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Taysha Gene Therapies (TSHA)
NASDAQ:TSHA
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Taysha Gene Therapies
(NASDAQ:TSHA)
39Underperform
Positive Factors
Clinical Trial Progress
Taysha Gene Therapies made significant progress in regulatory interactions and announced a clean bill of safety for the six high-dose patients treated.
Financial Standing
The recent ~14.4M share offering at $2.25/sh and pre-funded warrants should net the company ~$70.5M, providing runway into Q426.
Product Efficacy
TSHA-102 has achieved similar efficacy at early time points to NGN-401 despite being given at a lower dose and administered in a less invasive way.
Regulatory Progress
Progress in FDA discussions and the upcoming update on trial design and primary endpoint could be a highly positive catalyst.
Negative Factors
Clinical Data Concerns
Recent stock reaction following initial pediatric data and longer-term adolescent/adult data for TSHA-102 has raised questions around clinical benefit and approvable endpoints.
Stock Market Reaction
Recent stock reaction following initial pediatric data and longer-term adolescent/adult data for TSHA-102 has raised questions around clinical benefit and approvable endpoints.
Taysha Gene Therapies (TSHA) vs. S&P 500 (SPY)
Market Cap
$246.00M
Dividend YieldN/A
Average Volume (3M)2.26M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth-46.07%
EPS Growth71.52%
CountryUS
Employees73
SectorHealthcare
Sector Strength74
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.38
Shares Outstanding205,001,630
10 Day Avg. Volume3,419,830
30 Day Avg. Volume2,256,357
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)40.35
Price to Cash Flow (P/CF)-4.60
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.63Price Target Upside452.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Taysha Gene Therapies Business Overview & Revenue Model
Company DescriptionTaysha Gene Therapies, Inc., a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN1 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 foe the treatment of for SLC13A5 Deficiency; and TSHA-101 for the treatment of GM2 gangliosidosis. Taysha Gene Therapies, Inc. has a strategic partnership with The University of Texas Southwestern Medical Center to develop and commercialize transformative gene therapy treatments. The company was incorporated in 2019 and is based in Dallas, Texas.
How the Company Makes MoneyTaysha Gene Therapies generates revenue primarily through the development and commercialization of its gene therapy products. The company focuses on advancing its pipeline of investigational therapies through clinical trials, aiming to bring them to market upon receiving regulatory approval. Key revenue streams include potential product sales, milestone payments, and royalties from partnerships and collaborations with other pharmaceutical companies. Taysha may also engage in strategic partnerships to co-develop therapies, leveraging their partners' resources and expertise, which can provide additional financial support and shared revenue opportunities. While Taysha is primarily in a development stage, its long-term financial success depends on successful clinical outcomes, regulatory approvals, and market adoption of its therapies.
Taysha Gene Therapies Financial Statement Overview
Summary
Taysha Gene Therapies is facing significant financial challenges, with shrinking revenues, substantial net losses, and negative cash flows. The company's high leverage and persistent operational inefficiencies pose risks to financial stability. While some improvements in debt levels are noted, the overall financial health remains weak and demands strategic realignment for growth and sustainability.Income Statement
Taysha Gene Therapies has shown limited revenue growth with significant net losses over the years. The company reported a decline in revenue from $15.45 million in 2023 to $8.33 million in 2024, indicating a revenue contraction. Additionally, the company has negative EBIT and EBITDA margins, reflecting operational inefficiencies and a lack of profitability.20
Very Negative
Balance Sheet
The balance sheet reveals a concerning financial structure with high levels of debt relative to equity, although the debt level decreased significantly from $61.11 million in 2023 to $17.36 million in 2024. The equity ratio improved slightly, but the company's negative net income negatively impacts the return on equity.30
Negative
Cash Flow
Cash flow analysis shows persistently negative operating and free cash flows. The company's free cash flow further declined from -$80.39 million in 2023 to -$81.60 million in 2024. The negative operating cash flow to net income ratio indicates that the company struggles to generate cash from its operations.25
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 8.33M | 15.45M | 2.50M | 0.00 | 0.00 | Gross Profit |
| 8.33M | 15.45M | 15.00K | -492.00K | -9.00K | EBIT |
| -91.46M | -72.44M | -162.45M | -173.27M | -43.00M | EBITDA |
| -87.95M | -105.20M | -159.73M | -172.78M | -42.99M | Net Income Common Stockholders |
| -89.30M | -111.57M | -169.58M | -175.46M | -43.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 139.04M | 143.94M | 87.88M | 149.10M | 251.25M | Total Assets |
| 160.36M | 172.73M | 126.28M | 213.96M | 258.88M | Total Debt |
| 17.36M | 61.11M | 59.93M | 63.09M | 0.00 | Net Debt |
| -121.67M | -82.83M | -27.95M | -86.01M | -251.25M | Total Liabilities |
| 88.84M | 97.79M | 125.33M | 118.57M | 7.58M | Stockholders Equity |
| 71.53M | 74.94M | 949.00K | 95.38M | 251.30M |
| Cash Flow | Free Cash Flow | |||
| -81.60M | -80.39M | -113.26M | -138.60M | -39.81M | Operating Cash Flow |
| -81.22M | -73.02M | -88.39M | -117.04M | -30.73M | Investing Cash Flow |
| -363.00K | -7.35M | -24.93M | -21.55M | -9.08M | Financing Cash Flow |
| 76.68M | 136.39M | 52.10M | 39.08M | 291.06M |
Taysha Gene Therapies Technical Analysis
Negative
1.20
Price Trends
1.60
Negative
1.83
Negative
1.96
Negative
Market Momentum
-0.03
Positive
32.09
Neutral
44.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSHA, the sentiment is Negative. The current price of 1.2 is below the 20-day moving average (MA) of 1.53, below the 50-day MA of 1.60, and below the 200-day MA of 1.96, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 32.09 is Neutral, neither overbought nor oversold. The STOCH value of 44.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSHA.
Taysha Gene Therapies Risk Analysis
Taysha Gene Therapies disclosed 83 risk factors in its most recent earnings report. Taysha Gene Therapies reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Taysha Gene Therapies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
48 Neutral | $6.36B | 1.28 | -45.04% | 2.64% | 19.24% | 1.69% | |
46 Neutral | $3.01B | ― | -19.20% | ― | -89.95% | -123.71% | |
41 Neutral | $732.90M | ― | -54.00% | ― | 59.55% | 3.09% | |
39 Underperform | $246.00M | ― | -121.94% | ― | -46.07% | 71.52% | |
39 Underperform | $96.27M | ― | -98.10% | ― | -58.64% | -40.05% | |
36 Underperform | $47.48M | ― | -295.35% | ― | 184.12% | 31.92% | |
35 Underperform | $495.34M | ― | -238.46% | ― | 71.17% | 23.89% |
* Healthcare Sector Average
Performance Comparison
TSHA
Taysha Gene Therapies
1.17
-1.77
-60.20%
BLUE
Bluebird Bio
4.67
-17.33
-78.77%
QURE
uniQure
8.57
3.79
79.29%
EDIT
Editas Medicine
1.11
-5.10
-82.13%
NTLA
Intellia Therapeutics
6.77
-17.50
-72.11%
CRSP
Crispr Therapeutics AG
34.26
-26.41
-43.53%
Taysha Gene Therapies Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: -29.41% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in the TSHA-102 program, including the completion of Part A dosing and encouraging safety and functional outcomes, alongside strong financial positioning. Despite increased R&D expenses and a net loss, the overall sentiment is positive due to the promising clinical and regulatory advancements.Highlights
Completion of Part A Dosing
TSHA-102 has completed dosing of ten patients in Part A, including six in the high dose cohort and four in the low dose cohort, demonstrating an encouraging safety profile with no treatment-related serious adverse events or dose-limiting toxicities.
Positive Safety Profile
TSHA-102 was generally well tolerated across all dosed patients, with no treatment-related SAEs or DLTs observed, which is encouraging for advancing to the pivotal phase.
Encouraging Functional Gains
Patients treated with TSHA-102 demonstrated functional gains such as improvements in motor function, socialization, communication, and seizure events, which are meaningful improvements for caregivers.
Strong Financial Position
Taysha Gene Therapies ended 2024 with $139 million in cash and cash equivalents, expected to support planned operations into the fourth quarter of 2026.
Regulatory Progress with FDA
Ongoing productive discussions with the FDA through the RMAT mechanism to solidify the regulatory pathway for TSHA-102, with an update on pivotal Part B trial design expected in the first half of 2025.
Lowlights
Increased R&D Expenses
Research and development expenses increased by $9.2 million from the previous year, driven by GMP batch activities and additional clinical trial activities.
Net Loss for 2024
Taysha reported a net loss of $89.3 million for the full year 2024, although this was an improvement from a net loss of $111.6 million in 2023.
Company Guidance
During the conference call, Taysha Gene Therapies provided guidance on several key metrics and developments for their TSHA-102 program. The company highlighted the completion of dosing for ten patients in Part A of their REVEAL Phase 1/2 trials, with six patients receiving a high dose of 1e15 total vector genomes and four patients a low dose of 5.7e14 total vector genomes. The safety profile was encouraging, with no treatment-related serious adverse events or dose-limiting toxicities observed. Financially, Taysha reported R&D expenses of $66 million and a net loss of $89.3 million for 2024, with $139 million in cash reserves expected to support operations into Q4 2026. The company plans to advance TSHA-102 towards a pivotal Part B trial, focusing on functional gains in Rett syndrome, and anticipates updates on trial design and clinical data in the first half of 2025.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.