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DYN

Dyne Therapeutics, Inc.

DYN

Dyne Therapeutics, Inc. • NASDAQ
$21.90 ▲ 3.45% (+0.73)
Market Cap $3.13 B
52w High $30.46
52w Low $6.36
Dividend Yield 0%
P/E -6.05
Volume 2.26M
Outstanding Shares 142.82M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $113.892M ▼ $-108.041M ▲ 0% $-0.76 ▲ $-104.614M ▲
Q2-2025 $0 $115.791M ▼ $-110.857M ▲ 0% $-0.97 ▲ $-110.26M ▲
Q1-2025 $0 $122.372M ▲ $-115.361M ▼ 0% $-1.05 ▼ $-121.87M ▼
Q4-2024 $0 $97.108M ▼ $-89.542M ▲ 0% $-0.88 ▲ $-96.658M ▲
Q3-2024 $0 $105.659M $-97.125M 0% $-0.96 $-105.221M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $791.887M ▲ $867.059M ▲ $175.276M ▲ $691.783M ▲
Q2-2025 $683.925M ▲ $728.992M ▲ $157.547M ▲ $571.445M ▼
Q1-2025 $677.492M ▲ $721.074M ▲ $52.101M ▼ $668.973M ▲
Q4-2024 $642.268M ▼ $691.234M ▼ $61.396M ▼ $629.838M ▼
Q3-2024 $723.674M $768.844M $63.304M $705.54M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-108.041M ▲ $-90.779M ▲ $-37.965M ▼ $217.327M ▲ $88.57M ▲ $-109.964M ▼
Q2-2025 $-110.858M ▲ $-94.703M ▲ $6.774M ▲ $100.774M ▼ $12.845M ▼ $-94.763M ▲
Q1-2025 $-115.361M ▼ $-105.893M ▼ $1.458M ▲ $141.241M ▲ $36.806M ▲ $-106.874M ▼
Q4-2024 $-89.542M ▲ $-84.335M ▼ $-16.01M ▲ $3.636M ▼ $-96.714M ▼ $-85.41M ▼
Q3-2024 $-97.125M $-74.629M $-19.403M $18.009M $-76.023M $-74.882M

Five-Year Company Overview

Income Statement

Income Statement Dyne is a classic pre‑revenue biotech. It has not yet generated product sales, so the income statement is entirely driven by research and development and general operating costs. Losses have widened over time as the company has scaled up clinical trials and built out its organization, though the pace of increase in losses appears to have recently started to moderate. This pattern is typical for a clinical‑stage platform company: expenses come first, well ahead of any potential revenue, and financial results will remain loss‑making until at least one program reaches market, if that happens at all.

Balance Sheet

Balance Sheet The balance sheet shows a company that is currently funded mainly with equity and holds a meaningful cash position relative to its size. Cash and total assets have increased sharply in the most recent year, which likely reflects capital raised to support late‑stage trials. Debt is very low, so the capital structure is relatively clean and not heavily burdened by interest obligations. Shareholders’ equity remains positive, which is a healthy sign for a young biotech, but it will be sensitive to ongoing losses and any future equity raises that dilute existing holders.

Cash Flow

Cash Flow Cash flows are negative, driven almost entirely by research and development spending and day‑to‑day operating costs. The amount of cash used in operations has gradually increased as the pipeline has advanced and more trials have begun. Capital spending on facilities and equipment is minimal, so “cash burn” is largely tied to people, trials, and intellectual property. This means Dyne is reliant on external financing—primarily equity offerings or partnerships—to replenish cash over time. How long current cash will last depends on the future pace of spending and any business development deals or capital raises.

Competitive Edge

Competitive Edge Dyne’s competitive strength centers on its FORCE platform, which is designed to deliver genetic medicines directly to muscle, addressing a key challenge in treating muscle diseases. Its focus on rare, severe conditions such as myotonic dystrophy and Duchenne muscular dystrophy puts it in high‑need markets where regulators and payers can be more supportive if clinical data are strong. The platform’s flexibility—able to work with different types of genetic payloads—adds to its potential reach. However, Dyne faces serious competition from both specialized peers and larger companies, including players working on similar muscle‑targeting technologies and existing standards of care. Being first or best in class will depend on upcoming trial results, safety profiles, and how regulators view the data.

Innovation and R&D

Innovation and R&D R&D is the company’s core activity and biggest cost, and it is focused on building a broad franchise around its FORCE platform. The lead programs in myotonic dystrophy and Duchenne muscular dystrophy are already in human trials and have shown encouraging biomarker and early functional data, with plans to pursue accelerated approval routes. Beyond these, Dyne is pushing the same technology into other muscle diseases and even exploring delivery to the central nervous system, which could significantly expand its scope. This creates substantial upside potential but also concentrates risk: nearly all of the company’s value depends on the success of a single platform and a handful of clinical programs, any of which could face setbacks in trials or with regulators.

Summary

Dyne Therapeutics is a pre‑revenue, clinical‑stage biotech with a focused but ambitious strategy: use a single targeted delivery platform to tackle multiple rare muscle diseases. Financially, it is in the expected position for a company at this stage—no revenue, rising operating losses, negative cash flow, and a balance sheet supported mainly by cash and equity with little debt. Scientifically, it appears to have a differentiated technology and early data that support its approach, plus a pipeline that could grow if the platform continues to validate. The main opportunities lie in potential breakthrough treatments and regulatory acceleration; the main risks lie in trial uncertainty, regulatory outcomes, the need for ongoing funding, and competition from both specialized rivals and large pharma. Overall, Dyne is a high‑risk, high‑dependency story centered on whether its FORCE platform can translate promising early science into approved therapies.

NEWS

November 5, 2025 · 4:10 PM UTC

Dyne Therapeutics Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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November 3, 2025 · 7:30 AM UTC

Dyne Therapeutics to Present at Upcoming Investor Conferences

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October 6, 2025 · 6:01 PM UTC

Dyne Therapeutics Announces Additional One-Year Clinical Data Demonstrating Functional Improvement from Phase 1/2 ACHIEVE Trial of Zeleciment Basivarsen (DYNE-101) for Myotonic Dystrophy Type 1 (DM1)

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October 2, 2025 · 4:05 PM UTC

Dyne Therapeutics Appoints Brian Posner to its Board of Directors

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September 29, 2025 · 8:35 AM UTC

Dyne Therapeutics Receives Orphan Drug Designation in Japan for DYNE-251 in Duchenne Muscular Dystrophy

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