Tenaya Therapeutics

TNYA

Biotechnology · Healthcare

Price

$0.82

-0.02 (-2.46%)

Market Cap

$136.1M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+270.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 41.3M (2021) → 153.0M (2025)

Tenaya Therapeutics, Inc., a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through cellular regeneration, gene therapy, and precision medicine platforms. The company is developing TN-201, an adeno-associated virus (AAV)-based gene therapy to address genetic hypertrophic cardiomyopathy (gHCM) caused by haploinsufficient myosin binding protein C3 (MYBPC3) gene mutations; and TN-301, a small molecule inhibitor of

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+62.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$69M/ year

↓ Declining (-21% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

6.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~13 months

$81M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

-683.6%

Thin — -683.6% gross margin

Operating Margin

-8917.8%

Losing money on operations — -8917.8%

ROCE

-17.3%

Weak — -17.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-28725.3%

Burning cash (-28725.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.10

Conservative — low debt load (0.10)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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