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Dyne Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in research and development expenses to $92.8 million from $55.3 million in the same quarter the previous year. This increase is attributed to higher manufacturing and clinical trial activity for the ACHIEVE and DELIVER trials.
General and administrative expenses increased to $12.9 million from $7.0 million, primarily due to higher intellectual property-related legal costs and increased headcount.
The company reported a net loss of $97.1 million for the quarter, compared to a net loss of $60.2 million in the previous year.
Interest income for the quarter was $9.3 million, up from $2.2 million in the previous year, due to increased cash, cash equivalents, and marketable securities balance.
Cash used in operating activities was $208.0 million for the nine months ended September 30, 2024, compared to $153.2 million in the previous year.
Cash provided by financing activities was $806.3 million for the nine months ended September 30, 2024, mainly from the issuance of common stock in public offerings and at-the-market offerings.
Dyne had cash, cash equivalents, and marketable securities of $723.7 million as of September 30, 2024. The company anticipates these funds will be sufficient to support operations into the second half of 2026.
The report details various risks, including the company's dependence on third-party manufacturers and the potential impact of legislative changes on drug pricing and reimbursement.
Dyne Therapeutics continues to focus on advancing its clinical programs, including the ongoing ACHIEVE trial for DYNE-101 and the DELIVER trial for DYNE-251.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dyne Therapeutics Inc. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.