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Tectonic Therapeutic

TECX
Biotechnology · Healthcare
Price
$37.63
+1.58 (+4.38%)
Market Cap
$710.0M
Exchange
NASDAQ
Winston Score
Winston looking sleepy
No score yet — Winston is napping.
We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+413.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3.6M (2021) → 18.3M (2025)

Winston Score History

The full picture

Tectonic Therapeutic is a clinical-stage biotechnology company focused on developing new medicines that target a class of proteins called G protein-coupled receptors, or GPCRs. These receptors control many important biological processes in the body, and Tectonic is trying to create drugs that work in new ways to treat diseases like heart failure and inflammatory conditions. Its main customers are patients with serious diseases that have few good treatment options today.

The company does not yet sell any approved products, so it earns no revenue from product sales and funds its operations through cash raised from investors. Tectonic is based in the United States and, with a market cap of around $0.6 billion, is a small company still in the early stages of drug development. Its main competitive edge is its proprietary platform for designing drugs that can reach parts of GPCRs that traditional medicines cannot, but the biggest risk is that clinical trials could fail, which would significantly threaten the company's future.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

-10.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$63M/ year

Rising (+53% vs prior year)

R&D investment increasing — building for the future

Insider Activity

49.8%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~17 months

$227M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
N/A
Data not available
Profit after running costs
Operating Margin
N/A
Data not available
Return on the money invested
ROCE
-41.6%
Weak — -41.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
N/A
Data not available

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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