Tenaya Therapeutics

What Tenaya Therapeutics does

Tenaya Therapeutics is a publicly traded, clinical-stage biotechnology company founded in 2016 and headquartered in South San Francisco, California (NASDAQ: TNYA). The company develops disease-modifying therapies for genetic and rare cardiac diseases, targeting conditions such as MYBPC3-associated hypertrophic cardiomyopathy (HCM), PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC), heart failure with preserved ejection fraction (HFpEF), and Duchenne muscular dystrophy (DMD)-associated cardiomyopathy. Its mission is to address the underlying genetic drivers of heart disease rather than manage symptoms, and it serves patient populations for which no disease-modifying therapies currently exist.

The company's pipeline rests on three programs: TN-201 (an AAV9-based gene therapy delivering a functional MYBPC3 gene via cardiac-specific promoter, in Phase 1b/2 MyPEAK-1); TN-401 (an AAV9-based gene therapy delivering PKP2, in Phase 1b RIDGE-1); and TN-301 (a selective HDAC6 small molecule inhibitor advancing toward Phase 2). The platform combines capsid engineering (AAV DNA Shuffle Library), an in-house cGMP manufacturing facility using Sf9 cell culture, and early-stage gene editing work for PLN-R14del cardiomyopathy. The company is pre-revenue with no approved products; full-year 2025 net loss was approximately $90.6 million and 2024 net loss was $111.1 million.

Tenaya funds operations almost entirely through public equity offerings and non-dilutive capital. Between November 2022 and December 2025 it raised roughly $237.5 million across four post-IPO offerings, supplemented by an $8 million CIRM clinical grant (February 2025) and a March 2026 multi-target research collaboration with Alnylam Pharmaceuticals ($10 million upfront plus up to $1.13 billion in potential milestones across up to 15 gene targets, with Alnylam assuming development and commercialization). Its products have secured FDA Fast Track, Orphan Drug, and Rare Pediatric Drug Designations as well as EMA PRIME designation. The company has not yet disclosed a commercial go-to-market motion, and revenue is presently limited to upfront/milestone receipts rather than product sales.

Name

Tenaya Therapeutics

Legal name

Tenaya Therapeutics, Inc.

Website

https://tenayatherapeutics.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Tenaya Therapeutics is a clinical-stage biotechnology company developing AAV9-based gene therapies (TN-201, TN-401) and a small molecule HDAC6 inhibitor (TN-301) for genetic heart diseases, including hypertrophic and arrhythmogenic right ventricular cardiomyopathies and Duchenne muscular dystrophy.

Ownership category

akta.pro rank

Product category

Cardiac gene therapy biotechnology

NAICS

Scientific Research and Development Services (5417)

akta.pro primary industry

AAV Vector Gene Therapy Developers (HLAAACAA)

akta.pro secondary industry

Gene Therapy for Rare/Monogenic Diseases (HLAAACAE)

Keywords

• Cardiac gene therapy
• AAV9 gene delivery
• Cardiomyopathy therapeutics
• Small molecule HDAC inhibitors
• Regenerative medicine

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Research Collaboration Milestone Revenue (Alnylam): Multi-target research collaboration with Alnylam Pharmaceuticals receiving $10 million upfront and potential milestone payments up to $1.13 billion if all 15 gene targets progress to approved therapeutics; Alnylam assumes development and commercialization responsibility.
2. Pre-Revenue (Clinical Stage): Company is pre-revenue with no approved products; clinical-stage biotechnology company focused on gene therapies (TN-201, TN-401, TN-301) in Phase 1b/2 trials. No commercial product sales revenue.
3. Clinical Grant Funding: Received $8 million clinical grant from California Institute for Regenerative Medicine (CIRM) to support RIDGE-1 Phase 1b trial of TN-401 gene therapy.
4. Public Equity Offerings: Multiple public equity offerings to fund clinical development: $86.25M (Nov 2022), $50M (Feb 2024), $52.5M (Mar 2025), $60M (Dec 2025) — used to fund operations, R&D and clinical programs.

Pricing tiers

Go-to-market motion4 records

Core offering

Tenaya Therapeutics is a clinical-stage biotechnology company developing investigational therapies for heart disease. Its pipeline comprises AAV9-based gene therapies TN-201 (for MYBPC3-associated hypertrophic cardiomyopathy) and TN-401 (for PKP2-associated arrhythmogenic right ventricular cardiomyopathy), along with TN-301, a selective HDAC6 small molecule inhibitor being advanced for heart failure with preserved ejection fraction and Duchenne muscular dystrophy. The company leverages an in-house cGMP manufacturing facility and capsid engineering capabilities to produce cardiac-targeted genetic medicines.

Product overview

Tenaya Therapeutics is a clinical-stage biotechnology company developing a portfolio of distinct investigational therapies for heart disease. The pipeline comprises three drug candidates: TN-201, an AAV9-based gene therapy in Phase 1b/2 (MyPEAK-1) for MYBPC3-associated hypertrophic cardiomyopathy; TN-401, an AAV9-based gene therapy in Phase 1b (RIDGE-1) for PKP2-associated arrhythmogenic right ventricular cardiomyopathy; and TN-301, a small molecule selective HDAC6 inhibitor advancing toward Phase 2 for heart failure with preserved ejection fraction and Duchenne muscular dystrophy. The gene therapies TN-201 and TN-401 share Tenaya's AAV9 capsid delivery platform with cardiac-specific promoters, while TN-301 represents a separate small molecule modality addressing cardiac disease through epigenetic regulation.

Differentiator

Problem solved

Functional benefit

Products and services

• TN-201 AAV9-based gene therapy delivering a working MYBPC3 gene to cardiomyocytes via a one-time intravenous infusion to address the underlying genetic cause of MYBPC3-associated hypertrophic cardiomyopathy (HCM) in adults. Currently in Phase 1b/2 (MyPEAK-1) clinical development; has received FDA Fast Track, Orphan Drug, and Rare Pediatric Drug Designations, plus orphan medicinal product status from the European Commission and PRIME designation from the European Medicines Agency.
• TN-401 AAV9-based gene therapy designed to deliver a working PKP2 gene to the heart to restore plakophilin-2 protein levels and halt disease progression in adults with PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC). Currently in Phase 1b (RIDGE-1) clinical development; has received FDA Orphan Drug and Fast Track Designations plus PRIME designation from the European Medicines Agency.
• TN-301 Selective HDAC6 (histone deacetylase 6) inhibitor with a multi-pronged mechanism of action that includes modifying proteins to coordinate cellular processes. Being developed for heart failure with preserved ejection fraction (HFpEF) and Duchenne muscular dystrophy (DMD). Phase 1 clinical trial in healthy volunteers was completed with TN-301 being generally well tolerated, showing dose-proportional pharmacokinetics supportive of once-daily dosing and robust HDAC6 inhibition; plans to advance to Phase 2.

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lexeo Therapeutics: Clinical-stage gene therapy company developing AAV-based therapies for genetic cardiac diseases, including programs targeting HCM and other inherited cardiomyopathies — the most direct head-to-head competitor to Tenaya's TN-201/TN-401.
• Rocket Pharmaceuticals: Clinical-stage gene therapy company with an AAV cardiac program (RP-A601 for PKP2-associated ARVC) that directly overlaps with Tenaya's TN-401 indication, alongside other AAV gene therapies for rare diseases.
• Regenxbio: Clinical and commercial-stage AAV gene therapy platform company with NAV Technology capsids used in cardiac and other gene therapies; comparable AAV capsid engineering capabilities and pipeline breadth.
• Lexeo Therapeutics: (Duplicate omitted to maintain 10 distinct peers.)

Broad incumbents

• BioMarin Pharmaceutical: Established rare-disease biotech with commercial gene therapy infrastructure (Roctavian) and a track record of developing and commercializing AAV-based therapies for ultra-rare genetic conditions — comparable go-to-market and regulatory pathway context.
• Cytokinetics: Late-stage cardiovascular biotech with cardiac myosin modulator (aficamten) for HCM, targeting the same MYBPC3-associated HCM patient population as Tenaya's TN-201 but with a small-molecule, chronic-dosing approach.
• Bristol Myers Squibb (Myocardia): Acquired MyoKardia and commercializes mavacamten for obstructive HCM; competes for the same prescribers, patients, and clinical-data narrative in HCM that Tenaya is building with TN-201.

Emerging players

• Intellia Therapeutics: Clinical-stage in vivo CRISPR gene editing company with cardiac pipeline ambition; comparable in applying a novel modality (CRISPR vs. AAV gene replacement) to genetic cardiac disease.
• uniQure: Clinical-stage AAV gene therapy company with manufacturing infrastructure and pipeline overlap in rare genetic disease; comparable modality, scale, and clinical-stage profile.

Others

• Alnylam Pharmaceuticals: SiRNA-based genetic medicine leader and Tenaya's research collaboration partner ($10M upfront, up to $1.13B in milestones across 15 cardiac targets); adjacent modality for the same cardiac genetic targets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=ikHkINl3C6E
• Facebookfacebook.com/communitystandards
• Xx.com/TenayaThera
• LinkedInlinkedin.com/company/tenaya-therapeutics

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds8 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tenaya Therapeutics