Taysha Gene Therapies, Inc.
TSHA Healthcare Biotechnology
Taysha Gene Therapies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.8 million, up 17.3% from fiscal 2024. In the quarter to June 2026, revenue grew 206.8%, EPS fell 44.4%, free cash flow fell 100.3% and total debt rose 20.0%, each against the same quarter a year earlier.
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Taysha Gene Therapies, Inc. (TSHA) Altman Z-score
Taysha Gene Therapies, Inc.'s Altman Z-score for fiscal 2025 is 8.05, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 8.05 | 11.35 |
| FY2024 | −3.30 | 0.11 |
| FY2023 | −3.41 | 4.48 |
| FY2022 | −7.88 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.87 | — | 1.04 | |
| Retained earnings / total assets | (2.07) | — | −2.90 | |
| EBIT / total assets | (0.32) | — | −1.06 | |
| Market value of equity / total liabilities | 18.24 | — | 10.95 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Safe zone | 8.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.53 | ||
Z and Z″ put Taysha Gene Therapies, Inc. in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TSHA Taysha Gene Therapies, Inc. | 8.1× |
| SNDX Syndax Pharmaceuticals, Inc. compare | −2.1× |
| NKTR Nektar Therapeutics compare | −17.1× |
| LBRX LB Pharmaceuticals Inc compare | — |
| GHRS GH Research PLC compare | — |
| DMRA Galecto, Inc. compare | — |
| VOR Vor Biopharma Inc. compare | — |
| BCAX Bicara Therapeutics Inc. compare | — |
| DRTS Alpha Tau Medical Ltd. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets