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Sep 30, 2020
Dyne Therapeutics Q3 2020 Earnings Report
Reported financial results for the third quarter 2020 and recent business highlights.
Key Takeaways
Dyne Therapeutics reported a net loss of $13.9 million for the third quarter of 2020, with cash and cash equivalents totaling $379.6 million. The company successfully completed its IPO, raising $267.7 million in gross proceeds, and a Series B financing, raising $115.7 million.
Completed IPO of common stock, raising gross proceeds of $267.7 million.
Completed Series B preferred stock financing, raising gross proceeds of $115.7 million.
Appointed Susanna High as chief operating officer.
Appointed Francesco Muntoni to its Scientific Advisory Board.
Dyne Therapeutics
Dyne Therapeutics
Forward Guidance
Dyne expects to have sufficient cash resources to support planned IND submissions for its three programs between Q4 2021 and Q4 2022 and achieve proof-of-concept data for its myotonic dystrophy type 1 and Duchenne muscular dystrophy programs.