Taysha Gene Therapies, Inc. reported its full‑year 2025 financial results, posting revenue of $9.8 million and a net loss of $109 million for the year ended December 31, 2025. Revenue rose from $8.3 million in 2024, reflecting a 18% year‑over‑year increase that was driven by a stronger commercial run‑rate in the company’s early‑stage gene‑therapy portfolio.
Research and development expenses climbed to $86.4 million, up 31% from $66.0 million in 2024, as the company accelerated clinical development of its lead Rett syndrome candidate, TSHA‑102. General and administrative costs increased to $33.9 million from $29.0 million, largely due to higher compensation, legal and professional fees, and debt‑issuance costs associated with the company’s capital‑raising activities.
Cash and cash equivalents stood at $319.8 million, including $50 million in gross proceeds from an at‑the‑market equity offering in the fourth quarter. Management indicated that the current cash position is expected to fund operations through 2028, providing a substantial runway for continued investment in the pipeline.
Earnings per share were a loss of $0.34, missing the consensus estimate of $-0.11. The miss reflects the company’s ongoing heavy investment in clinical development, which has expanded operating expenses faster than revenue growth. The company’s guidance remains unchanged, with the CFO noting that the cash runway supports the planned clinical milestones for TSHA‑102.
Investors reacted positively to the results, citing the Q4 revenue beat, progress on TSHA‑102—including FDA Breakthrough Therapy designation and alignment on regulatory pathways—and the strong cash position. Management emphasized that the company is on track to complete dosing in the REVEAL pivotal and ASPIRE trials in the second quarter of 2026, reinforcing confidence in the long‑term commercial potential of its Rett syndrome portfolio.
"2025 was a year of significant execution for Taysha, setting the stage for what we expect to be a transformative year ahead," said CEO Sean P. Nolan. "We are focused on completing the pivotal development of TSHA‑102 and bolstering our commercial readiness efforts as we advance toward potential registration." CFO Kamran Alam added that the current cash resources will be sufficient to fund planned operating expenses into 2028.
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