aibioTenaya Therapeutics gets Nasdaq minimum bid price notice, has until July 27, 2026
Tickers TNYA
Nasdaq told Tenaya Therapeutics on January 28, 2026 that its shares had closed below the $1.00 minimum bid price for 30 consecutive business days. The company has until July 27, 2026 to regain compliance, and an 8-K filed January 30 also adds 2,161,000 shares to its inducement equity plan.
Key facts
- Company
- Tenaya Therapeutics, Inc. (NASDAQ: TNYA)
- News type
- Listings
- Primary source
- Tenaya Therapeutics, Inc. Form 8-K filed January 30, 2026 (SEC EDGAR)
Tenaya Therapeutics, Inc. (Nasdaq: TNYA) said Nasdaq had told it that its stock no longer meets the $1.00 minimum bid price required for continued listing. The letter arrived on January 28, 2026, and the company disclosed it in a Form 8-K filed January 30, 2026. Tenaya has until July 27, 2026 to regain compliance.
What the Nasdaq letter says
The letter came from the Listing Qualifications Staff of The Nasdaq Stock Market LLC. Nasdaq based it on the closing bid price over the 30 consecutive business days from December 12, 2025 through January 27, 2026, when the stock did not meet the $1.00 minimum in Nasdaq Listing Rule 5450(a)(1).
The letter gives Tenaya a compliance period of 180 calendar days under Listing Rule 5810(c)(3)(A). It has no immediate effect on the listing, and the shares continue to trade on Nasdaq, subject to the company meeting the other listing requirements.
How Tenaya can regain compliance
To regain compliance, the closing bid price must stay at or above $1.00 for at least ten consecutive business days during the compliance period.
If Tenaya has not regained compliance by July 27, 2026, it may be eligible for an additional 180 calendar days by transferring to the Nasdaq Capital Market. That requires a transfer application and an application fee. The company would also have to meet the market value of publicly held shares requirement and the other initial listing standards, apart from the bid price, and give written notice that it intends to cure the deficiency by a reverse stock split, if necessary.
If Tenaya cannot cure the deficiency, or is not eligible for the extra period, Nasdaq will give notice that the shares are subject to delisting. The company says there is no assurance it will be eligible for the second period. It says it is making diligent efforts to keep the stock listed on the Nasdaq Global Select Market.
Inducement plan gets more shares
The 8-K also reports a change under Item 5.02. Effective January 26, 2026, the board approved an amendment and restatement of the Tenaya Therapeutics, Inc. 2024 Inducement Equity Incentive Plan. The change reserves an additional 2,161,000 shares of common stock, bringing the total under the plan to 3,361,000 shares.
The board first approved the plan in September 2024. The plan allows nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards. Awards may go only to people who were not previously employees or directors of the company, or who return after a bona fide period of non-employment, and only as an inducement to join the company.
The filing does not connect the share increase to the bid price problem. Adding shares while the stock trades below $1.00 gives the company more room to grant equity, which is a cost to existing holders, and the 8-K does not say how the company weighed that against the compliance deadline.
About Tenaya
In its annual report filed March 10, 2025, Tenaya calls itself a clinical-stage biotechnology company working on therapies for heart disease. It names three lead candidates. TN-201 is a gene therapy for MYBPC3-associated hypertrophic cardiomyopathy, in the Phase 1b/2 MyPEAK-1 trial. TN-401 is a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy, in the Phase 1b RIDGE-1 trial, with orphan drug designation from the FDA and Fast Track designation. TN-301 is a small molecule HDAC6 inhibitor for heart failure with preserved ejection fraction, which the company says it would aim to out-license or partner.
The annual report calls the first TN-201 cohort results "promising initial data"; at that date both gene therapy trials were early-stage and still establishing the safety profile of two doses. General Counsel and Secretary Jennifer Drimmer Rokovich signed the 8-K for the company.
What the 8-K leaves out
The 8-K gives no cash balance, net loss or revenue for Tenaya, and does not say whether a reverse stock split is planned or when one would take effect.