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Tenaya Therapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

1. Tenaya granted stock options for 461,000 shares to new employees. 2. Stock options have an exercise price equal to current closing price. 3. The options vest over four years contingent on continued employment. 4. Tenaya focuses on developing therapies for heart disease causes. 5. Pipeline includes gene therapies and treatments for various heart conditions.

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Why Bullish?

The granting of stock options signals company growth and employee commitment. Historical examples show positive market reactions for biotech companies expanding talent.

How important is it?

The article reflects strategic hiring, impacting TNYA's capabilities and future growth. Such operational decisions could bode well for future drug approvals, vital for investor confidence.

Why Long Term?

Successful recruitment strengthens Tenaya's development pipeline but takes time to reflect in stock performance. Expansion of the team could lead to accelerated progress in drug development.

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SOUTH SAN FRANCISCO, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Tenaya Therapeutics Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that it granted stock options to purchase an aggregate of 461,000 shares of Tenaya common stock to three new non-executive employees in connection with the commencement of their employment. The stock options have an exercise price of $0.4373 per share, which is equal to the closing price of Tenaya’s common stock on May 15, 2025. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4th of the original number of shares subject to the stock option shall vest on the one-year anniversary of the employee's date of hire and 1/48th of the original number of shares subject to the stock option shall vest every month thereafter, subject to such employee’s continued service with Tenaya on each such date. The stock options are subject to the terms and conditions of the Tenaya Therapeutics Inc. 2024 Inducement Equity Incentive Plan and related forms of agreements and were granted as an inducement material to each new employee’s acceptance of employment with Tenaya in accordance with NASDAQ Listing Rule 5635(c)(4). About Tenaya TherapeuticsTenaya Therapeutics is a clinical-stage biotechnology company committed to a bold mission: to discover, develop and deliver potentially curative therapies that address the underlying drivers of heart disease. Tenaya employs a suite of integrated internal capabilities, including modality agnostic target validation, capsid engineering and manufacturing, to generate a portfolio of genetic medicines aimed at the treatment of both rare genetic disorders and more prevalent heart conditions. Tenaya’s pipeline includes TN-201, a gene therapy for MYBPC3-associated hypertrophic cardiomyopathy (HCM), TN-401, a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC), TN-301, a small molecule HDAC6 inhibitor intended for heart failure with preserved ejection fraction (HFpEF), and multiple early-stage programs in preclinical development. For more information, visit www.tenayatherapeutics.com.

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