Dyne Therapeutics, Inc.
Business
Dyne Therapeutics is a clinical-stage biopharmaceutical company developing targeted therapeutics for genetically driven neuromuscular diseases using its proprietary FORCE platform, which conjugates transferrin receptor 1-binding antibody fragments to disease-modifying payloads for delivery to muscle and CNS tissues. The company is advancing product candidates for Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1), facioscapulohumeral dystrophy (FSHD), and Pompe disease through Phase 1/2 clinical trials, with plans for regulatory submissions and potential launches in 2026–2028. Dyne operates as a single reportable segment and has global commercial rights to all programs.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
| Concept | Trend | 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 | 398 | 281 | 211 | 143 | 121 | |
| General and administrative | 70 | 62 | 31 | 28 | 29 | |
| Total operating expenses | 468 | 344 | 242 | 171 | 150 | |
| Loss from operations | −468 | −344 | −242 | −171 | −150 | |
| Interest income | 30 | 27 | 8 | 3 | 742,000 | |
| Interest expense | −6 | 0 | 0 | — | — | |
| Other expense, net | −2 | −454,000 | −1 | −54,000 | −8,000 | |
| Total other income, net | 22 | 26 | 6 | 3 | 734,000 | |
| Net loss | −446 | −317 | −236 | −168 | −149 | |
| Net loss per share, diluted | −3.47 | −3.37 | −3.95 | −3.23 | −2.93 | |
| Net loss per share, basic | −3.47 | −3.37 | −3.95 | −3.23 | −2.93 | |
| Weighted average common shares outstanding, basic | 128 | 94 | 60 | 52 | 51 | |
| Weighted average common shares outstanding, diluted | 128 | 94 | 60 | 52 | 51 | |
| Unrealized gains on marketable securities, net | 469,000 | 6,000 | 571,000 | −302,000 | −242,000 | |
| Comprehensive loss | −446 | −317 | −235 | −168 | −150 |
Consolidated Balance Sheet
| Concept | Trend | 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 | 893 | 435 | 122 | 172 | 201 | |
| Marketable securities | 217 | 207 | 1 | 84 | 176 | |
| Prepaid expenses and other current assets | 16 | 17 | 6 | 10 | 6 | |
| Total current assets | 1,127 | 659 | 129 | 266 | 382 | |
| Property and equipment, net | 24 | 5 | 5 | 6 | 5 | |
| Right-of-use assets | 21 | 25 | 29 | 32 | 36 | |
| Restricted cash and other assets | 16 | 2 | 2 | 2 | 2 | |
| Total assets | 1,187 | 691 | 165 | 306 | 426 | |
| Accounts payable | 8 | 7 | 23 | 5 | 4 | |
| Accrued expenses and other current liabilities | 38 | 31 | 23 | 18 | 21 | |
| Lease liabilities | 5 | 5 | 5 | 5 | 4 | |
| Total current liabilities | 51 | 42 | 51 | 28 | 29 | |
| Long-term debt, net | 149 | 0 | — | — | — | |
| Lease liabilities, net of current portion | 15 | 19 | 23 | 26 | 29 | |
| Total liabilities | 215 | 61 | 74 | 54 | 57 | |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value; 200,000,000 shares authorized at December 31, 2025 and 2024; 164,950,540 and 102,318,629 shares issued and outstanding at December 31, 2025 and 2024, respectively | 16,000 | 10,000 | 6,000 | 6,000 | 6,000 | |
| Additional paid-in capital | 2,368 | 1,580 | 724 | 650 | 597 | |
| Accumulated other comprehensive gain | 475,000 | 6,000 | 0 | −571,000 | −269,000 | |
| Accumulated deficit | −1,396 | −950 | −633 | −397 | −228 | |
| Total stockholders equity | 972 | 630 | 91 | 252 | 368 | |
| Total liabilities and stockholders equity | 1,187 | 691 | 165 | 306 | 426 |
Consolidated Statement of Cash Flows
| Concept | Trend | 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 | −446 | −317 | −236 | −168 | −149 | |
| Stock-based compensation expense | 46 | 46 | 20 | 15 | 18 | |
| Depreciation and amortization expense | 2 | 2 | 2 | 2 | 1 | |
| Accretion of discount on marketable securities | −2 | −4 | −1 | 1 | 3 | |
| Loss (gain) on sale of marketable securities | −30,000 | −35,000 | 23,000 | 34,000 | — | |
| Non-cash lease expense | 163,000 | 570,000 | 788,000 | 2 | −746,000 | |
| Non-cash interest expense | 118,000 | 0 | 0 | — | — | |
| Loss on disposal of property and equipment | 95,000 | 72,000 | 118,000 | 0 | — | |
| Prepaid expenses and other current assets | 986,000 | −11 | 3 | −4 | −2 | |
| Other non-current assets | −13 | 0 | 0 | — | — | |
| Accounts payable and other liabilities | 8 | −9 | 23 | −1 | 14 | |
| Net cash used in operating activities | −403 | −292 | −188 | −154 | −120 | |
| Purchases of property and equipment | −2 | −2 | −729,000 | −3 | −4 | |
| Advance payment for long-lead equipment | −19 | 0 | 0 | — | — | |
| Purchases of marketable securities | −181 | −317 | −44 | −121 | −237 | |
| Maturities of marketable securities | 155 | 105 | 126 | 208 | 98 | |
| Sales of marketable securities | 18 | 11 | 2 | 3 | 4 | |
| Net cash (used in) provided by investing activities | −29 | −204 | 83 | 87 | −138 | |
| Proceeds from issuance of common stock in public offering, net of issuance costs | 594 | 675 | 0 | 0 | 157 | |
| Proceeds from issuance of common stock in at-the-market offering, net of issuance costs | 141 | 98 | 52 | 37 | — | |
| Proceeds from exercise of stock options | 8 | 37 | 2 | 529,000 | 584,000 | |
| Proceeds from issuance of long-term debt, net of issuance costs paid | 148 | 0 | 0 | — | — | |
| Payment of debt issuance costs | −558,000 | 0 | 0 | — | — | |
| Net cash provided by financing activities | 890 | 810 | 54 | 37 | 158 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 458 | 313 | −51 | −29 | −100 | |
| Purchase of property and equipment in accounts payable | 65,000 | 0 | 12,000 | 85,000 | 202,000 | |
| Cash paid for interest | 4 | 0 | 0 | — | — | |
| Debt issuance costs included in accounts payable or accrued expenses | 30,000 | 0 | 0 | — | — | |
| Offering costs included in accounts payable or accrued expenses | 424,000 | 0 | 0 | — | — | |
| Proceeds from employee stock option exercise in other receivables | 0 | 199,000 | 0 | 0 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Dyne Therapeutics, Inc.'s CIK number?
Dyne Therapeutics, Inc.'s SEC CIK number is 0001818794 (1818794). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Dyne Therapeutics, Inc.'s SEC filings?
All of Dyne Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Dyne Therapeutics, Inc. last report earnings?
Dyne Therapeutics, Inc. (DYN) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-215720). This is Dyne Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Dyne Therapeutics, Inc.'s most recent earnings 8-K?
Dyne Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001193125-26-215720. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Dyne Therapeutics, Inc.'s latest earnings 8-K →
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