Design Therapeutics, Inc.

Listed Company

DSGNCIK 0001807120NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-69.79M

Total Assets

$226.20M

Equity

$212.50M

Shares Out

62.46M

Op. Cash Flow

$-54.36M

Business

Design Therapeutics, Inc. is a clinical-stage biopharmaceutical company pioneering GeneTAC® small-molecule gene-targeted chimera therapeutics to address inherited nucleotide repeat expansion diseases. It develops GeneTAC® molecules that selectively target expanded repeat sequences to modulate mRNA transcription and restore cellular function, with lead candidates including DT-216/DT-216P2 for Friedreich ataxia and DT-168 for Fuchs endothelial corneal dystrophy. Key business segments comprise discovery and preclinical research, clinical development across programs for FA, FECD, DM1 and HD, and reliance on third-party cGMP manufacturers. Its programs operate in multiple jurisdictions through clinical trial networks and employ conventional small-molecule distribution and administration routes, including topical ocular and systemic IV and subcutaneous delivery.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development (including related party amounts of $915 and $891, respectively)	59	44	57	49	25
General and administrative (including related party amounts of $528 and $537, respectively)	20	18	21	19	11
Total operating expenses	79	62	78	68	36
Loss from operations	−79	−62	−78	−68	−36
Interest income	10	13	11	—	—
Net loss	−70	−50	−67	−63	−36
Net loss per share, basic	−1.22	−0.88	−1.19	−1.14	−0.77
Net loss per share, diluted	−1.22	−0.88	−1.19	−1.14	−0.77
Weighted-average shares of common stock outstanding, basic	57	57	56	56	46
Weighted-average shares of common stock outstanding, diluted	57	57	56	56	46

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	17	23	21	27	299
Investment securities	203	223	261	304	85
Prepaid expenses and other current assets	4	3	3	5	1
Total current assets	224	248	285	335	385
Property and equipment, net	981,000	1	2	2	2
Right-of-use asset, related party	1	2	3	4	4
Other assets	0	427,000	430,000	459,000	—
Total assets	226	252	290	341	391
Accounts payable	2	2	2	3	2
Accrued expenses and other current liabilities (including related party amounts of $890 and $800, respectively)	11	6	8	8	4
Total current liabilities	13	8	10	11	5
Operating lease liability, net, related party	645,000	2	2	3	3
Total liabilities	14	10	12	14	8
Commitments and contingencies (See Note 11)	—	—	—	—	—
Common stock: $0.0001 par value; 200,000,000 shares authorized, 60,398,051 and 56,754,341 shares issued and outstanding at December 31, 2025 and 2024, respectively	6,000	6,000	6,000	6,000	6,000
Additional paid-in capital	509	469	455	441	430
Accumulated deficit	−297	−227	−178	−111	−47
Accumulated other comprehensive income	403,000	475,000	62,000	−3	−244,000
Total stockholders' equity	213	242	278	327	382
Total liabilities and stockholders' equity	226	252	290	341	391

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−70	−50	−67	−63	−36
Depreciation	622,000	596,000	537,000	406,000	129,000
Stock-based compensation	15	13	13	11	5
Amortization of premiums on investment securities, net	−3	−6	−6	−1	−77,000
Non-cash lease expense	−21,000	6,000	—	—	—
Deferred financing costs	427,000	0	—	—	—
Prepaid expense and other assets	−1	226,000	2	−3	−1
Accounts payable and other liabilities	4	−1	−1	5	2
Net cash used in operating activities	−54	−43	−59	−51	−29
Purchases of investment securities	−292	−230	−225	−313	−86
Proceeds from maturities of investment securities	315	274	277	93	34
Purchases of property and equipment	−193,000	−340,000	−256,000	−918,000	−2
Net cash provided by investing activities	23	44	53	−221	−54
Proceeds from the issuance of common stock in at-the-market offering, net of issuance costs	25	0	—	—	—
Proceeds from the exercise of stock options	200,000	36,000	400,000	300,000	34,000
Issuance of common stock through employee stock purchase plan	649,000	477,000	305,000	339,000	194,000
Net cash provided by financing activities	26	513,000	724,000	235,000	379
Net decrease in cash and cash equivalents	−6	1	−5	−272	296
Issuance costs included in accrued expenses	17,000	0	—	—	—

Filings

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