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Tectonic Therapeutic, Inc.

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
490 Arsenal Way, Suite 210, Watertown, MA, 02472, United States
N/A
tectonictx.com
Market Cap
$351.87M
P/E (TTM)
-5.2
38.2
Dividend Yield
--
52W High
$61.07
52W Low
$13.70
52W Range
11%
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)

Vanda Pharmaceuticals Inc.VNDA
$212.07M
+11.1%
Alector, Inc.ALEC
$69.05M
+12.3%
scPharmaceuticals Inc.SCPH
$49.97M
+107.8%

Gross Margin (Latest Quarter)

Alector, Inc.ALEC
100.0%
+0.0pp
AC Immune SAACIU
100.0%
+0.0pp
Vanda Pharmaceuticals Inc.VNDA
94.7%
+0.1pp

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/A

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-1.07-75.3%
    N/A

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.93-48.9%
    N/A

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 20, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-3.93+66.1%
    N/A

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-3.11+357.4%
    N/A

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 14, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-4.34-123.7%
    N/A

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-1.82-73.2%
    N/A

  • Form 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