Tectonic Therapeutic, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $63.5M | $41.4M | $37.0M | $72.2M | $83.1M |
| Operating expenses | $84.0M | $58.0M | $44.6M | $105.4M | $118.8M |
| Operating income | -$84.0M | -$58.0M | -$44.6M | -$105.4M | -$118.8M |
| Interest expense | $63,000 | $107,000 | $152,000 | — | — |
| Pretax income | -$72.9M | -$58.0M | — | — | — |
| Income tax expense | $1.2M | $0 | $0 | $0 | — |
| Net income | -$74.2M | -$58.0M | -$42.8M | -$105.9M | -$119.1M |
| Balance Sheet | |||||
| Cash and equivalents | $253.8M | $141.2M | $28.8M | $92.6M | $189.6M |
| Current assets | $257.4M | $146.9M | $30.9M | $100.0M | $199.1M |
| Total assets | $261.0M | $152.9M | $39.4M | $103.9M | $203.8M |
| Current liabilities | $9.7M | $11.6M | $40.9M | $13.1M | $19.4M |
| Total liabilities | $9.7M | $12.1M | $43.4M | $28.6M | $34.4M |
| Total debt | — | — | — | $16.4M | $16.4M |
| Stockholders' equity | $251.3M | $140.8M | -$84.6M | -$45.7M | $169.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$60.1M | -$59.1M | -$40.7M | -$97.2M | -$98.0M |
| Depreciation and amortization | $1.4M | $1.6M | $1.5M | $1.4M | $1.4M |
| Stock-based compensation | $10.5M | $3.5M | $1.1M | $11.5M | $18.6M |
| Capital expenditure | $208,000 | $156,000 | $279,000 | $267,000 | $2.5M |
| Free cash flow | -$60.3M | -$59.2M | -$41.0M | -$97.5M | -$100.5M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 18.9M · Free float 14.2%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.