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Jun 30, 2022
Design Therapeutics Q2 2022 Earnings Report
Reported second quarter 2022 financial results and highlighted upcoming milestones.
Key Takeaways
Design Therapeutics reported a net loss of $15.0 million for the second quarter of 2022 and holds a strong financial position with $359.4 million in cash and securities. The company is advancing its pipeline, with initial data from the Friedreich Ataxia Phase 1 trial expected in the fourth quarter of 2022.
Initial data from the Friedreich Ataxia Phase 1 trial of DT-216 is expected in the fourth quarter of 2022.
The company's GeneTAC™ program for myotonic dystrophy type-1 (DM1) has advanced.
Compelling preclinical data was announced in Fuchs endothelial corneal dystrophy (FECD).
Cash, cash equivalents and marketable securities were $359.4 million as of June 30, 2022, supporting a multi-year operating runway.
Forward Guidance
Design Therapeutics anticipates several milestones, including initial data from the DT-216 Phase 1 trial, clinical development for the DM1 program, and advancing research in FECD.
Positive Outlook
- Initial data from the single-ascending dose portion of the Phase 1 trial for DT-216 is expected in the fourth quarter of 2022.
- Clinical development for the DM1 program is anticipated in 2023.
- Research in FECD is advancing throughout the second half of 2022.
- Design's approach paves the way for disease-modifying treatments for patients with inherited genetic diseases.
- The company is bringing forward a new class of treatments for patients living with devastating genetic diseases.
Challenges Ahead
- Clinical trial and patient enrollment are affected by many factors.
- Difficulties or delays encountered with clinical trials may adversely affect Design’s ongoing Phase 1 clinical trial for DT-216.
- Promising early research or clinical trials may not demonstrate safety and/or efficacy in later preclinical studies or clinical trials.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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