Tenaya Therapeutics reports Q3 EPS (74c), consensus (64c)

As of September 30, cash, cash equivalents and investments in marketable securities were $149.5M. Through prioritization of certain R&D and manufacturing expenditures, plus management of future headcount growth, Tenaya expects existing funds to extend the company’s cash runway to mid-2024. "The initiation of our first clinical trial for TN-301 during the third quarter was a major milestone marking our transition to a clinical-stage company. Our unwavering commitment to improve the lives of those affected by heart disease also requires careful management of finite resources and prioritization of portfolio opportunities," said Faraz Ali, CEO of Tenaya. "With the extension of our cash runway to mid-2024, we believe we can reach meaningful milestones for our more advanced product candidates, TN-201, TN-301 and TN-401, and still continue to selectively invest in research efforts to advance our deep pipeline of earlier-stage programs."