Tectonic Therapeutic reported a net loss of $22.3 million for the second quarter ended June 30, 2026, compared to a $20.0 million loss in the prior year period. Cash and cash equivalents stood at $227.1 million as of June 30, 2026, providing an expected runway into Q1 2029. The company completed enrollment in its Phase 2 APEX clinical trial for TX45 in patients with pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF), with topline results anticipated in early Q1 2027. Additionally, dosing of single-dose cohorts was completed in the Phase 1a trial for TX2100 targeting Hereditary Hemorrhagic Telangiectasia (HHT), with top-line data expected by the end of Q3 2026. Tectonic Therapeutic is a clinical-stage biotechnology company focused on discovering and developing therapeutic proteins and antibodies that modulate G-protein coupled receptors.