Tenaya Therapeutics, Inc. (Nasdaq: TNYA), a clinical-stage biotechnology company dedicated to developing potentially curative therapies for heart disease, has announced the pricing of its underwritten public offering. The company is offering 75,000,000 units, expecting to raise approximately $52.5 million before underwriting discounts, commissions, and other expenses.

Offering Details

Each unit in the offering is priced at $0.70 and consists of:

• One share of common stock
• A Series A warrant to purchase one additional share of common stock at $0.80 per share (exercisable immediately and valid for five years)
• A Series B warrant to purchase one-half of a share of common stock at $0.70 per share (exercisable immediately and expiring on June 30, 2026)

The securities in the units are immediately separable and will be issued separately. Tenaya anticipates closing the offering around March 5, 2025, pending customary closing conditions.

Leerink Partners and Piper Sandler are serving as joint book-running managers for the transaction.

Strategic Use of Proceeds

Tenaya intends to utilize the net proceeds to advance its clinical and early-stage product pipeline, with a particular focus on TN-201 and TN-401. The funding will also support working capital and other general corporate purposes.

• TN-201: A gene therapy for MYBPC3-associated hypertrophic cardiomyopathy (HCM)
• TN-401: A gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC)
• TN-301: A small molecule HDAC6 inhibitor for heart failure with preserved ejection fraction (HFpEF)
• Additional preclinical programs in genetic medicine for cardiovascular diseases

About Tenaya Therapeutics

Tenaya Therapeutics is committed to pioneering novel genetic medicines for cardiovascular disease. The company integrates advanced capsid engineering, target validation, and manufacturing capabilities to develop innovative treatments for both rare and prevalent heart conditions. With a robust pipeline of gene therapies and small molecule drugs, Tenaya aims to address the root causes of heart disease and improve patient outcomes.

Forward-Looking Statements

This announcement includes forward-looking statements concerning the offering, expected proceeds, and the intended use of funds. Such statements involve risks and uncertainties, including market conditions and regulatory approvals. Investors are encouraged to review Tenaya’s latest SEC filings, including the Quarterly Report on Form 10-Q (November 6, 2024), for a comprehensive risk assessment.