$DSGN
Design Therapeutics, Inc.

2021 Q4 Form 10-Q Financial Statement

#000095017021003753 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $20.00K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.790M $2.798M
YoY Change
% of Gross Profit
Research & Development $7.337M $8.539M $1.914M
YoY Change 346.13%
% of Gross Profit
Depreciation & Amortization $82.00K $31.00K
YoY Change
% of Gross Profit
Operating Expenses $11.13M $11.34M $2.403M
YoY Change 371.79%
Operating Profit -$11.34M -$2.383M
YoY Change 375.74%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $62.00K $19.00K $63.00K
YoY Change -69.84%
Pretax Income -$11.07M -$11.32M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$11.07M -$11.32M -$2.320M
YoY Change 387.84%
Net Earnings / Revenue -11600.0%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share -$199.5K -$205.2K
COMMON SHARES
Basic Shares Outstanding 55.66M 55.16M
Diluted Shares Outstanding 55.16M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $384.1M $393.7M
YoY Change 964.15%
Cash & Equivalents $298.6M $357.7M $3.224M
Short-Term Investments $85.50M $36.06M
Other Short-Term Assets $7.000K $1.572M
YoY Change -72.0%
Inventory
Prepaid Expenses $1.254M $1.421M
Receivables
Other Receivables
Total Short-Term Assets $385.4M $395.3M
YoY Change 963.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.508M $1.320M
YoY Change 2023.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $5.122M $5.063M
YoY Change 1709.89%
TOTAL ASSETS
Total Short-Term Assets $385.4M $395.3M
Total Long-Term Assets $5.122M $5.063M
Total Assets $390.6M $400.4M
YoY Change 969.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.620M $2.216M
YoY Change 15.8%
Accrued Expenses $3.663M $3.289M
YoY Change 293.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.283M $5.505M
YoY Change 126.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.144M $11.00K
YoY Change 2068.28%
Total Long-Term Liabilities $3.144M $11.00K
YoY Change 2068.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.283M $5.505M
Total Long-Term Liabilities $3.144M $11.00K
Total Liabilities $8.427M $8.789M
YoY Change 240.48%
SHAREHOLDERS EQUITY
Retained Earnings -$47.46M -$36.39M
YoY Change 298.02%
Common Stock $429.8M $428.0M
YoY Change 94995.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $382.1M $391.6M -$7.886M
YoY Change
Total Liabilities & Shareholders Equity $390.6M $400.4M
YoY Change 969.55%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$11.07M -$11.32M -$2.320M
YoY Change 387.84%
Depreciation, Depletion And Amortization $82.00K $31.00K
YoY Change
Cash From Operating Activities -$9.227M -$8.164M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$354.0K -$968.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$49.71M -$4.074M
YoY Change
Cash From Investing Activities -$50.06M -$5.042M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 193.0K 30.00K
YoY Change
NET CHANGE
Cash From Operating Activities -9.227M -8.164M
Cash From Investing Activities -50.06M -5.042M
Cash From Financing Activities 193.0K 30.00K
Net Change In Cash -59.09M -13.18M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$9.227M -$8.164M
Capital Expenditures -$354.0K -$968.0K
Free Cash Flow -$8.873M -$7.196M
YoY Change

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities
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dsgn Proceeds From Notes Payable Related Party
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Nature Of Operations
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">1. Organization</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Design Therapeutics, Inc. (the “Company”) was incorporated in Delaware in December 2017 and is based in Carlsbad, California. The Company is a biopharmaceutical company pioneering GeneTAC</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;vertical-align:top;font-size:6.7pt;font-family:Times New Roman;">TM</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> molecules, a novel class of disease-modifying small-molecule gene targeted chimera therapeutics that are designed to target the underlying cause of inherited nucleotide repeat expansion diseases. The Company’s lead product candidate is in Friedreich ataxia (“FA”), its second GeneTAC™ program is in myotonic dystrophy type-1 (“DM1”), and it is also advancing its GeneTAC</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;vertical-align:top;font-size:6.7pt;font-family:Times New Roman;">TM</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> portfolio to address other serious nucleotide repeat-driven monogenic diseases.</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company has experienced net losses and negative cash flows from operating activities since inception and expects to incur net losses for the foreseeable future as it advances its research and development programs, conducts clinical trials for any future product candidates and commercializes any such product candidates for which it receives regulatory approval. As the Company continues to incur losses, its transition to profitability will depend on the successful development, approval and commercialization of its future product candidates, and on the achievement of sufficient revenue to support its cost structure. The Company may never achieve profitability, and unless and until it does, it will need to continue to raise additional capital to fund its operations.</span>
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5-for-1
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CY2021Q3 dsgn Short Term Lease Liability
ShortTermLeaseLiability
0
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2021Q3 dsgn Lease Agreement Termination Date
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2021-09
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q4 us-gaap Investments Fair Value Disclosure
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CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
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CY2021Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
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CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
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CY2021Q3 dsgn Number Of Domestic Certificates Of Deposit Held
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CY2020Q4 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2021Q3 dsgn Accrued Research And Development Expense Current
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CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
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CY2020Q4 us-gaap Other Assets Current
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CY2021Q3 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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76000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
52000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2021Q3 us-gaap Property Plant And Equipment Net
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CY2021Q3 us-gaap Accrued Liabilities Current
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CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2021Q3 dsgn Lessee Operating Lease Liability Payments Due After Year Four
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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886000
CY2019Q1 us-gaap Convertible Debt
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200000
CY2019Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.08
CY2019Q1 dsgn Percentage Of Selling Price Per Share That Can Convertible Into Equity Securities Sold
PercentageOfSellingPricePerShareThatCanConvertibleIntoEquitySecuritiesSold
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CY2020Q1 us-gaap Debt Conversion Original Debt Amount1
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UnvestedStockLiabilityVestedSharesValue
8000
CY2021Q3 dsgn Unvested Stock Liability
UnvestedStockLiability
137000

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