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Tenaya Therapeutics (NASDAQ:TNYA), a biotech company whose stock has surged over 66% in the past week, reported that Chief Executive Officer Ali Faraz sold a total of 14,533 shares of common stock on August 18, 2025, with prices ranging from $1.18 to $1.32. The sales amounted to a total of $18,208. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 6.0.
According to a Form 4 filing with the Securities and Exchange Commission, the sales were executed in three separate transactions to cover tax withholding obligations related to the vesting of restricted stock units.
Specifically, Faraz sold 5,720 shares for $7,167 related to restricted stock units awarded on February 15, 2023. He also sold 3,893 shares for $4,877 related to restricted stock units awarded on February 23, 2024, and 4,920 shares for $6,164 related to restricted stock units awarded on February 6, 2025.
Following these transactions, Ali Faraz directly owns 302,792 shares of Tenaya Therapeutics common stock, which includes 219,881 shares that will be issued upon the vesting of restricted stock units. InvestingPro subscribers can access 10+ additional insights about TNYA’s financial health and market performance, including detailed analyst forecasts and valuation metrics.
In other recent news, Tenaya Therapeutics announced positive developments in its cardiovascular gene therapy clinical trials. The company’s Data Safety and Monitoring Boards have approved the continuation of the MyPEAK-1 trial for TN-201 and the RIDGE-1 trial for TN-401, allowing for expansion and dose escalation in these trials. This marks a significant step forward for Tenaya as it proceeds with its clinical research. Furthermore, Tenaya has successfully completed enrollment in both dose cohorts of the MyPEAK-1 Phase 1b/2 trial for TN-201, which targets hypertrophic cardiomyopathy. The company also reported dosing the first patient in Cohort 2 of the RIDGE-1 Phase 1b trial for TN-401, aimed at treating arrhythmogenic right ventricular cardiomyopathy. These advancements reflect ongoing progress in Tenaya’s efforts to develop gene therapies for cardiovascular conditions.
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