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Jun 30, 2025
Taysha Gene Therapies Q2 2025 Earnings Report
Posted a wider net loss in Q2 2025 as clinical advancement of TSHA-102 drove R&D and G&A expenses higher.
Key Takeaways
Taysha Gene Therapies reported a Q2 2025 net loss of $26.9M, driven by increased R&D and legal expenses tied to the REVEAL trial and regulatory preparations. Revenue was $2.0M, while cash reserves rose to $312.8M after a $230M follow-on offering.
Net loss was $26.9M or $0.09 per share, flat versus Q2 2024 despite higher expenses.
R&D expenses rose to $20.1M due to manufacturing and trial-related costs.
Cash and cash equivalents totaled $312.8M, supporting operations into 2028.
Site activation for the REVEAL pivotal trial commenced, with patient enrollment expected in Q4 2025.
Forward Guidance
Taysha expects to begin patient enrollment in the REVEAL pivotal trial in Q4 2025 and report new TSHA-102 clinical data by year-end, with a cash runway extending into 2028.
Positive Outlook
- Site activation for REVEAL pivotal trial has begun following regulatory feedback
- Patient enrollment anticipated in Q4 2025 for Rett syndrome trial
- Clinical data from Part A showed 100% response rate on primary endpoint
- Gross proceeds of $230M from public follow-on offering bolstered balance sheet
- Cash runway extended into 2028
Challenges Ahead
- Q2 net loss increased compared to prior year due to rising R&D and legal costs
- No disease-modifying Rett syndrome therapies yet approved
- Dependence on success of single candidate TSHA-102 for near-term growth
- Execution risk remains in regulatory alignment and trial enrollment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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