Faraz Ali, Tenaya CEO

Tenaya bags $75M from stock sale as it pre­pares to put a gene ther­a­py for heart dis­ease in­to the clin­ic

In its Q3 up­date, Tenaya Ther­a­peu­tics told in­vestors that it’s repri­or­i­tiz­ing the pipeline to ex­tend the run­way un­til 2024 and fo­cus its three lead pro­grams in heart dis­eases — two gene ther­a­pies and one small mol­e­cule drug.

Just days lat­er, though, ex­ecs are bring­ing in a fresh $75 mil­lion haul.

The pro­ceeds from the pub­lic of­fer­ing — to­geth­er with ex­ist­ing cash, cash equiv­a­lents and mar­ketable se­cu­ri­ties of near $150 mil­lion — will fund planned pre­clin­i­cal and clin­i­cal de­vel­op­ment of those most ad­vanced can­di­dates, as well as ear­li­er-stage re­search, plat­form work on AAV cap­sid en­gi­neer­ing and man­u­fac­tur­ing.

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