Tenaya Therapeutics

Q2 FY2026 EarningsQ2 FY2026 results missed consensus on the top and bottom lines: revenue was $1.11M vs. $10.00M expected, and GAAP EPS was -$0.20 vs. -$0.07 expected. The revenue miss reflects slower-than-anticipated recognition of upfront fees from the Alnylam collaboration. Net loss was significantly impacted by a one-time $21.8M non-cash impairment charge related to the early termination of the Union City manufacturing facility lease. While R&D expenses fell 4% YoY due to previous workforce reductions, the heavy impairment loss led to a substantially wider operating loss than anticipated.