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Sep 30, 2024
Design Therapeutics Q3 2024 Earnings Report
Design Therapeutics reported third quarter 2024 financial results and reviewed near-term milestones for GeneTAC™ portfolio.
Key Takeaways
Design Therapeutics reported a net loss of $13.0 million for the third quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $254.1 million as of September 30, 2024, expected to fund operations into 2029. Phase 1 trial in FECD initiated with data expected in the first half of 2025.
Phase 1 trial initiated for Fuchs Endothelial Corneal Dystrophy (FECD) with data expected in the first half of 2025.
Friedreich Ataxia (FA) program on track to initiate Phase 1 study in the first half of 2025.
Research pipeline advancing with programs in Myotonic Dystrophy Type-1 (DM1) and Huntington’s Disease (HD).
Cash and securities of $254.1 million expected to fund operations through up to four potential clinical proof-of-concept data sets.
Forward Guidance
Design Therapeutics anticipates a busy first half of 2025 with data expected from the ongoing Phase 1 trial in FECD and the start of clinical activities for the FA program.
Positive Outlook
- Data expected from ongoing Phase 1 trial in FECD in the first half of 2025.
- FA program on track to initiate Phase 1 study in the first half of 2025.
- Beginning FA patient dosing later in 2025.
- Advancing preclinical characterization of lead molecules for Huntington’s disease (HD).
- Advancing preclinical characterization of lead molecules for myotonic dystrophy type-1 (DM1).
Historical Earnings Impact
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