Dyne Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
DYN$17.92-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
(in thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating expenses: | ||||
| Research and development | $97,219 | $92,800 | $302,902 | $199,601 |
| General and administrative | 16,673 | 12,859 | 49,153 | 47,177 |
| Total operating expenses | 113,892 | 105,659 | 352,055 | 246,778 |
| Loss from operations | (113,892) | (105,569) | (352,055) | (246,778) |
| Other income (expense): | ||||
| Interest income | 8,476 | 9,276 | 22,202 | 19,330 |
| Interest expense | (2,904) | — | (2,998) | — |
| Other income (expense), net | 279 | (742) | (1,408) | (428) |
| Total other income (expense), net | 5,851 | 8,534 | 17,796 | 18,902 |
| Net loss | $(108,041) | $(97,125) | $(334,259) | $(227,876) |
| Net loss per share—basic and diluted | $(0.76) | $(0.96) | $(2.74) | $(2.49) |
| Weighted average common shares outstanding, basic and diluted | 141,810,881 | 100,882,042 | 121,980,400 | 91,511,621 |
| Comprehensive loss: | ||||
| Net loss | $(108,041) | $(97,125) | $(334,259) | $(227,876) |
| Other comprehensive loss: | ||||
| Unrealized gains on marketable securities, net | 244 | 718 | 490 | 478 |
| Comprehensive loss | $(107,797) | $(96,407) | $(333,769) | $(227,398) |
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)
(in thousands, except share data and issuance costs)
| Common Stock · AdditionalPaid-In · AccumulatedOther · Accumulated · Stockholders’ | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Capital | Comprehensive Loss | Deficit | Equity | |
| Balance at January 1, 2025 | 102,318,629 | $10 | $1,579,750 | $6 | $(949,928) | $629,838 |
| Issuance of common stock in at-the-market offering, net of issuance costs of $4.4 million | 10,660,159 | 1 | 140,652 | — | — | 140,653 |
| Exercise of stock options | 89,835 | — | 588 | — | — | 588 |
| Stock-based compensation | — | — | 13,020 | — | — | 13,020 |
| Vesting of restricted stock units | 565,159 | — | — | — | — | — |
| Unrealized gains on marketable securities | — | — | — | 235 | — | 235 |
| Net loss | — | — | — | — | (115,361) | (115,361) |
| Balance at March 31, 2025 | 113,633,782 | $11 | $1,734,010 | $241 | $(1,065,289) | $668,973 |
| Exercise of stock options | 488,457 | — | 2,795 | — | — | 2,795 |
| Stock-based compensation | — | — | 10,523 | — | — | 10,523 |
| Vesting of restricted stock units | 216,371 | — | — | — | — | — |
| Unrealized gains on marketable securities | — | — | — | 11 | — | 11 |
| Net loss | — | — | — | — | (110,857) | (110,857) |
| Balance at June 30, 2025 | 114,338,610 | $11 | $1,747,328 | $252 | $(1,176,146) | $571,445 |
| Issuance of common stock in public offering, net of issuance costs of $14.1 million | 27,878,788 | 3 | 215,800 | — | — | 215,803 |
| Exercise of stock options | 151,492 | — | 1,250 | — | — | 1,250 |
| Stock-based compensation | — | — | 11,082 | — | — | 11,082 |
| Vesting of restricted stock units | 244,358 | — | — | — | — | — |
| Unrealized gains on marketable securities | — | — | — | 244 | — | 244 |
| Net loss | — | — | — | — | (108,041) | (108,041) |
| Balance at September 30, 2025 | 142,613,248 | $14 | $1,975,460 | $496 | $(1,284,187) | $691,783 |
| Common Stock · AdditionalPaid-In · AccumulatedOther · Accumulated · Stockholders’ | ||||||
| (in thousands, except per share data) | Shares | Amount | Capital | Comprehensive Loss | Deficit | Equity |
| Balance at January 1, 2024 | 61,468,743 | $6 | $723,796 | $— | $(632,510) | $91,292 |
| Issuance of common stock in public offering, net of issuance costs of $21.3 million | 19,722,500 | 2 | 323,849 | — | — | 323,851 |
| Issuance of common stock in at-the-market offering, net of issuance costs of $3.3 million | 3,800,465 | 1 | 97,870 | — | — | 97,871 |
| Exercise of stock options | 1,858,791 | — | 10,916 | — | — | 10,916 |
| Stock-based compensation | — | — | 19,906 | — | — | 19,906 |
| Vesting of restricted stock units | 239,150 | — | — | — | — | — |
| Unrealized losses on marketable securities | — | — | — | (132) | — | (132) |
| Net loss | — | — | — | — | (65,649) | (65,649) |
| Balance at March 31, 2024 | 87,089,649 | $9 | $1,176,337 | $(132) | $(698,159) | $478,055 |
| Issuance of common stock in public offering, net of issuance costs of $23.0 million | 12,075,000 | 1 | 351,328 | — | — | 351,329 |
| Exercise of stock options | 564,904 | — | 4,283 | — | — | 4,283 |
| Stock-based compensation | — | — | 6,736 | — | — | 6,736 |
| Vesting of restricted stock units | 389,965 | — | — | — | — | — |
| Unrealized losses on marketable securities | — | — | — | (108) | — | (108) |
| Net loss | — | — | — | — | (65,102) | (65,102) |
| Balance at June 30, 2024 | 100,119,518 | $10 | $1,538,684 | $(240) | $(763,261) | $775,193 |
| Exercise of stock options | 1,388,613 | — | 18,009 | — | — | 18,009 |
| Stock-based compensation | — | — | 8,745 | — | — | 8,745 |
| Vesting of restricted stock units | 245,247 | — | — | — | — | — |
| Unrealized gains on marketable securities | — | — | — | 718 | — | 718 |
| Net loss | — | — | — | — | (97,125) | (97,125) |
| Balance at September 30, 2024 | 101,753,378 | $10 | $1,565,438 | $478 | $(860,386) | $705,540 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.