Tectonic Therapeutic, Inc.
Business
Tectonic Therapeutic is a clinical-stage biotechnology company focused on discovering and developing therapeutic proteins and antibodies that modulate G-protein coupled receptors (GPCRs) using its proprietary GEODe™ platform. The company's lead asset, TX45, is an Fc-relaxin fusion molecule in Phase 2 development for pulmonary hypertension associated with heart failure; its second program, TX2100, is a VHH-Fc fusion antagonist antibody targeting the APJ receptor for hereditary hemorrhagic telangiectasia, currently in Phase 1a trials. Tectonic operates as a biologic drug developer with no manufacturing facilities, relying on contract development and manufacturing organizations such as WuXi Biologics for production.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 63 | 41 | 37 | 72 | 83 | |
| General and administrative | 21 | 17 | 8 | 33 | 36 | |
| Total operating expenses | 84 | 58 | 45 | 105 | 119 | |
| Loss from operations | −84 | −58 | −45 | −105 | −119 | |
| Interest income | 11 | 4 | 581,000 | — | — | |
| Interest expense | −63,000 | −107,000 | −152,000 | — | — | |
| Change in fair value of SAFE liabilities | 0 | −4 | 1 | — | — | |
| Other expense | −119,000 | −511,000 | 396,000 | — | — | |
| Total other income, net | 11 | 33,000 | 2 | −456,000 | −285,000 | |
| Loss before income tax | −73 | −58 | — | — | — | |
| Income tax expense | −1 | 0 | 377,000 | 0 | — | |
| Net loss | −74 | −58 | −43 | −106 | −119 | |
| Foreign currency translation adjustment | −105,000 | 9,000 | −11,000 | — | — | |
| Comprehensive loss | −74 | −58 | −43 | — | — | |
| Net loss per share, basic | −4.05 | −6.83 | −33.76 | −2.42 | −2.78 | |
| Net loss per share, diluted | −4.05 | −6.83 | −33.76 | −2.42 | −2.78 | |
| Weighted-average common shares outstanding, basic | 18 | 8 | 1 | 44 | 42,854 | |
| Weighted-average common shares outstanding, diluted | 18 | 8 | 1 | 44 | 42,854 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 254 | 141 | 29 | 93 | 190 | |
| Prepaid expenses and other current assets | 3 | 6 | 2 | 7 | 10 | |
| Restricted cash | 587,000 | 0 | 283,000 | 283,000 | 0 | |
| Total current assets | 257 | 147 | 31 | 100 | 199 | |
| Property and equipment, net | 1 | 2 | 3 | 3 | 4 | |
| Finance right-of-use assets, net | 495,000 | 919,000 | 1 | — | — | |
| Operating right-of-use assets | 874,000 | 2 | 3 | 1 | 1 | |
| Restricted cash | 485,000 | 587,000 | 587,000 | 0 | 492,000 | |
| Other assets | 640,000 | 156,000 | 31,000 | 40,000 | 74,000 | |
| Total assets | 261 | 153 | 39 | 104 | 204 | |
| Accounts payable | 1 | 976,000 | 409,000 | 384,000 | 3 | |
| Accrued expenses and other current liabilities | 7 | 8 | 8 | 12 | 16 | |
| Operating lease liability | 889,000 | 2 | 1 | 999,000 | 0 | |
| Finance lease liability | 344,000 | 489,000 | 475,000 | — | — | |
| Total current liabilities | 10 | 12 | 41 | 13 | 19 | |
| Operating lease liability, non-current | 0 | 132,000 | 2 | 188,000 | 0 | |
| Finance lease liability, non-current | 43,000 | 387,000 | 876,000 | — | — | |
| Total liabilities | 10 | 12 | 43 | 29 | 34 | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value; 150,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 18,713,223 and 14,856,309 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 2,000 | 2,000 | 0 | 4,000 | 4,000 | |
| Additional paid-in capital | 474 | 289 | 6 | — | — | |
| Accumulated other comprehensive (loss) income | −96,000 | 9,000 | −11,000 | — | — | |
| Accumulated deficit | −223 | −149 | −91 | −489 | −384 | |
| Total stockholders' equity | 251 | 141 | −85 | −46 | 169 | |
| Total liabilities and stockholders' equity | 261 | 153 | 39 | 104 | 204 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −74 | −58 | −43 | −106 | −119 | |
| Depreciation and amortization expense | 1 | 2 | 1 | 1 | 1 | |
| Stock-based compensation expense | 10 | 3 | 1 | 12 | 19 | |
| Loss on sale of property and equipment | 153,000 | 0 | 9,000 | 59,000 | 0 | |
| Reduction in the carrying amount of the operating right-of-use assets | 2 | 434,000 | — | — | — | |
| Prepaid expenses and other current assets | 3 | −3 | −1 | 2 | −2 | |
| Other non-current assets | 17,000 | 544,000 | −5,000 | — | — | |
| Accounts payable | 116,000 | −1 | −165,000 | −3 | 804,000 | |
| Accrued expenses and other current liabilities | −552,000 | −6 | 2 | −4 | 2 | |
| Operating lease liabilities | −2 | −565,000 | −950,000 | — | — | |
| Net cash used in operating activities | −60 | −59 | −41 | −97 | −98 | |
| Purchase of property and equipment | −208,000 | −156,000 | −279,000 | −267,000 | −2 | |
| Proceeds from the sale of property and equipment | 70,000 | 0 | — | — | — | |
| Net cash used in investing activities | −138,000 | −156,000 | −279,000 | −267,000 | −2 | |
| Proceeds from the private placement, net of offering costs of $11,928 | 173 | 0 | — | — | — | |
| Proceeds from the Subscription Agreement, net of offering costs of $2,000 | 0 | 95 | — | — | — | |
| Cash acquired in connection with the Merger, net of transaction costs of $7,412 | 0 | 76 | — | — | — | |
| Proceeds from exercise of stock options | 1 | 2 | 121,000 | 58,000 | 920,000 | |
| Payments for employee taxes related to net share settlement of equity awards | −17,000 | 0 | — | — | — | |
| Payment of deferred offering costs | −468,000 | 0 | — | — | — | |
| Repayment of finance lease obligations | −489,000 | −475,000 | −499,000 | — | — | |
| Net cash provided by financing activities | 173 | 172 | 34 | 262,000 | 30 | |
| Effect of exchange rate changes on cash and cash equivalents | −95,000 | −8,000 | 16,000 | — | — | |
| Net increase in cash and cash equivalents and restricted cash | 113 | 112 | −7 | −97 | −70 | |
| Deferred offering costs included in accrued expenses and other liabilities | 35,000 | 0 | — | — | — | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 757,000 | 0 | — | — | — | |
| Conversion of SAFEs to Common Stock | 0 | 34 | — | — | — | |
| Conversion of Convertible Preferred Stock to Common Stock | 0 | 81 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Tectonic Therapeutic, Inc.'s CIK number?
Tectonic Therapeutic, Inc.'s SEC CIK number is 0001681087 (1681087). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Tectonic Therapeutic, Inc.'s SEC filings?
All of Tectonic Therapeutic, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Tectonic Therapeutic, Inc. last report earnings?
Tectonic Therapeutic, Inc. (TECX) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-212069). This is Tectonic Therapeutic, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Tectonic Therapeutic, Inc.'s most recent earnings 8-K?
Tectonic Therapeutic, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-212069. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Tectonic Therapeutic, Inc.'s latest earnings 8-K →
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