Tectonic Therapeutic Inc 2025年季度报告

(Mark One) For the quarterly period endedSeptember 30, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period from ______________ to ______________Commission File Number:001-38537 TECTONIC THERAPEUTIC, INC. (Exact Name of Registrant as Specified in its Charter) Registrant’s telephone number, including area code: (339)666-3320 Securities registered pursuant to Section 12(b) of the Act: Name of each exchangeon which registeredThe Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ Accelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒As of November 3, 2025, the registrant had18,716,280shares of common stock, $0.0001 par value per share, outstanding. Table of Contents PagePART I.FINANCIAL INFORMATION2Item 1.Financial Statements (Unaudited)2Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 20242Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine monthsended September 30, 2025 and 20243Condensed ConsolidatedStatements of Convertible Preferred Stock and Stockholders’ Equity (Deficit) for thethree and nine months ended September 30, 2025 and 20244Condensed ConsolidatedStatements of Cash Flows for the nine months ended September 30, 2025 and 20246Notes to Unaudited Interim Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations16Item 3.Quantitative and Qualitative Disclosures About Market Risk26Item 4.Controls and Procedures27PART II.OTHER INFORMATION28Item 1.Legal Proceedings28Item 1A.Risk Factors29Item 2.Unregistered Sales of Equity Securities and Use of Proceeds78Item 3.Defaults Upon Senior Securities78Item 4.Mine Safety Disclosures78Item 5.Other Information78Item 6.Exhibits79Signatures80 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (“Quarterly Report”) contains “forward-looking statements” within the meaning of Section21E the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical factscontained in this Quarterly Report are statements that could be deemed forward-looking statements reflecting the current beliefsand expectations of management with respect to future events or to our future financial performance and involve known andunknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materiallydifferent from any future results, performance or achievements expressed or implied by these forward-looking statements. Thesestatements are often identified by the use of words such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,”“could,” “due,” “estimate,” “expect,” “goal,” “if,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,”“seek,” “should,” “target,” “until,” “will,” “would,” and similar expressions or variations. Forward-looking statements in thisQuarterly Report may include, for example, statements about: •our strategies, prospects, plans, expectations or objectives of management for our future operations;•our progress, scope or timing of the development of our product candidates;•our expectations surrounding the potential safety, efficacy, and regulatory and clinical progress of TX45, TX2100 andany other product candidates, and our anticipated milestones and timing therefor;•the benefits that may be derived from any of our future products, if approved, or the commercial or market o