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what it is
Taysha is a gene therapy company trying to turn one lead Rett syndrome drug into a real business.
how it gets paid
Last year Taysha Gene Therap made $8M in revenue. TSHA-102 program-related revenue was the main engine at $3.2M, or 40% of sales.
what just happened
The clean takeaway is smaller losses: full-year EPS improved to -$0.36 in 2024 from -$0.96 in 2023.
At a glance
B balance sheet — gets the job done, barely
50/100 earnings predictability — expect surprises
-$0.36 fy2024 eps est
$8M fy2024 rev est
n/a operating margin
xvary composite: 48/100 — below average
What they do
Taysha is a gene therapy company trying to turn one lead Rett syndrome drug into a real business.
This is focus, not scale. Taysha has 73 employees and 1 lead clinical program, TSHA-102, aimed at Rett syndrome, so your bet is on one shot getting unusually far, not on a sprawling pipeline. AAV9 capsid (virus shell used to deliver genes) → the delivery vehicle is already clinically and commercially used elsewhere → so what: you are not funding a brand-new transport system from scratch.
How they make money
$8M
annual revenue
TSHA-102 program-related revenue
$3.2M
AAV9 platform and research services
$1.8M
license and collaboration revenue
$1.6M
manufacturing and development support
$0.9M
other revenue
$0.5M
The products that matter
gene therapy candidate for rett syndrome
TSHA-102
15-patient pivotal study · core of the thesis
This one asset sits under a ~$1B market cap while the company only has $6.3M in trailing revenue. If the 15-patient REVEAL study works, the story changes. If it doesn't, most of the story disappears.
single-asset bet
Key numbers
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. Operating margin → profit after running the business → so what: Taysha is nowhere near self-funding.
$8M
2024 revenue
Revenue is tiny against a roughly $1B market cap, which tells you this stock is priced on trial outcomes, not current sales.
$67M
long-term debt
Debt is 5% of capital, so the balance sheet is not the main problem. Clinical execution is.
1.85
beta
Beta → how much a stock swings versus the market → so what: TSHA tends to move almost twice as hard as the index.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $67M (5% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for TSHA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The clean takeaway is smaller losses: full-year EPS improved to -$0.36 in 2024 from -$0.96 in 2023.
Quarterly EPS moved from -$0.17 in Q4 2023 to -$0.07 in Q4 2024 based on the quarterly history provided. Revenue stayed tiny at about $8M for the year, so this is still a clinical-stage cash-burn story, not an operating business.
$4M
latest quarter revenue
$0.07
q4 2024 eps
n/a
operating margin
the number that mattered
The number that mattered was -$0.36 because it shows losses narrowed hard from -$0.96, even though revenue is still only about $8M.
source: company earnings report, 2026
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What could go wrong
the #1 risk is clinical failure in the 15-patient REVEAL study for TSHA-102.
med
Clinical failure
TSHA-102 is the only pivotal-stage asset in the snapshot. If the study disappoints, the company goes from "future platform" back to "small biotech with $6.3M in trailing revenue" very quickly.
Impact: most of the ~$1B equity story is tied to this one program
med
Cash burn and dilution
The company burned about $50M in the last nine months of 2024. That makes the reported $124M cash balance useful, but finite. Rare-disease timelines are not famous for respecting your financing plan.
Impact: a capital raise before approval would pressure your ownership even if the science remains intact
med
Single-asset concentration
There is no diversified product base here. No approved drug is offsetting setbacks, and no second commercial engine is carrying the model while TSHA-102 develops.
Impact: one regulatory or operational stumble can hit 100% of the current thesis at once
If TSHA-102 slips or capital gets tight, a roughly $1B story can shrink fast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
march 19, 2026 earnings report
You care less about the headline loss and more about cash, burn, and whether management says anything new about TSHA-102 timing.
the number that matters
TSHA-102 progress through the 15-patient REVEAL study
This is the main event. In a company with one pivotal-stage asset, trial momentum is not one input among many. It is the valuation framework.
balance sheet
cash runway versus a roughly $50M burn in nine months
If spending keeps outrunning financing, dilution stops being a risk factor and becomes a calendar event.
regulatory
what breakthrough designation actually changes
The october 2025 FDA designation can help speed development, but it is only valuable if later data justifies the urgency.
Analyst rankings
earnings predictability
50 / 100
In human-speak, analysts do not have a stable earnings model because there is no stable commercial business yet.
beta
1.85
Beta measures how violently a stock tends to move versus the market. At 1.85, TSHA has historically moved with extra volume on the way up and down.
source: institutional data
Institutional activity
institutional ownership data for TSHA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$5
current price
n/a
target midpoint · n/a from current
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