Dyne Therapeutics, Inc. Segments Disclosure
12. Segment Reporting
The Company’s segment determination is based on the financial results that are regularly evaluated by the Company’s chief operating decision maker ("CODM") to determine resource allocation and assess performance. The Company's CODM is its chief executive officer. The Company has one operating and one reportable segment. Net long-lived assets are all physically located in the United States and the total assets of the segment equal the total assets presented on the consolidated balance sheet. The primary financial measure by which the CODM evaluates the business is net loss. The CODM uses net loss to monitor budget versus actual results to assess performance of the segment. A summary of the significant segment expenses reported to the CODM are shown below for the fiscal years ended:
|
|
Year Ended December 31, |
|
|||||||||
(in thousands) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Operating Expenses |
|
|
|
|
|
|
|
|
|
|||
Z-rostudirsen (DMD) |
|
$ |
98,963 |
|
|
$ |
90,468 |
|
|
$ |
63,942 |
|
Z-basivarsen (DM1) |
|
|
145,077 |
|
|
|
74,082 |
|
|
|
67,056 |
|
Platform and external research and development |
|
|
30,831 |
|
|
|
26,514 |
|
|
|
13,169 |
|
Personnel related |
|
|
86,467 |
|
|
|
63,321 |
|
|
|
48,907 |
|
Stock-based compensation |
|
|
45,851 |
|
|
|
45,864 |
|
|
|
19,972 |
|
Facility-related and other operating expenses |
|
|
29,450 |
|
|
|
23,001 |
|
|
|
20,419 |
|
Professional and consulting fees |
|
|
31,545 |
|
|
|
20,636 |
|
|
|
8,697 |
|
Interest income |
|
|
(29,859 |
) |
|
|
(26,922 |
) |
|
|
(7,641 |
) |
Interest expense |
|
|
6,192 |
|
|
|
— |
|
|
|
— |
|
Other expense, net |
|
|
1,697 |
|
|
|
454 |
|
|
|
1,416 |
|
Net loss |
|
$ |
446,214 |
|
|
$ |
317,418 |
|
|
$ |
235,937 |
|
The amounts disclosed above for z-rosturdirsen and z-basivarsen include only external expenses.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.