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Sep 30, 2023
Taysha Gene Therapies Q3 2023 Earnings Report
Taysha Gene Therapies reported financial results for the third quarter ended September 30, 2023, and provided corporate and clinical updates.
Key Takeaways
Taysha Gene Therapies reported a net loss of $117.1 million for the third quarter of 2023, driven by a non-cash expense related to a change in the fair value of warrant liability. The company's cash and cash equivalents totaled $164.3 million as of September 30, 2023, expected to fund operations into 2026.
Data from first adult patient in REVEAL Phase 1/2 trial showed TSHA-102 was well-tolerated with sustained improvement across key efficacy measures.
Data from second adult patient showed TSHA-102 was well-tolerated with improvement across key efficacy measures.
IDMC provided clearance to dose third adult patient based on available data; dosing expected in Q4 2023/Q1 2024.
Entered into loan and security agreement with Trinity Capital that extends cash runway into 2026 and includes no financial covenants or warrants.
Forward Guidance
Taysha anticipates several milestones in the near term, including dosing the third adult patient in the REVEAL trial, further updates on clinical data from the low dose cohort, dosing the first pediatric Rett syndrome patient in the U.S., and a response from the U.K. MHRA regarding the Clinical Trial Application for TSHA-102.
Positive Outlook
- Dosing of third adult patient and completion of dosing in cohort one (low dose) in the adult trial in Canada anticipated in the fourth quarter of 2023/first quarter of 2024
- Further updates on available clinical data from the low dose cohort expected in the first quarter of 2024
- Dosing of first pediatric Rett syndrome patient in the U.S. anticipated in the first quarter of 2024
- U.K. Medicines and Healthcare products Regulatory Agency (MHRA) response to Clinical Trial Application (CTA) for TSHA-102 in pediatric patients with Rett syndrome expected by year-end 2023
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