($18,298)** | **($12,968)** | | Total other income (expense), net | $2,392 | ($2,253) | | **Net loss** | **($15,906)** | **($15,221)** | | **Net loss per share, basic and diluted** | **($0.93)** | **($10.97)** | | Weighted-average common shares outstanding | 17,157,661 | 1,387,303 | [Select Condensed Consolidated Balance Sheet Data](index=7&type=section&id=Select%20Condensed%20Consolidated%20Balance%20Sheet%20Data) The balance sheet reflects significantly increased liquidity, with cash growing to $306.2 million and total assets doubling to $314.8 million Select Condensed Consolidated Balance Sheet Data (in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $306,246 | $141,239 | | Working capital | $296,133 | $135,247 | | Total assets | $314,829 | $152,905 | | Total stockholders' equity | $301,036 | $140,776 |

Core Viewpoint - Tectonic Therapeutic, Inc. reported significant progress in its proprietary pipeline and strengthened its cash position, with over three years of cash runway, while preparing to present key clinical trial data in 2025 [2][5]. Financial and Operating Results - As of March 31, 2025, Tectonic had cash and cash equivalents of $306.2 million, a substantial increase from $141.2 million as of December 31, 2024 [5][17]. - Research and development expenses for Q1 2025 were $13.0 million, up from $10.8 million in Q1 2024, primarily due to increased costs related to the development of TX2100 [13]. - General and administrative expenses rose to $5.3 million in Q1 2025 from $2.2 million in Q1 2024, driven by higher professional service costs and increased employee-related expenses [13]. - The net loss for Q1 2025 was $15.9 million, compared to a net loss of $15.2 million in Q1 2024 [13][15]. Recent Business Highlights - Tectonic announced positive interim results from Part A of the TX45 Phase 1b trial, showing a 17.9% reduction in Pulmonary Capillary Wedge Pressure (PCWP) and over 30% reduction in Pulmonary Vascular Resistance (PVR) in a subpopulation with more severe disease [6][7]. - A private placement raised approximately $185.0 million in February 2025, enhancing the company's financial position [7]. - Enrollment for Part B of the TX45 Phase 1b trial began in March 2025, focusing on patients with Pulmonary Hypertension in Heart Failure with reduced Ejection Fraction (PH-HFrEF) [7]. Upcoming Milestones - Full results from the Phase 1b Part A trial will be presented at the ESC Heart Failure 2025 Congress on May 17, 2025 [6][7]. - Topline results from Part B of the Phase 1b trial are expected in the second half of 2025 [6][7]. - The ongoing APEX Phase 2 trial is expected to yield topline results in 2026 [6][7].

Core Points - Tectonic Therapeutic, Inc. is a clinical-stage biotechnology company focused on developing therapeutic proteins and antibodies targeting G-protein coupled receptors (GPCRs) [1][4] - Alise Reicin, MD, the President and CEO of Tectonic, will present at the Bank of America Securities 2025 Health Care Conference in Las Vegas from May 12-15, 2025 [1][2] - The company will also host one-on-one meetings for interested investors during the conference [2] Company Overview - Tectonic utilizes its proprietary technology platform, GEODe™, to enhance GPCR-targeted drug discovery and aims to develop biologic medicines for significant unmet medical needs [4] - The company is headquartered in Watertown, Massachusetts, and focuses on areas where therapeutic options are limited or non-existent, aiming to improve patient quality of life [4]

Core Insights - Tectonic Therapeutic, Inc. announced a late-breaking oral presentation at the ESC Heart Failure 2025 Congress, focusing on Phase 1b data for TX45, a long-acting relaxin therapy targeting Group 2 PH-HFpEF patients [1][2] Group 1: Company Overview - Tectonic Therapeutic is a clinical-stage biotechnology company specializing in the discovery and development of therapeutic proteins and antibodies that modulate GPCR activity [5] - The company utilizes its proprietary GEODe™ technology platform to develop biologic medicines aimed at addressing significant unmet medical needs [5] Group 2: Product Information - TX45 is an Fc-relaxin fusion protein designed to activate the RXFP1 receptor, exhibiting pharmacokinetics and biophysical properties that enhance its therapeutic potential [3] - Relaxin, the hormone targeted by TX45, functions as a pulmonary and systemic vasodilator with additional anti-fibrotic and anti-inflammatory properties [3] Group 3: Disease Focus - Tectonic is concentrating on Group 2 pulmonary hypertension, specifically PH-HFpEF, which arises from left-sided heart disease and leads to increased pulmonary artery pressure and right-sided heart failure [4] - Approximately one third to one half of the 1.4 million PH-HFpEF patients in the U.S. are affected by the more severe Combined pre- and post-capillary PH (CpcPH) [4]

PART I [Business](index=4&type=section&id=Item%201.%20Business) Tectonic Therapeutic, Inc. is a clinical-stage biotechnology company developing GPCR-targeted biologics using its GEODe™ platform, with lead asset TX45 in Phase 2 for PH-HFpEF and a pipeline including TX2100 for HHT - On June 20, 2024, the company completed a merger with AVROBIO, Inc., changing its name to Tectonic Therapeutic, Inc. and focusing on the business of Legacy Tectonic, a clinical-stage biotech developing GPCR-targeted biologics[14](index=14&type=chunk) - The company's proprietary GEODe™ technology platform is designed to overcome historical challenges in discovering and developing biologic therapeutics for GPCR targets[16](index=16&type=chunk)[18](index=18&type=chunk) Development Pipeline Summary | Program | Target/Mechanism | Indication | Development Stage | | :--- | :--- | :--- | :--- | | **TX45** | Fc-relaxin fusion (RXFP1 agonist) | Group 2 PH in HFpEF (PH-HFpEF) | Phase 2 Initiated | | **TX2100** | GPCR3 Antagonist | Hereditary Hemorrhagic Telangiectasia (HHT) | Preclinical (IND-enabling studies planned) | | **Fibrosis Program** | GPCR Modulator Bispecific | Fibrotic Diseases | Discovery | [Pipeline and Clinical Development](index=5&type=section&id=1.1%20Pipeline%20and%20Clinical%20Development) The company's pipeline features lead asset TX45 in Phase 2 for PH-HFpEF, TX2100 advancing to Phase 1 for HHT, and a discovery-stage fibrosis program, all supported by the GEODe™ platform - The lead asset, TX45, is an Fc-relaxin fusion molecule being developed for Group 2 PH in HFpEF. A Phase 2 trial (APEX) was initiated in Q4 2024, with data expected in 2026[21](index=21&type=chunk)[26](index=26&type=chunk) TX45 Phase 1b Interim Hemodynamic Data (16 of 19 patients) | Endpoint | Result | p-value | | :--- | :--- | :--- | | **Mean Δ PCWP (all participants)** | -2.9 mm Hg | <0.05 | | **Mean Δ PVR (CpcPH, PVR ≥ 3 WU)** | -1.35 Woods Units | <0.05 | | **Mean Δ Cardiac Output (all)** | +0.65 L/min | <0.05 | - The second program, TX2100, is a VHH-Fc fusion antagonist for HHT. The company plans to start IND-enabling toxicology studies in Q2 2025 and initiate a Phase 1 trial in Q4 2025 or Q1 2026[27](index=27&type=chunk)[29](index=29&type=chunk) - The GEODe™ platform has been significantly modified and improved over the last few years, enhancing its success rate in generating high-affinity, potent GPCR-targeted antibodies[19](index=19&type=chunk)[79](index=79&type=chunk) [Collaboration and Manufacturing](index=19&type=section&id=1.2%20Collaboration%20and%20Manufacturing) Tectonic relies on third-party CDMOs like WuXi Biologics for manufacturing and CROs for clinical services, underpinned by a core technology license from Harvard - The company in-licensed core technology from Harvard, paying a one-time fee and stock, with future obligations for annual maintenance fees, low single-digit royalties on net sales, and a percentage of sublicensing income[85](index=85&type=chunk)[86](index=86&type=chunk) - Tectonic does not own manufacturing facilities and relies on third-party CDMOs. A key relationship is with WuXi Biologics for the development and manufacturing of its product candidates in compliance with CGMPs[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) [Intellectual Property and Competition](index=22&type=section&id=1.3%20Intellectual%20Property%20and%20Competition) The company protects its proprietary technology and product candidates, including TX45, through patents expiring no earlier than 2041, while facing competition from major biotech and pharmaceutical firms - The patent portfolio for Fc-relaxin fusion compositions (including TX45) consists of in-licensed and owned applications with expected 20-year expiry dates not earlier than May 2041, November 2042, and May 2044 for different families[102](index=102&type=chunk) - The company faces competition from AstraZeneca, which is also developing a relaxin agonist, and from companies like Vaderis and Diagonal Therapeutics in the HHT space[111](index=111&type=chunk)[112](index=112&type=chunk) [Government Regulation](index=25&type=section&id=1.4%20Government%20Regulation) The company's products are subject to extensive FDA and international regulation, requiring multi-phase clinical trials and BLA submission for approval, with ongoing compliance and potential impacts from biosimilar pathways and drug pricing laws - To gain marketing approval in the U.S., the company must complete preclinical testing, submit an IND, conduct adequate and well-controlled clinical trials (Phases 1-3) under GCP, and submit a BLA to the FDA[117](index=117&type=chunk)[121](index=121&type=chunk) - The BPCIA creates an abbreviated approval pathway for biosimilars, but a reference product like Tectonic's, if approved, could be eligible for a 12-year period of marketing exclusivity in the U.S[150](index=150&type=chunk)[152](index=152&type=chunk) - The Inflation Reduction Act of 2022 (IRA) includes provisions for Medicare to negotiate drug prices for certain biologics after 11 years on the market and imposes rebates for price increases faster than inflation, which may impact future revenue[160](index=160&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including limited operating history, ongoing net losses, funding needs, uncertain clinical development, reliance on third parties, intense competition, and regulatory challenges - **Financial Risk:** The company has a history of net losses (**$58.0 million** in 2024) and will require substantial additional funding to continue operations, which may not be available on favorable terms[187](index=187&type=chunk)[190](index=190&type=chunk) - **Development Risk:** All product candidates are in early development. Clinical trials are expensive and uncertain, and may fail to demonstrate safety or efficacy, preventing regulatory approval[198](index=198&type=chunk)[202](index=202&type=chunk)[207](index=207&type=chunk) - **Reliance on Third Parties:** The company depends on third parties for manufacturing (sole-source for TX45 with WuXi Biologics), conducting clinical trials (CROs), and for licensed intellectual property (Harvard), the loss of which could harm the business[300](index=300&type=chunk)[341](index=341&type=chunk)[344](index=344&type=chunk) - **Regulatory and Commercial Risk:** The company faces a lengthy and unpredictable regulatory approval process and, if approved, must build a commercial organization and achieve market acceptance and reimbursement, which is not guaranteed[227](index=227&type=chunk)[253](index=253&type=chunk)[259](index=259&type=chunk) - **Political and Supply Chain Risk:** Reliance on a Chinese manufacturer (WuXi Biologics) exposes the company to geopolitical risks, such as the proposed BIOSECURE Act, which could disrupt the supply chain for its lead product candidate[284](index=284&type=chunk)[285](index=285&type=chunk)[343](index=343&type=chunk) [Cybersecurity](index=118&type=section&id=Item%201C.%20Cybersecurity) The company manages cybersecurity risks through its IT Department and audit committee oversight, employing threat assessment, mitigation strategies, and vendor management processes - Cybersecurity risk management is handled by the IT Department, led by the VP of IT, and is integrated into the company's overall enterprise risk management program[437](index=437&type=chunk)[440](index=440&type=chunk) - Governance is provided by the board of directors' audit committee, which oversees the cybersecurity risk management processes and receives periodic reports from the VP of IT[445](index=445&type=chunk)[449](index=449&type=chunk) - The company uses vendor management processes to manage cybersecurity risks associated with third-party providers, such as CROs and CDMOs, which may include risk assessments and contractual obligations[442](index=442&type=chunk)[443](index=443&type=chunk) PART II [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=122&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) For 2024, Tectonic reported a **$58.0 million net loss**, driven by increased R&D and G&A expenses, with **$141.2 million** cash on hand, deemed sufficient for the next 12 months Results of Operations Summary (in millions) | | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $41.4 | $37.0 | $4.4 | 12% | | General and administrative | $16.7 | $7.7 | $9.0 | 117% | | **Loss from operations** | **($58.0)** | **($44.6)** | **($13.4)** | **30%** | | **Net loss** | **($58.0)** | **($42.8)** | **($15.2)** | **35%** | - R&D expenses increased by **$4.4 million**, primarily due to a **$4.0 million** increase in costs for the TX2100 program, while TX45 program costs remained stable[486](index=486&type=chunk) - G&A expenses increased by **$9.0 million**, driven by a **$4.8 million** rise in professional and consulting fees for merger activities and public company support, and a **$3.9 million** increase in employee-related costs[487](index=487&type=chunk)[488](index=488&type=chunk) - As of December 31, 2024, the company had **$141.2 million** in cash and cash equivalents and an accumulated deficit of **$148.6 million**. Management believes current cash is sufficient to fund operations for at least the next 12 months[492](index=492&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=134&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate sensitivity on its **$141.2 million** cash and equivalents, though a 10% rate change is not expected to be material, and inflation impact is immaterial - The primary market risk is interest rate sensitivity related to the company's **$141.2 million** in cash and cash equivalents. A 10% change in interest rates is not expected to have a material effect[517](index=517&type=chunk)[518](index=518&type=chunk) - The effects of inflation on the company's results of operations and financial condition are believed to have been immaterial[519](index=519&type=chunk) [Financial Statements and Supplementary Data](index=136&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The consolidated financial statements for 2024 and 2023, reflecting the AVROBIO merger, show a **$58.0 million net loss** in 2024, with Deloitte & Touche LLP providing an unqualified opinion and noting critical audit matters Consolidated Balance Sheet Data (in millions) | | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $141.2 | $28.8 | | Total assets | $152.9 | $39.4 | | Total liabilities | $12.1 | $43.4 | | Total stockholders' equity (deficit) | $140.8 | ($84.6) | Consolidated Statement of Operations Data (in millions) | | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Research and development | $41.4 | $37.0 | | General and administrative | $16.7 | $7.7 | | **Loss from operations** | **($58.0)** | **($44.6)** | | **Net loss** | **($58.0)** | **($42.8)** | | **Net loss per share** | **($6.83)** | **($33.76)** | - The independent auditor, Deloitte & Touche LLP, identified two critical audit matters: (1) the estimation of accrued and prepaid contract research and development expenses, and (2) the evaluation of the accounting for the merger with AVROBIO as a reverse recapitalization[562](index=562&type=chunk)[565](index=565&type=chunk) [Controls and Procedures](index=137&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2024, with no material changes reported - Management concluded that as of December 31, 2024, the company's disclosure controls and procedures were effective[523](index=523&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of December 31, 2024, based on the COSO 2013 framework[524](index=524&type=chunk) PART III [Directors, Executive Compensation, Security Ownership, and Related Transactions](index=138&type=section&id=Items%2010-14) Information for Items 10-14, covering directors, executive compensation, security ownership, and related transactions, is incorporated by reference from the upcoming 2025 proxy statement - Information regarding Directors, Executive Officers, Corporate Governance, Executive Compensation, Security Ownership, Certain Relationships and Related Transactions, and Principal Accounting Fees and Services is incorporated by reference from the definitive proxy statement to be filed within 120 days of December 31, 2024[531](index=531&type=chunk)[533](index=533&type=chunk)[534](index=534&type=chunk)[535](index=535&type=chunk)[536](index=536&type=chunk) PART IV [Exhibits, Financial Statement Schedules](index=139&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists exhibits filed with the Form 10-K, including the Merger Agreement, Subscription Agreement, equity plans, and material contracts like the Harvard license and WuXi Biologics manufacturing agreement - The exhibits include key corporate and transactional documents, such as the Merger Agreement, Subscription Agreement, and various equity and compensation plans[541](index=541&type=chunk) - Material contracts filed as exhibits include the license agreement with Harvard College and the manufacturing services agreement with WuXi Biologics[542](index=542&type=chunk)

Financial Performance - Tectonic experienced a net loss of $12.4 million for Q4 2024, compared to a net loss of $7.9 million for the same period in 2023[11]. - Net loss for Q4 2024 was $12,373,000, compared to a net loss of $7,869,000 in Q4 2023, reflecting a 57.5% increase in losses[18]. - Comprehensive loss for the year ended December 31, 2024, was $57,973,000, compared to $42,834,000 in 2023[18]. - Net loss per share for Q4 2024 was $0.84, compared to $5.01 in Q4 2023[18]. Cash and Assets - Tectonic reported cash and cash equivalents of $141.2 million as of December 31, 2024, with an additional $185.0 million raised in a private placement in February 2025, providing a cash runway into Q4 2028[6]. - Cash and cash equivalents increased significantly to $141,239,000 in 2024 from $28,769,000 in 2023[20]. - Total assets grew to $152,905,000 in 2024, up from $39,399,000 in 2023[20]. - Working capital improved to $135,247,000 in 2024, compared to a negative working capital of $(10,004,000) in 2023[20]. - Total stockholders' equity improved to $140,776,000 in 2024, compared to a deficit of $84,636,000 in 2023[20]. Expenses - Research and development expenses increased to $9.2 million for Q4 2024, up from $7.1 million in Q4 2023, primarily due to higher costs associated with clinical trials[11]. - General and administrative expenses rose to $4.8 million in Q4 2024, compared to $2.3 million in Q4 2023, driven by increased audit, legal, and professional service costs[11]. - Total operating expenses for Q4 2024 were $13,989,000, a 49.5% increase from $9,372,000 in Q4 2023[18]. - Research and development expenses rose to $9,155,000 in Q4 2024, up 29.3% from $7,081,000 in Q4 2023[18]. - Interest income for Q4 2024 was $1,735,000, a significant increase from $132,000 in Q4 2023[18]. Clinical Trials and Research - The TX45 Phase 1b trial interim analysis showed a 17.9% reduction in Pulmonary Capillary Wedge Pressure (PCWP) and over 30% reduction in Pulmonary Vascular Resistance (PVR) in patients with Group 2 Pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF)[7]. - The APEX Phase 2 trial for TX45 is ongoing, with topline results expected in 2026[6]. - The first patient for the TX45 Phase 1b Part B trial was enrolled in March 2025, with results anticipated in the second half of 2025[11]. - Tectonic plans to initiate a Phase 1 clinical trial for TX2100, a GPCR-targeting biotherapeutic for Hereditary Hemorrhagic Telangiectasia (HHT), in Q4 2025 or Q1 2026[11]. - Tectonic presented positive TX45 Phase 1a results at the AHA 2024 Scientific Sessions in November 2024[7]. Events and Engagement - The company hosted a Key Opinion Leader webinar in December 2024 discussing the treatment landscape for patients with Group 2 PH-HFpEF[7].

WATERTOWN, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Tectonic Therapeutic, Inc. (NASDAQ: TECX) ("Tectonic"), a clinical stage biotechnology company focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors ("GPCRs"), today announced financial results for the fourth quarter and full year ended December 31, 2024, and provided an overview of recent business highlights. "2024 was an important year for Tectonic as we transitioned to ...

Core Insights - Tectonic Therapeutic, Inc. is a clinical stage biotechnology company focused on developing therapeutic proteins and antibodies targeting G-protein coupled receptors (GPCRs) [1][5] - The company will participate in two investor conferences in March 2025, providing opportunities for engagement with investors [1][4] Conference Details - Tectonic will present at the TD Cowen 45 Annual Health Care Conference on March 5, 2025, at 9:50 AM EST in Boston, MA, with Alise Reicin, MD, as the presenter [2] - The company will also participate in the Leerink Partners Global Healthcare Conference on March 11, 2025, at 11:20 AM EDT in Miami, FL, featuring Daniel Lochner and Marc Schwabish, PhD, as presenters [3] - Both conferences will include live webcasts accessible on Tectonic's website, with replays available for approximately 90 days post-event [3] Company Overview - Tectonic utilizes its proprietary GEODe™ technology platform to enhance GPCR-targeted drug discovery, aiming to develop biologic medicines for significant unmet medical needs [5] - The company is headquartered in Watertown, Massachusetts, and focuses on areas where therapeutic options are limited, aiming to improve patient quality of life [5]

Core Insights - Tectonic Therapeutics (NASDAQ: TECX) announced positive interim results from its phase 1b study of Fc-fusion protein TX45 for treating patients with Group 2 pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF) [2] Company Overview - Tectonic Therapeutics is involved in developing innovative treatments for pulmonary hypertension, specifically targeting heart failure patients with preserved ejection fraction [2] Research and Analysis - The Biotech Analysis Central service provides in-depth analysis of various pharmaceutical companies, including a library of over 600 biotech investing articles and a model portfolio of more than 10 small and mid-cap stocks [2]

Core Viewpoint - Tectonic Therapeutic, Inc. has announced a private investment in public equity (PIPE) financing expected to generate approximately $185.0 million in gross proceeds [1]. Financing Details - Tectonic will issue a total of 3,689,465 shares of common stock at a price of $50.00 per share for fund investors and $54.14 per share for individual investors who are officers or directors of the company [2]. - The PIPE financing includes participation from both new and existing investors, such as Adage Capital Partners LP, Ally Bridge Group, and others [3]. Use of Proceeds - The net proceeds from the PIPE will be utilized for the clinical development of TX45 and TX2100, discovery platform development, working capital, and other general corporate purposes [5]. Company Overview - Tectonic is a biotechnology company focused on discovering and developing therapeutic proteins and antibodies that modulate G-protein coupled receptors (GPCRs) [8]. - The company leverages its proprietary technology platform, GEODe™, to develop biologic medicines aimed at addressing significant unmet medical needs [8].