SOUTH SAN FRANCISCO, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Tenaya Therapeutics Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that it granted stock options to purchase an aggregate of 12,000 shares of Tenaya common stock to two new non-executive employees in connection with the commencement of their employment. The stock options have an exercise price of $1.97 per share, which is equal to the closing price of Tenaya’s common stock on November 15, 2024. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4^th of the original number of shares subject to the stock option shall vest on the one-year anniversary of the employee's date of hire and 1/48^th of the original number of shares subject to the stock option shall vest every month thereafter, subject to such employee’s continued service with Tenaya on each such date.

The stock options are subject to the terms and conditions of the Tenaya Therapeutics Inc. 2024 Inducement Equity Incentive Plan and related forms of agreements, and were granted as an inducement material to each new employee’s acceptance of employment with Tenaya in accordance with NASDAQ Listing Rule 5635(c)(4).

About Tenaya Therapeutics
Tenaya Therapeutics is a clinical-stage biotechnology company committed to a bold mission: to discover, develop and deliver potentially curative therapies that address the underlying drivers of heart disease. Tenaya employs a suite of integrated internal capabilities, including modality agnostic target validation, capsid engineering and manufacturing, to generate a portfolio of genetic medicines aimed at the treatment of both rare genetic disorders and more prevalent heart conditions. Tenaya’s pipeline includes TN-201, a gene therapy for MYBPC3-associated hypertrophic cardiomyopathy (HCM), TN-401, a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC), TN-301, a small molecule HDAC6 inhibitor intended for heart failure with preserved ejection fraction (HFpEF), and multiple early-stage programs in preclinical development. For more information, visit www.tenayatherapeutics.com.