Tenaya Therapeutics (TNYA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Tenaya Therapeutics

NasdaqCM•Healthcare•Biotechnology

$0.68-0.01(-0.02%)Market closed

Market Cap

$146.21M

P/S

109.5x

P/B

2.1x

Tenaya Therapeutics, Inc., a clinical-stage biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. Its lead product candidate includes TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy that is in Phase 1b/2 clinical trial; TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy, which is in Phase 1b/2 clinical trial; and TN-301, a small molecule histone deacetylase-6 for heart failure with preserved ejection fraction that is in phase 1 clinical trial. The company develops its products through gene addition, gene editing, gene silencing, and cellular regeneration. It has a research collaboration agreement with Alnylam Pharmaceuticals, Inc. to identify and validate novel gene targets for the potential treatment of cardiovascular disease. Tenaya Therapeutics, Inc. was incorporated in 2016 and is headquartered in South San Francisco, California.

How this company scores

AverageMetricSide Score: 40/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (8/25).

Profitability9/25

Growth8/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Interest easily coveredNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 109.5x5y range 109.5x – 597.6x

P/B · 2.1x5y range 0.4x – 3.1x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $146.21M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.33M
Q. Revenue: $1.11M
TTM EBITDA: $-98.71M
TTM Op. Income: $-105.86M
Q. Op. Income: $-44.09M
TTM Net Income: $-103.11M
Q. Net Income: $-43.39M
EPS: $-0.2
Shares Out.: $217.57M

$1.33M in TTM revenue grew from zero YoY, reaching $1.11M last quarter. TTM EBITDA of $-98.71M and TTM operating income of $-105.86M show growth is flowing through to the bottom line. However, net income is negative at $103.11M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -3818.9%
Op. Margin: -3971.9%
Net Margin: -3909.3%

Op. margin of -3971.9% is up 2408196028.1% YoY — cost efficiency is improving. Net margin at -3909.3% Across the last 8 quarters, operating margin has risen for 5 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 109.5x
P/B Ratio: 2.1x

P/S of 109.5x and P/B of 2.1x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $93.54M
Cash: $78.08M
Long-Term Debt: N/A
Book Value: $69.41M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-3.55M
TTM Free Cash Flow: $-52.59M
FCF Margin: -3939.2%
FCF / Net Income: 0.5

TTM FCF of $-52.59M on $-3.55M in operating cash flow. The FCF / Net Income ratio of 0.5x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.