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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