TD Cowen analyst Ritu Baral has maintained their bullish stance on TNYA stock, giving a Buy rating on August 7.
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Ritu Baral has given her Buy rating due to a combination of factors including Tenaya Therapeutics’ promising financial position and the progress in their clinical trials. The company reported a net loss for the second quarter of 2025, but with a cash reserve of $71.7 million and a restructuring plan in place, they have extended their financial runway into the second half of 2026. This financial stability is a key factor in the Buy rating.
Additionally, Tenaya’s clinical trials are showing positive results. The MyPEAK-1 study, which investigates the ‘201 gene therapy for MYBPC3-HCM patients, has demonstrated promising safety and efficacy data. The expansion of trial criteria and the positive interim results, including good cardiac expression and functional improvements, further support the potential success of their therapeutic programs. These clinical advancements contribute to the optimistic outlook and Buy rating for Tenaya Therapeutics.