Dyne Therapeutics, Inc. DYN
We are a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases. Our proprietary FORCE platform is designed to leverage the transferrin receptor 1, or TfR1, to deliver targeted therapeutics to muscle tissue and the central nervous system, or CNS. The FORCE platform utilizes an antigen-binding fragment antibody, or Fab, targeting TfR1 conjugated to a payload that we rationally design to target the genetic basis of the disease we are seeking to treat. With our FORCE platform, we have the flexibility to deploy different classes of payloads (such as oligonucleotides and enzymes) with specific mechanisms of action that modify target functions. We currently leverage this modularity to focus on neuromuscular diseases with high unmet need, with etiologic targets and with clear translational potential from preclinical disease models to well-defined clinical development and regulatory pathways.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| R&D | $398.3M | $281.4M | $210.8M | $142.8M | $121.3M | $45.2M | $11.0M | — |
| SG&A | $69.9M | $62.5M | $31.4M | $28.2M | $28.7M | $13.4M | $2.8M | — |
| Total operating expenses | $468.2M | $343.9M | $242.2M | $171.0M | $150.0M | $58.6M | $13.8M | — |
| Operating income | -$468.2M | -$343.9M | -$242.2M | -$171.0M | -$150.0M | -$58.6M | -$13.8M | — |
| Pre-tax income | -$446 | -$317 | -$236 | — | — | — | — | — |
| Income tax | $0 | $0 | $0 | — | — | — | — | — |
| Net income | -$446 | -$317 | -$236 | -$168 | -$149.3M | -$59.4M | -$14.9M | — |
| EPS, basic | -3.47 | -3.37 | -3.95 | -3.23 | -2.93 | — | — | — |
| EPS, diluted | -3.47 | -3.37 | -3.95 | -3.23 | -2.93 | -4.13 | -6.08 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $893.4M | $435.4M | $121.6M | $172.1M | $200.8M | $300.9M | $14.6M | — |
| Short-term investments | $217.2M | $206.8M | $1.5M | $83.9M | $175.7M | $44.5M | $0 | — |
| Total current assets | $1.13B | $659.3M | $129.4M | $265.6M | $382.4M | $349.1M | $14.8M | — |
| Property, plant and equipment | $24.0M | $5.4M | $4.8M | $5.9M | $4.7M | $1.9M | $1.5M | — |
| Total assets | $1.19B | $691.2M | $165.1M | $306.3M | $425.7M | $353.3M | $16.4M | — |
| Accounts payable | $8.1M | $6.6M | $22.9M | $5.3M | $4.0M | $3.4M | $1.3M | — |
| Total current liabilities | $50.6M | $42.3M | $51.1M | $28.1M | $28.7M | $11.0M | $2.4M | — |
| Long-term debt | $148.9M | $0 | — | — | — | — | — | — |
| Total liabilities | $214.8M | $61.4M | $73.8M | $54.0M | $57.5M | $11.0M | $2.4M | — |
| Retained earnings | -$1.40B | -$949.9M | -$632.5M | -$396.6M | -$228.5M | -$79.2M | -$19.7M | — |
| Total equity | $972.1M | $629.8M | $91.3M | $252.4M | $368.2M | $342.4M | $14.0M | -$4.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$403.2M | -$292.4M | -$188.2M | -$153.6M | -$119.6M | -$46.5M | -$11.8M | — |
| Depreciation and amortisation | $2.0M | $1.7M | $1.7M | $1.7M | $1.1M | $700.0K | $271.0K | — |
| Stock-based compensation | $45.9M | $45.9M | $20.0M | $15.2M | $17.5M | $6.6M | $26.0K | — |
| Capital expenditure | $1.9M | $2.4M | $729.0K | $3.1M | $3.6M | $1.2M | $1.6M | — |
| Investing cash flow | -$28.8M | -$204.1M | $83.3M | $87.2M | -$137.9M | -$45.7M | -$1.6M | — |
| Financing cash flow | $890.3M | $809.9M | $54.3M | $37.4M | $157.8M | $380.7M | $20.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-173655.
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