DYN 8-K
Dyne Therapeutics, Inc. (DYN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 28, 2025, Dyne Therapeutics, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filling.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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99.1 104 |
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Press Release issued by Dyne Therapeutics, Inc. on July 28, 2025 Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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DYNE THERAPEUTICS, INC. |
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Date: July 28, 2025 |
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By: |
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/s/ John G. Cox |
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Name: |
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John G. Cox |
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Title: |
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President and Chief Executive Officer |
Exhibit 99.1
Dyne Therapeutics Reports Second Quarter 2025 Financial Results and Recent Business Highlights
- Expected cash runway extended into Q3 2027, beyond multiple potential inflection points including Dyne’s first planned commercial launch in early 2027 -
- Registrational Expansion Cohort of DELIVER Trial of DYNE-251 in DMD fully enrolled to support potential submission for U.S. Accelerated Approval in early 2026 -
- Registrational Expansion Cohort of ACHIEVE Trial of DYNE-101 in DM1 ongoing to support potential submission for U.S. Accelerated Approval in late 2026 -
WALTHAM, Mass., July 28, 2025 – Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases, today reported financial results for the second quarter of 2025 and recent business highlights.
“This quarter we made significant progress on our clinical and regulatory plans for our DM1 and DMD investigational therapies, as we advance both programs toward potential U.S. Accelerated Approval submissions in 2026 and possible commercial launches in 2027,” said John Cox, president and chief executive officer of Dyne. “We also strengthened our balance sheet, extending our cash runway into the third quarter of 2027 and believe we are well funded to achieve multiple value-creating milestones including two data readouts in DM1 and DMD, two potential U.S. Accelerated Approval submissions in those indications, and the potential launch of DYNE-251 in DMD in the U.S.”
DYNE-101 in Myotonic Dystrophy Type 1 (DM1)
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DYNE-251 in Duchenne Muscular Dystrophy (DMD)
DYNE-302 in Facioscapulohumeral Muscular Dystrophy (FSHD)
Financing Updates
Cash Runway
Dyne expects that its existing cash, cash equivalents and marketable securities, including the net proceeds from the July 2025 public offering and initial term loan tranche from Hercules Capital, will be sufficient to fund its operating expenses, debt service obligations, and capital expenditure requirements into the third quarter of 2027.
Based on the company’s current plans and anticipated timelines, Dyne estimates that these funds would be sufficient to enable the company to:
Second Quarter Financial Results
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Cash position: Cash, cash equivalents and marketable securities were $683.9 million as of June 30, 2025. In July 2025, the Company completed an underwritten public offering of 27,878,788 shares of its common stock for estimated net proceeds of approximately $215.2 million. The Company expects that its cash, cash equivalents and marketable securities as of June 30, 2025, together with the net proceeds from the July 2025 underwritten public offering, will be sufficient to fund its operations into the third quarter of 2027.
Research and development (R&D) expenses: R&D expenses were $99.2 million for the three months ended June 30, 2025 compared to $62.3 million for the three months ended June 30, 2024.
General and administrative (G&A) expenses: G&A expenses were $16.6 million for the three months ended June 30, 2025 compared to $9.7 million for the three months ended June 30, 2024.
Net loss: Net loss for the three months ended June 30, 2025 was $110.9 million, or $0.97 per basic and diluted share. This compares with a net loss of $65.1 million, or $0.70 per basic and diluted share, for the three months ended June 30, 2024.
About Dyne Therapeutics
Dyne Therapeutics is focused on delivering functional improvement for people living with genetically driven neuromuscular diseases. We are developing therapeutics that target muscle and the central nervous system (CNS) to address the root cause of disease. The company is advancing clinical programs for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD), and preclinical programs for facioscapulohumeral muscular dystrophy (FSHD) and Pompe disease. At Dyne, we are on a mission to deliver functional improvement for individuals, families and communities. Learn more at https://www.dyne-tx.com/, and follow us on X, LinkedIn and Facebook.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding: Dyne’s strategy, future operations, prospects and plans, objectives of management; the potential of the FORCE platform, the potential of DYNE-101 and DYNE-251; the anticipated timelines for reporting additional data from the ACHIEVE and DELIVER clinical trials, initiating and enrolling registrational cohorts, initiating additional clinical trials, submitting applications for marketing approval and commercial launches; the availability of expedited approval pathways for DYNE-101 and DYNE-251; expectations regarding the timing and outcome of interactions with regulatory authorities; and the sufficiency of Dyne’s cash resources for the period anticipated, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Dyne may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking
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statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the identification and development of product candidates, including the initiation and completion of preclinical studies and clinical trials; uncertainties as to the availability and timing of results from preclinical studies and clinical trials; uncertainties as to the timing of and Dyne’s ability to enroll patients in clinical trials; whether results from preclinical studies and data from clinical trials will be predictive of the final results of the clinical trials or other trials; whether data from clinical trials will support submission for regulatory approvals; uncertainties as to the FDA’s and other regulatory authorities’ interpretation of the data from Dyne's clinical trials and acceptance of Dyne's clinical programs and as to the regulatory approval process for Dyne’s product candidates; whether Dyne’s cash resources will be sufficient to fund its foreseeable and unforeseeable operating expenses, debt service obligations and capital expenditure requirements; as well as the risks and uncertainties identified in Dyne’s filings with the Securities and Exchange Commission (SEC), including the company’s most recent Form 10-Q and in subsequent filings Dyne may make with the SEC. In addition, the forward-looking statements included in this press release represent Dyne’s views as of the date of this press release. Dyne anticipates that subsequent events and developments will cause its views to change. However, while Dyne may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Dyne’s views as of any date subsequent to the date of this press release.
Dyne Therapeutics, Inc. |
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Condensed Consolidated Statement of Operations |
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(in thousands, except share and per share data) |
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Three Months Ended |
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June 30, |
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2025 |
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2024 |
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Operating expenses: |
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Research and development |
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$ |
99,236 |
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$ |
62,263 |
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General and administrative |
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16,555 |
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9,699 |
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Total operating expenses |
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115,791 |
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71,962 |
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Loss from operations |
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(115,791 |
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(71,962 |
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Other (expense) income, net |
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4,934 |
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6,860 |
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Net loss |
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$ |
(110,857 |
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$ |
(65,102 |
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Net loss per share, basic and diluted |
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$ |
(0.97 |
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$ |
(0.70 |
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Weighted average common shares outstanding, basic and diluted |
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113,873,126 |
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92,507,815 |
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June 30, |
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December 31, |
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2025 |
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2024 |
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Assets |
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Cash, cash equivalents and marketable securities |
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$ |
683,925 |
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$ |
642,268 |
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Other assets |
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45,067 |
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48,966 |
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Total assets |
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$ |
728,992 |
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$ |
691,234 |
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Liabilities and Stockholders’ Equity |
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Liabilities |
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157,547 |
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61,396 |
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Stockholders’ equity |
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571,445 |
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629,838 |
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Total liabilities and stockholders’ equity |
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$ |
728,992 |
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$ |
691,234 |
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Contacts:
Investors
Mia Tobias
[email protected]
781-317-0353
Media
Stacy Nartker
[email protected]
781-317-1938
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