Tenaya Therapeutics, Inc. Segments Disclosure
Note 12. Segment Reporting
The Company is a clinical-stage biotechnology company focused on discovering, developing and delivering curative therapies that address the underlying drivers of heart disease and has one operating and reportable segment. The Company’s chief operating decision marker (CODM) is the .
The statement of operations includes research and development expenses, general and administrative expenses, interest income, and income taxes; the Company has not generated any revenue. In addition to reviewing the expenses in the Company’s statement of operations, the CODM is regularly provided with operating expenses by function. The CODM does not review assets at a different asset level or category than the amounts disclosed in the Company’s balance sheet. The Company’s long-lived assets are located in the United States.
The following table provides information about the Company’s operating expenses by function and includes a reconciliation to net loss.
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Operating expenses: |
|
|
|
|
|
|
||
Research and development |
|
|
|
|
|
|
||
Clinical |
|
$ |
19,944 |
|
|
$ |
26,024 |
|
Manufacturing (pre-commercial) |
|
|
17,715 |
|
|
|
23,433 |
|
Research |
|
|
16,469 |
|
|
|
20,858 |
|
Other |
|
|
14,479 |
|
|
|
16,427 |
|
Total Research and development |
|
$ |
68,607 |
|
|
$ |
86,742 |
|
General and administrative |
|
|
24,724 |
|
|
|
29,206 |
|
Total operating expenses |
|
|
93,331 |
|
|
|
115,948 |
|
Loss from operations |
|
|
(93,331 |
) |
|
|
(115,948 |
) |
Other income, net: |
|
|
|
|
|
|
||
Interest income |
|
|
2,682 |
|
|
|
4,737 |
|
Other income, net |
|
|
52 |
|
|
|
82 |
|
Total other income, net |
|
|
2,734 |
|
|
|
4,819 |
|
Net loss before income tax expense |
|
|
(90,597 |
) |
|
|
(111,129 |
) |
Income tax expense |
|
|
— |
|
|
|
— |
|
Net loss |
|
$ |
(90,597 |
) |
|
$ |
(111,129 |
) |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 11, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.