Taysha Gene Therapies Stock Soars On FY23 Results: Here's Why

Taysha Gene Therapies, Inc. TSHA shares are climbing after the company reported its fiscal year 2023 results after the bell Tuesday. Here's a look at the highlights. 

The Details: The company reported fiscal year 2023 losses of 96 cents per share, compared to losses of $3.78 per share from the prior year. Taysha reported it had $143.9 million in cash and cash equivalents on Dec. 31, 2023.

The company also provided clinical updates including the completed dosing in cohort one of its REVEAL Phase 1/2 adolescent and adult trial and the expansion of the ongoing trial in Canada into the U.S. and initiated site activation.

“We are highly encouraged by the safety profile and durable response reported in the longer-term data from the low dose cohort in our REVEAL adolescent and adult trial,” said Sean P. Nolan, CEO of Taysha.

“Importantly, following completion of the steroid taper for the first patient and at decreased steroid levels for the second patient, both patients showed sustained improvements across multiple clinical domains, as well as new improvements compared to earlier post-treatment assessments, which supports the transformative potential of TSHA-102,” Nolan added.

Outlook: Taysha Gene Therapies anticipates initial safety and efficacy data from cohort two of its REVEAL adolescent and adult trial in the second half of 2024. The company expects initial safety and efficacy data from cohort one of its REVEAL pediatric trial in mid-2024 and from cohort two in the second half of 2024.

TSHA Price Action: According to Benzinga Pro, Taysha Gene Therapies shares are up 31.11% after-hours at $2.95 at the time of publication Tuesday.

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