Tenaya Therapeutics(TNYA) - 2024 Q3 - Quarterly Results

Financial Position - As of September 30, 2024, Tenaya Therapeutics reported cash, cash equivalents, and investments in marketable securities of $79.5 million, sufficient to support operations into the second half of 2025[6]. - In August 2024, Tenaya entered into a$45 million credit facility with Silicon Valley Bank, which has not been drawn upon[5]. Expenses - Research and Development (R&D) expenses for Q3 2024 were $20.4 million, a decrease from$23.1 million in Q3 2023, while General & Administrative (G&A) expenses were $6.4 million, down from$7.8 million in the same period[6]. Net Loss - The net loss for Q3 2024 was $25.6 million, or$0.30 per share, compared to a net loss of $29.1 million, or$0.39 per share, for Q3 2023[6]. Clinical Trials - Tenaya completed dosing of the first three patients at the 3E13 vg/kg dose in the MyPEAK-1 clinical trial with no unexpected events or toxicities observed[3]. - The Data Safety and Monitoring Board (DSMB) endorsed the dose escalation to 6E13 vg/kg for Cohort 2 in the MyPEAK-1 study[3]. - Tenaya anticipates sharing interim results from MyPEAK-1, including safety and tolerability analyses, in December 2024[3]. - Tenaya activated six clinical sites for the RIDGE-1 trial, assessing TN-401 for ARVC, and has over 20 sites activated in six countries for the RIDGE seroprevalence and natural history study[4]. Regulatory Designation - The TN-201 gene therapy received rare pediatric disease designation from the FDA for treating MYBPC3-associated HCM in individuals under 18[3]. Intellectual Property - The U.S. Patent and Trademark Office issued U.S. Patent Number 12,104,165 for a method of treating ARVC with Tenaya's PKP2 gene therapy, expected to expire no earlier than 2040[4].