Tectonic Therapeutic, Inc.
NASDAQ•TECX
CEO: Dr. Alise S. Reicin M.D., Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date:
Tectonic Therapeutic, Inc., a clinical stage biotechnology company focuses on the discovery and development of therapeutic proteins and antibodies to modulate the activity of G-protein coupled receptors(GPCRs). It offers GEODe technology platform to enable the discovery and development of GPCR-targeted biologic medicines. The company's pipeline products include RXFP1 agonist, which is in ongoing phase 1a and 1b for the indication of heart failure with preserved ejection fraction; GPCR antagonist for indication of hereditary hemorrhagic telangiectasia; bi-functional GPCR modulator for indication of fibrosis; and GPCR modulators. Tectonic Therapeutic, Inc. is based in Watertown, Massachusetts.
Contact Information
Market Cap
$351.87M
P/E (TTM)
-5.2
38.2
Dividend Yield
--
52W High
$61.07
52W Low
$13.70
52W Range
Rank58Top 85.6%
2.3
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025
Financial Dashboard
Q3 2025 Data
Revenue
$0.00+0.00%
4-Quarter Trend
EPS
-$1.02-67.20%
4-Quarter Trend
FCF
-$18.00M-8.91%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
R&D Spending Rises Sharply Nine-month R&D expenses reached $47.1M, increasing 46% versus prior year, driven by TX45/TX2100 development.
Cash Position Strong Post-Financing Cash and equivalents totaled $268.4M as of September 30, 2025, following $173.1M in February 2025 private placement proceeds.
Operating Loss Widens Nine-month net loss was $(54.9)M, up 18% compared to $(45.6)M loss reported for the same period in 2024.
Clinical Progress TX45/TX2100 TX45 showed positive hemodynamic effects in PH-HFrEF trial; TX2100 Phase 1 trial planned for Q1 2026 initiation.
Risk Factors
Substantial Future Funding Required Expect continued net losses and substantial expense increases; failure to secure capital may delay or eliminate product development.
Clinical Trial Uncertainty High Product candidates are early stage; clinical trials are lengthy, expensive, and success in later stages is not guaranteed.
Reliance on Third-Party Manufacturing Sole-source reliance on WuXi Biologics for TX45 supply chain poses disruption risk; compliance failure is possible.
Intellectual Property Protection Costs Protecting proprietary technology is costly and complex; patent validity and enforceability face ongoing legal challenges globally.
Outlook
TX45 Phase 2 Results Expected Topline results for the ongoing global APEX Phase 2 TX45 trial are anticipated in 2026 for PH-HFpEF subjects.
TX2100 Clinical Trial Initiation Plan to initiate Phase 1 clinical trial for TX2100 in healthy volunteers during the first quarter of 2026.
Increased G&A Public Company Costs Expect G&A expenses to increase due to ongoing costs associated with operating as a public company structure.
Advance TX45 PH-ILD Trial Plan to initiate a 16-week, repeat dose Phase 2 trial for TX45 in PH associated with Interstitial Lung Disease in 2026.
Peer Comparison
Revenue (TTM)
$212.07M
ALEC$69.05M
$49.97M
Gross Margin (Latest Quarter)
ALEC100.0%
ACIU100.0%
94.7%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CAPR | $1.11B | -13.6 | -71.0% | 11.5% |
| VNDA | $441.45M | -5.2 | -16.8% | 1.0% |
| ACIU | $353.11M | -3.9 | -83.5% | 2.7% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention
Research & Insights
Next earnings:Mar 19, 2026
EPS:-$1.11
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 6, 2025|Revenue: $0.00+0.0%|EPS: $-1.02-67.2%N/AForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 7, 2025|Revenue: $0.00+0.0%|EPS: $-1.07-75.3%N/AForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $0.00+0.0%|EPS: $-0.93-48.9%N/AForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Mar 20, 2025|Revenue: $0.00+0.0%|EPS: $-3.93+66.1%N/AForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 12, 2024|Revenue: $0.00+0.0%|EPS: $-3.11+357.4%N/AForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 14, 2024|Revenue: $0.00+0.0%|EPS: $-4.34-123.7%N/AForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 9, 2024|Revenue: $0.00+0.0%|EPS: $-1.82-73.2%N/AForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Mar 14, 2024|Revenue: $0.00+0.0%|EPS: $-11.59+60.1%N/A