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    TECX

    Tectonic Therapeutic, Inc.

    Company overview

    Market capitalization
    $459.61M
    Employees
    60
    Latest publication
    2026-09-29
    About Tectonic Therapeutic, Inc.

    Tectonic Therapeutic, Inc., a biotechnology company, focuses on the discovery and development of therapeutic proteins and antibodies to modulate the activity of G protein coupled receptors (GPCRs). It develops GEODe technology platform to enable the discovery and development of GPCR-targeted biologic medicines. The company's lead product is TX45, a Fc-relaxin fusion molecule that activates the RXFP1 receptor, the GPCR target of the hormone, and relaxin. It is also developing TX2100 for the treatment of hereditary hemorrhagic telangiectasia; GPCR modulator bispecific for treating fibrosis; and other GPCR modulators. The company is headquartered in Watertown, Massachusetts.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Revenue0USD0USD0USD0USD0USD0USD0USD0USD
    Research Development20,871,000USD16,341,000USD16,927,000USD17,185,000USD13,036,000USD9,156,000USD14,317,000USD7,074,000USD
    Selling General Administrative6,430,000USD5,175,000USD4,963,000USD5,147,000USD5,262,000USD4,835,000USD5,320,000USD4,347,000USD
    Total Operating Expenses27,301,000USD21,516,000USD21,890,000USD22,332,000USD18,298,000USD13,991,000USD19,637,000USD11,421,000USD
    Operating Income-27,301,000USD-21,516,000USD-21,890,000USD-22,332,000USD-18,298,000USD-13,991,000USD-19,637,000USD-11,421,000USD
    Interest Income2,181,000USD2,564,000USD2,900,000USD3,389,000USD2,444,000USD1,735,000USD1,952,000USD318,000USD
    Interest Expense8,000USD12,000USD14,000USD17,000USD20,000USD22,000USD25,000USD28,000USD
    Net Interest Income2,173,000USD2,552,000USD2,886,000USD3,372,000USD2,424,000USD1,713,000USD1,927,000USD290,000USD
    Income Before Tax-25,241,000USD-18,972,000USD-19,035,000USD-19,008,000USD-15,906,000USD-12,373,000USD-17,717,000USD-12,671,000USD
    Net Income-25,241,000USD-19,226,000USD-19,035,000USD-19,984,000USD-15,906,000USD-12,373,000USD-17,717,000USD-12,671,000USD
    Net Income From Continuing Ops-25,241,000USD-19,226,000USD-19,035,000USD-19,984,000USD-15,906,000USD-12,373,000USD-17,717,000USD-12,671,000USD
    Ebit-25,233,000USD-18,960,000USD-19,021,000USD-18,991,000USD-15,886,000USD-12,351,000USD-17,692,000USD-12,643,000USD
    Ebitda-24,929,000USD-18,267,000USD-18,679,000USD-18,651,000USD-15,526,000USD-11,843,000USD-17,268,000USD-12,307,000USD
    Depreciation And Amortization304,000USD693,000USD342,000USD340,000USD360,000USD508,000USD424,000USD336,000USD
    Reconciled Depreciation304,000USD333,000USD342,000USD340,000USD360,000USD508,000USD424,000USD336,000USD
    Total Other Income Expense Net2,060,000USD2,544,000USD2,855,000USD3,324,000USD2,392,000USD1,618,000USD1,920,000USD-1,250,000USD
    Income Tax Expense—254,000USD—976,000USD————
    Tax Provision—254,000USD0USD976,000USD———0USD
    Cost Of Revenue———340,000USD360,000USD508,000USD424,000USD264,000USD
    Gross Profit———-340,000USD-360,000USD-508,000USD-424,000USD-264,000USD
    Selling And Marketing Expenses———————5,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Revenue0USD0USD0USD0USD0USD———
    Research Development63,489,000USD41,364,000USD36,966,000USD25,654,000USD10,977,000USD86,029,000USD54,974,000USD35,095,000USD
    Selling General Administrative20,547,000USD16,651,000USD7,682,000USD7,176,000USD4,633,000USD———
    Total Operating Expenses84,036,000USD58,015,000USD44,648,000USD32,830,000USD15,610,000USD119,021,000USD74,959,000USD45,863,000USD
    Operating Income-84,036,000USD-58,015,000USD-44,648,000USD-32,830,000USD-15,610,000USD-120,228,000USD-75,809,000USD-46,243,000USD
    Interest Income11,297,000USD4,261,000USD581,000USD149,000USD0USD———
    Interest Expense63,000USD107,000USD152,000USD144,000USD224,000USD———
    Net Interest Income11,234,000USD4,154,000USD429,000USD5,000USD-445,000USD———
    Income Before Tax-72,921,000USD-57,982,000USD-42,823,000USD-32,180,000USD-8,927,000USD-119,712,000USD-72,965,000USD-46,361,000USD
    Income Tax Expense1,230,000USD—377,000USD—————
    Tax Provision1,230,000USD0USD——————
    Net Income-74,151,000USD-57,982,000USD-42,823,000USD-32,180,000USD-8,927,000USD-119,712,000USD-72,965,000USD-46,361,000USD
    Net Income From Continuing Ops-74,151,000USD-57,982,000USD-42,823,000USD-32,180,000USD-8,927,000USD———
    Ebit-72,858,000USD-57,875,000USD-42,671,000USD-32,036,000USD-8,482,000USD-119,712,000USD-72,965,000USD-46,361,000USD
    Ebitda-71,483,000USD-56,230,000USD-41,193,000USD-31,030,000USD-8,118,000USD-118,505,000USD-72,115,000USD-45,981,000USD
    Depreciation And Amortization1,375,000USD1,645,000USD1,478,000USD1,006,000USD364,000USD1,207,000USD850,000USD380,000USD
    Reconciled Depreciation1,375,000USD1,645,000USD1,478,000USD1,006,000USD364,000USD———
    Total Other Income Expense Net11,115,000USD33,000USD1,825,000USD650,000USD6,683,000USD516,000USD2,844,000USD-118,000USD
    Cost Of Revenue—1,645,000USD617,000USD4,166,000USD1,399,000USD1,207,000USD850,000USD380,000USD
    Gross Profit—-1,645,000USD-617,000USD-4,166,000USD-1,399,000USD-1,207,000USD-850,000USD-380,000USD
    Unclassified Operating Expenses—————32,992,000USD19,985,000USD10,768,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Assets246,577,000USD261,038,000USD277,001,000USD295,313,000USD314,829,000USD152,905,000USD168,717,000USD193,910,000USD
    Other Current Assets2,997,000USD3,561,000USD4,806,000USD3,467,000USD3,397,000USD5,618,000USD3,503,000USD2,264,000USD
    Total Liab16,160,000USD9,709,000USD9,473,000USD11,547,000USD13,793,000USD12,129,000USD18,356,000USD27,543,000USD
    Total Stockholder Equity230,417,000USD251,329,000USD267,528,000USD283,766,000USD301,036,000USD140,776,000USD150,361,000USD166,367,000USD
    Other Current Liab8,973,000USD7,340,000USD6,750,000USD6,800,000USD4,907,000USD7,850,000USD12,737,000USD20,009,000USD
    Common Stock2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD
    Capital Stock2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD2,000USD
    Retained Earnings-247,978,000USD-222,737,000USD-203,511,000USD-184,476,000USD-164,492,000USD-148,586,000USD-136,213,000USD-118,496,000USD
    Cash236,894,000USD253,798,000USD268,435,000USD287,381,000USD306,246,000USD141,239,000USD159,095,000USD185,124,000USD
    Cash And Short Term Investments236,894,000USD253,798,000USD268,435,000USD287,381,000USD306,246,000USD141,239,000USD159,095,000USD185,124,000USD
    Total Current Assets239,891,000USD257,359,000USD273,241,000USD290,848,000USD309,643,000USD146,857,000USD162,598,000USD187,388,000USD
    Total Current Liabilities12,958,000USD9,666,000USD9,373,000USD11,361,000USD13,510,000USD11,610,000USD17,320,000USD26,001,000USD
    Net Debt-232,261,000USD-252,522,000USD-267,197,000USD-285,438,000USD-303,614,000USD-137,936,000USD-156,111,000USD-181,680,000USD
    Short Term Debt1,431,000USD1,233,000USD1,138,000USD1,757,000USD2,349,000USD2,784,000USD1,948,000USD1,902,000USD
    Short Long Term Debt Total4,633,000USD1,276,000USD1,238,000USD1,943,000USD2,632,000USD3,303,000USD2,984,000USD3,444,000USD
    Accounts Payable2,554,000USD1,093,000USD1,485,000USD2,804,000USD6,254,000USD976,000USD2,635,000USD4,090,000USD
    Property Plant Equipment Net5,538,000USD2,554,000USD2,678,000USD3,591,000USD4,461,000USD5,305,000USD5,342,000USD5,922,000USD
    Property Plant Equipment Gross5,538,000USD5,961,000USD5,858,000USD6,723,000USD7,460,000USD8,050,000USD7,994,000USD8,304,000USD
    Common Stock Shares Outstanding18,769,004shares18,322,533shares18,712,767shares18,680,042shares17,157,661shares14,792,618shares14,744,477shares14,734,323shares
    Non Current Assets Total6,686,000USD3,679,000USD3,760,000USD4,465,000USD5,186,000USD6,048,000USD6,119,000USD6,522,000USD
    Non Current Liabilities Total3,202,000USD43,000USD100,000USD186,000USD283,000USD519,000USD1,036,000USD1,542,000USD
    Non Currrent Assets Other1,148,000USD1,125,000USD1,082,000USD874,000USD725,000USD743,000USD777,000USD600,000USD
    Net Working Capital226,933,000USD247,693,000USD263,868,000USD279,487,000USD296,133,000USD135,247,000USD145,278,000USD161,387,000USD
    Unclassified Non Current Liabilities3,202,000USD—————1,036,000USD1,542,000USD
    Unclassified Equity478,391,000USD474,158,000USD471,110,000USD468,287,000USD465,522,000USD289,349,000USD286,647,000USD284,920,000USD
    Accumulated Other Comprehensive Income—-96,000USD-75,000USD-49,000USD2,000USD9,000USD-77,000USD-61,000USD
    Other Assets———————1USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Assets261,038,000USD152,905,000USD39,399,000USD47,209,000USD32,877,000USD271,234,000USD200,514,000USD133,479,000USD
    Other Current Assets3,561,000USD5,618,000USD2,115,000USD1,076,000USD557,000USD4,998,000USD6,518,000USD2,173,000USD
    Total Liab9,709,000USD12,129,000USD124,035,000USD92,863,000USD47,837,000USD16,890,000USD14,501,000USD11,295,000USD
    Total Stockholder Equity251,329,000USD140,776,000USD-84,636,000USD-45,654,000USD-14,960,000USD254,344,000USD186,013,000USD122,184,000USD
    Other Current Liab7,340,000USD7,850,000USD38,656,000USD5,814,000USD1,954,000USD13,932,000USD10,068,000USD7,822,000USD
    Common Stock2,000USD2,000USD4,000USD4,000USD4,000USD4,000USD3,000USD2,000USD
    Capital Stock2,000USD2,000USD0USD0USD0USD———
    Retained Earnings-222,737,000USD-148,586,000USD-90,604,000USD-47,781,000USD-15,601,000USD-264,416,000USD-144,704,000USD-71,739,000USD
    Cash253,798,000USD141,239,000USD28,769,000USD35,966,000USD28,063,000USD259,682,000USD187,043,000USD126,302,000USD
    Cash And Short Term Investments253,798,000USD141,239,000USD28,769,000USD35,966,000USD28,063,000USD259,682,000USD187,043,000USD126,302,000USD
    Total Current Assets257,359,000USD146,857,000USD30,884,000USD37,042,000USD28,620,000USD267,242,000USD195,701,000USD130,020,000USD
    Total Current Liabilities9,666,000USD11,610,000USD40,888,000USD7,837,000USD4,117,000USD16,614,000USD14,017,000USD10,606,000USD
    Net Debt-252,522,000USD-137,936,000USD-24,426,000USD-30,174,000USD-27,008,000USD-259,682,000USD-187,043,000USD-126,302,000USD
    Short Term Debt1,233,000USD2,784,000USD1,823,000USD1,449,000USD355,000USD———
    Short Long Term Debt Total1,276,000USD3,303,000USD4,343,000USD5,792,000USD1,055,000USD———
    Accounts Payable1,093,000USD976,000USD409,000USD574,000USD1,808,000USD2,682,000USD3,949,000USD2,784,000USD
    Property Plant Equipment Net2,554,000USD5,305,000USD7,228,000USD9,554,000USD3,658,000USD3,064,000USD3,696,000USD2,634,000USD
    Property Plant Equipment Gross5,961,000USD8,050,000USD9,084,000USD10,431,000USD4,071,000USD———
    Accumulated Other Comprehensive Income-96,000USD9,000USD-11,000USD0USD-42,610,000USD———
    Common Stock Shares Outstanding18,322,533shares14,768,548shares3,713,999shares3,644,916shares3,571,166shares3,017,166shares2,286,040shares1,980,776shares
    Non Current Assets Total3,679,000USD6,048,000USD8,515,000USD10,167,000USD4,257,000USD3,992,000USD4,813,000USD3,459,000USD
    Non Current Liabilities Total43,000USD519,000USD83,147,000USD85,026,000USD43,720,000USD276,000USD484,000USD689,000USD
    Non Currrent Assets Other1,125,000USD156,000USD1,287,000USD613,000USD599,000USD436,000USD625,000USD333,000USD
    Net Working Capital247,693,000USD135,247,000USD-10,004,000USD29,205,000USD24,503,000USD———
    Unclassified Equity474,158,000USD289,349,000USD5,975,000USD2,123,000USD43,247,000USD518,756,000USD330,714,000USD193,921,000USD
    Other Assets——69,377,000USD1USD1USD1USD——
    Current Deferred Revenue——-878,000USD—-355,000USD———
    Unclassified Non Current Assets——-69,377,000USD—————
    Unclassified Non Current Liabilities——83,147,000USD84,970,000USD43,720,000USD———
    Net Receivables———269,000USD2,697,000USD2,562,000USD2,140,000USD1,545,000USD
    Non Current Liabilities Other———56,000USD————
    Unclassified Current Assets————-2,697,000USD———
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ3 20252025-09-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USDQ1 20242024-03-31 · USDQ4 20232023-12-31 · USD
    Net Income-25,241,000USD-19,035,000USD-15,906,000USD-12,373,000USD-17,717,000USD-12,671,000USD-15,221,000USD-7,869,000USD
    Depreciation304,000USD342,000USD360,000USD508,000USD424,000USD336,000USD377,000USD373,000USD
    Stock Based Compensation3,205,000USD2,817,000USD2,103,000USD1,117,000USD1,650,000USD403,000USD321,000USD294,000USD
    Other Non Cash Items519,000USD628,000USD511,000USD-469,000USD308,000USD1,836,000USD2,369,000USD-703,000USD
    Change In Working Capital2,800,000USD-2,567,000USD-151,000USD-5,604,000USD-4,269,000USD-3,286,000USD2,881,000USD-3,752,000USD
    Total Cash From Operating Activities-18,413,000USD-17,815,000USD-13,083,000USD-16,821,000USD-19,604,000USD-13,382,000USD-9,273,000USD-11,657,000USD
    Capital Expenditures-19,000USD-181,000USD-27,000USD-3,000USD-153,000USD-4,000USD-4,000USD-50,000USD
    Free Cash Flow-18,432,000USD-17,996,000USD-13,110,000USD-16,824,000USD-19,757,000USD-13,378,000USD-9,277,000USD-11,707,000USD
    Total Cashflows From Investing Activities-19,000USD-166,000USD-27,000USD-3,000USD-153,000USD4,000USD-4,000USD-50,000USD
    Net Borrowings-105,000USD-123,000USD-118,000USD-115,000USD-120,000USD———
    Total Cash From Financing Activities847,000USD-457,000USD178,122,000USD-1,069,000USD-6,287,000USD179,738,000USD-668,000USD34,130,000USD
    Issuance Of Capital Stock1,264,000USD0USD177,268,000USD0USD0USD94,600,000USD0USD34,125,000USD
    Change In Cash-17,491,000USD-18,461,000USD165,007,000USD-17,856,000USD-26,029,000USD166,376,000USD61,995,000USD-77,356,000USD
    Begin Period Cash Flow254,385,000USD287,968,000USD141,826,000USD159,682,000USD185,124,000USD19,335,000USD28,769,000USD106,125,000USD
    End Period Cash Flow236,894,000USD269,507,000USD306,833,000USD141,826,000USD159,095,000USD185,711,000USD90,764,000USD28,769,000USD
    Other Cashflows From Financing Activities-412,000USD-340,000USD972,000USD-1,853,000USD-6,244,000USD85,260,000USD-554,000USD34,125,000USD
    Investments—-166,000USD-27,000USD-3,000USD-153,000USD4,000USD-4,000USD-50,000USD
    Other Cashflows From Investing Activities—15,000USD————-3,996USD-199,950USD
    Unclassified Financing Cash Flow———————-34,120,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USDFY 20172017-12-31 · USD
    Net Income-74,151,000USD-57,982,000USD-42,823,000USD-8,927,000USD-119,712,000USD-72,965,000USD-46,361,000USD-18,648,000USD
    Depreciation1,375,000USD1,645,000USD1,478,000USD364,000USD1,207,000USD850,000USD380,000USD45,000USD
    Stock Based Compensation10,497,000USD3,491,000USD1,121,000USD639,000USD————
    Other Non Cash Items2,271,000USD4,044,000USD127,000USD-6,446,000USD15,465,000USD6,628,000USD2,896,000USD549,000USD
    Change In Working Capital-70,000USD-10,278,000USD-584,000USD1,916,000USD4,237,000USD-2,181,000USD4,179,000USD1,586,000USD
    Total Cash From Operating Activities-60,078,000USD-59,080,000USD-40,681,000USD-12,454,000USD-98,803,000USD-67,668,000USD-37,648,000USD-16,382,000USD
    Capital Expenditures-208,000USD-156,000USD-279,000USD-2,122,000USD-1,177,000USD-1,585,000USD-1,832,000USD-383,000USD
    Free Cash Flow-60,286,000USD-59,236,000USD-40,960,000USD-14,576,000USD-99,980,000USD-69,253,000USD-39,480,000USD-16,765,000USD
    Total Cashflows From Investing Activities-138,000USD-156,000USD-279,000USD-2,122,000USD-1,177,000USD-1,585,000USD-1,832,000USD-383,000USD
    Net Borrowings-489,000USD-475,000USD-499,000USD3,611,000USD————
    Total Cash From Financing Activities173,355,000USD171,714,000USD33,747,000USD41,420,000USD172,619,000USD129,994,000USD160,287,000USD17,371,000USD
    Issuance Of Capital Stock173,098,000USD94,600,000USD34,125,000USD37,807,000USD————
    Change In Cash113,044,000USD112,470,000USD-7,197,000USD26,844,000USD72,639,000USD60,741,000USD120,339,000USD606,000USD
    Begin Period Cash Flow141,826,000USD29,356,000USD36,553,000USD1,806,000USD187,043,000USD126,302,000USD5,963,000USD5,357,000USD
    End Period Cash Flow254,870,000USD141,826,000USD29,356,000USD28,650,000USD259,682,000USD187,043,000USD126,302,000USD5,963,000USD
    Other Cashflows From Investing Activities70,000USD———————
    Other Cashflows From Financing Activities-485,000USD77,589,000USD121,000USD37,807,000USD-1,177,000USD——-44,000USD
    Investments—-156,000USD-279,000USD-2,122,000USD————
    Unclassified Investing Cash Flow———2,122,000USD————
    Unclassified Financing Cash Flow———-37,805,000USD173,796,000USD——17,415,000USD
    Unclassified Operating Cash Flow——————1,258,000USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.