Tectonic Therapeutic, Inc. (TECX)
Tectonic Therapeutic, Inc. operates as a clinical-stage biotechnology firm dedicated to the identification and progression of biologic therapies, primarily therapeutic proteins and antibodies, that regulate the function of G-protein coupled receptors (GPCRs). The company leverages its proprietary GEODe technology platform to facilitate the discovery and development of these GPCR-targeted medicines. Its robust pipeline includes an RXFP1 agonist, currently undergoing Phase 1a and 1b clinical trials for the treatment of heart failure with preserved ejection fraction. Additional programs encompass a GPCR antagonist addressing hereditary hemorrhagic telangiectasia, a bi-functional GPCR modulator aimed at fibrosis, and various other GPCR modulators. Tectonic Therapeutic, Inc. is situated in Watertown, Massachusetts.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
Tectonic Therapeutic, Inc.
NASDAQ:TECXHealthcare · Biotechnology
-3.51%$19.78
AH$19.78+0.00%vs close
Mkt Cap$386.69M
Float11.63M
O/S19.55M
Vol
$ Vol
RVOL
Inst Own71.7%
SI19.1%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$74.15M
Total Assets$261.04M
Free Cash Flow-$60.29M
Debt & Equity
Debt 1%
Equity 99%
Total Debt$1.28M
Total Equity$251.33M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TECX's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$261.04M
Liabilities$9.71M
Accounts Receivable$0
Accounts Payable$1.09M
Inventory$0
PP&E (Net)$2.55M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $1.21M | $850K | $380K | $45K | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | -$1.21M | -$850K | -$380K | -$45K | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $63.49M | $41.36M | $36.97M | $25.65M | $10.98M | $86.03M | $54.97M | $35.09M | $15.19M | $2.66M |
| Selling, General, and Administrative | $20.55M | $16.65M | $7.68M | $7.18M | $4.63M | $32.99M | $19.98M | $10.77M | $3.15M | $1.96M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $84.04M | $58.02M | $44.65M | $32.83M | $15.61M | $119.02M | $74.96M | $45.86M | $18.34M | $4.63M |
| Operating Income (EBIT) | -$84.04M | -$58.02M | -$44.65M | -$32.83M | -$15.61M | -$120.23M | -$75.81M | -$46.24M | -$18.39M | -$4.63M |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $63K | $107K | $152K | $144K | $224K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $11.3M | $4.26M | $581K | $149K | $0 | $719K | $2.93M | $1.73M | $57K | $6K |
| Other Income (Expense) | $11.12M | $33K | $1.82M | $650K | $6.68M | $516K | $2.84M | -$118K | -$262K | -$39K |
| Income Before Tax (EBT) | -$72.92M | -$57.98M | -$42.82M | -$32.18M | -$8.93M | -$119.71M | -$72.97M | -$46.36M | -$18.65M | -$4.66M |
| Income Tax Expense | $1.23M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$74.15M | -$57.98M | -$42.82M | -$32.18M | -$8.93M | -$119.71M | -$72.97M | -$46.36M | -$18.65M | -$4.66M |
| Net Income Margin | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | ||||||||||
| EPS | -4.05 | -3.93 | -11.59 | -29.05 | -33.36 | -39.68 | -31.92 | -23.41 | -9.35 | -2.34 |
| Diluted EPS | -4.05 | -3.93 | -11.53 | -29.05 | -33.36 | -39.68 | -31.92 | -23.41 | -9.35 | -2.34 |
| Weighted Average OS | 18.32M | 14.77M | 3.69M | 3.64M | 3.57M | 3.02M | 2.29M | 1.98M | 1.99M | 1.99M |
| EBITDA | -$71.48M | -$56.23M | -$41.19M | -$31.03M | -$8.12M | -$118.5M | -$72.11M | -$45.98M | -$18.6M | -$4.66M |
| EBITDA Margin | - | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $253.8M | $141.24M | $28.77M | $35.97M | $28.06M | $259.68M | $187.04M | $126.3M | $5.96M | $5.36M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $253.8M | $141.24M | $28.77M | $35.97M | $28.06M | $259.68M | $187.04M | $126.3M | $5.96M | $5.36M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $2.56M | $2.14M | $1.54M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $3.56M | $5.62M | $2.12M | $1.08M | $557K | $271K | $620K | $795K | $60K | $4K |
| Total Current Assets | $257.36M | $146.86M | $30.88M | $37.04M | $28.62M | $267.24M | $195.7M | $130.02M | $6.31M | $5.38M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $2.55M | $5.3M | $7.23M | $9.55M | $3.66M | $3.06M | $3.7M | $2.63M | $349K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $587K | $0 | $0 | $0 | $492K | $492K | $492K | $24K | $24K |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $1.13M | $156K | $1.29M | $613K | $599K | $436K | $625K | $333K | $341K | $0 |
| Total Long-Term Assets | $3.68M | $6.05M | $8.52M | $10.17M | $4.26M | $3.99M | $4.81M | $3.46M | $714K | $24K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $261.04M | $152.91M | $39.4M | $47.21M | $32.88M | $271.23M | $200.51M | $133.48M | $7.02M | $5.4M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $1.09M | $976K | $409K | $574K | $1.81M | $2.68M | $3.95M | $2.78M | $527K | $340K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $4.11M | $3.58M | $33.37M | $2.66M | $1.76M | $7.53M | $7.04M | $5.21M | $1.3M | $177K |
| Total Current Liabilities | $9.67M | $11.61M | $40.89M | $7.84M | $4.12M | $16.61M | $14.02M | $10.61M | $2.63M | $891K |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $43K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $80.63M | $80.68M | $43.02M | $276K | $484K | $689K | $1.03M | $88K |
| Total Long-Term Liabilities | $43K | $519K | $83.15M | $85.03M | $43.72M | $276K | $484K | $689K | $1.03M | $88K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $9.71M | $12.13M | $124.03M | $92.86M | $47.84M | $16.89M | $14.5M | $11.29M | $3.66M | $979K |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.5M | $9M |
| Common Stock | $2K | $2K | $0 | $0 | $0 | $4K | $3K | $2K | $1K | $1K |
| Retained Earnings | -$222.74M | -$148.59M | -$90.6M | -$47.78M | -$15.6M | -$264.42M | -$144.7M | -$71.74M | -$23.48M | -$4.83M |
| Comprehensive Income & Other | -$96K | $9K | -$11K | $0 | $0 | $0 | $0 | $0 | -$1K | -$1K |
| Other Stockholders' Equity | $474.06M | $289.36M | $5.97M | $2.13M | $641K | $518.76M | $330.71M | $193.92M | $26.84M | $9.25M |
| Total Equity | $251.33M | $140.78M | -$84.64M | -$45.65M | -$14.96M | $254.34M | $186.01M | $122.18M | $3.37M | $4.42M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $261.04M | $152.91M | $39.4M | $47.21M | $32.88M | $271.23M | $200.51M | $133.48M | $7.02M | $5.4M |
| Supplementary Data | ||||||||||
| Total Debt | $1.28M | $3.3M | $4.34M | $5.79M | $1.05M | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$252.52M | -$137.94M | -$24.43M | -$30.17M | -$27.01M | -$259.68M | -$187.04M | -$126.3M | -$5.96M | -$5.36M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$74.15M | -$57.98M | -$42.82M | -$32K | -$8.93M | -$119.71M | -$72.97M | -$46.36M | -$18.65M | -$4.66M |
| Depreciation & Amortization | $1.38M | $1.65M | $1.48M | $1.01M | $364K | $1.21M | $850K | $380K | $45K | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $10.5M | $3.49M | $1.12M | $1K | $639K | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $116K | -$1.42M | -$165K | -$3.1M | $1.45M | -$881K | $1.03M | $2.02M | $176K | $177K |
| Other Working Capital | -$186K | -$8.86M | -$419K | -$4.3M | $464K | $5.12M | -$3.21M | $2.16M | $1.41M | $533K |
| Total Working Capital Change | -$70K | -$10.28M | -$584K | -$7.4M | $1.92M | $4.24M | -$2.18M | $4.18M | $1.59M | $710K |
| Other Non-Cash Items | $2.27M | $4.04M | $127K | -$90.78M | -$6.45M | $15.46M | $6.63M | $2.9M | $549K | $463K |
| Net Cash from Operating | -$60.08M | -$59.08M | -$40.68M | -$97.21M | -$12.45M | -$98.8M | -$67.67M | -$37.65M | -$16.38M | -$3.31M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$208K | -$156K | -$279K | -$267K | -$2.12M | -$1.18M | -$1.58M | -$1.83M | -$383K | $0 |
| Acquisitions | $70K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$24K |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$138K | -$156K | -$279K | -$267K | -$2.12M | -$1.18M | -$1.58M | -$1.83M | -$383K | -$24K |
| Financing Activities | ||||||||||
| Debt Repaid | $489K | $475K | $499K | $393K | -$3.61M | - | - | - | - | - |
| Common Stock Issuance | $174.33M | $94.6M | $34.13M | $262K | $2K | $172.62M | $129.99M | $160.29M | $17.41M | $8.7M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$485K | $77.59M | $121K | $393K | $0 | $0 | $0 | $0 | -$44K | $8.7M |
| Net Cash from Financing | $173.35M | $171.71M | $33.75M | $262K | $41.42M | $172.62M | $129.99M | $160.29M | $17.37M | $8.7M |
| Forex Effect | -$95K | -$8K | $16K | $492K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $113.04M | $112.47M | -$7.2M | -$96.72M | $26.84M | $72.64M | $60.74M | $120.34M | $606K | $5.36M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | -$60.08M | -$59.08M | -$40.68M | -$97.21M | -$12.45M | -$98.8M | -$67.67M | -$37.65M | -$16.38M | -$3.31M |
| Capital Expenditure | -$208K | -$156K | -$279K | -$267K | -$2.12M | -$1.18M | -$1.58M | -$1.83M | -$383K | $0 |
| Free Cash Flow | -$60.29M | -$59.24M | -$40.96M | -$97.47M | -$14.58M | -$99.98M | -$69.25M | -$39.48M | -$16.77M | -$3.31M |
| Cash at Beginning | $141.83M | $29.36M | $36.55M | $189.57M | $1.81M | $187.04M | $126.3M | $5.96M | $5.36M | $0 |
| Cash at End | $254.87M | $141.83M | $29.36M | $92.85M | $28.65M | $259.68M | $187.04M | $126.3M | $5.96M | $5.36M |