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Catalyst calendar

TSRA-196 first US dosing

Tessera announced TSRA-196 IND clearance in January 2026 for a multinational Phase 1/2 AATD trial. A US first-dose trigger is distinct from clearance or an overseas enrollment announcement.

Tessera TherapeuticsPrivate biotechTrial initiationDate to watch

What matters

Track what the company has actually announced, the study or asset involved, and the evidence needed to confirm the milestone.

  • The FDA clearance is already completed and must not be listed as pending; first dosing may also have occurred after the cited release.
  • Research candidate, not a live market, clinical probability, company equity or access to private shares.

Primary evidence

Clinical initiation candidate — current first-dose status needs refresh

Company context

Opened 2026 Metagenomi annual report, PDF pages 15 and 47: its competitor discussion explicitly describes Tessera as a privately-held company. Positive SEC-filed disclosure, not absence of an IPO search result. It is a 2026 annual-report statement rather than an independent October 31 registry audit; exact filing day was not independently extracted.

Potential outcome market

Will a US participant receive TSRA-196 in its Phase 1/2 AATD trial by the market deadline?

This event is research, not a listed market. A market needs a precise question, resolution rules and liquidity before trading opens.