$DYN
Dyne Therapeutics Inc

2023 Q3 Form 10-Q Financial Statement

#000095017023037585 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.020M $7.606M
YoY Change -7.74% 24.87%
% of Gross Profit
Research & Development $55.25M $59.13M
YoY Change 59.36% 26.71%
% of Gross Profit
Depreciation & Amortization $400.0K $400.0K
YoY Change 0.0% -20.0%
% of Gross Profit
Operating Expenses $62.27M $66.74M
YoY Change 47.29% 26.5%
Operating Profit -$62.27M -$66.74M
YoY Change 47.29% 26.5%
Interest Expense $2.190M $2.207M
YoY Change 142.52% 400.45%
% of Operating Profit
Other Income/Expense, Net $2.063M $1.834M
YoY Change 130.76% 306.65%
Pretax Income -$60.21M -$64.90M
YoY Change 45.49% 24.09%
Income Tax
% Of Pretax Income
Net Earnings -$60.21M -$64.90M
YoY Change 45.49% 24.09%
Net Earnings / Revenue
Basic Earnings Per Share -$0.99 -$1.08
Diluted Earnings Per Share -$0.99 -$1.08
COMMON SHARES
Basic Shares Outstanding 61.02M 58.31M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.8M $207.7M
YoY Change -36.4% -28.82%
Cash & Equivalents $130.3M $167.6M
Short-Term Investments $27.54M $40.13M
Other Short-Term Assets $10.40M $5.440M
YoY Change 3.05% -10.76%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $168.2M $213.2M
YoY Change -34.86% -28.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.112M $5.359M
YoY Change -10.97% -2.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.300M $2.323M
YoY Change -0.73% 0.35%
Total Long-Term Assets $37.03M $38.25M
YoY Change -10.66% -9.13%
TOTAL ASSETS
Total Short-Term Assets $168.2M $213.2M
Total Long-Term Assets $37.03M $38.25M
Total Assets $205.2M $251.4M
YoY Change -31.51% -26.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.553M $2.724M
YoY Change 286.62% -60.93%
Accrued Expenses $26.10M $17.50M
YoY Change 16.51% -6.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.69M $20.22M
YoY Change 27.32% -21.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $23.50M $24.32M
YoY Change -11.7% -11.05%
Total Long-Term Liabilities $23.50M $24.32M
YoY Change -11.7% -11.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.69M $20.22M
Total Long-Term Liabilities $23.50M $24.32M
Total Liabilities $53.21M $44.54M
YoY Change 6.55% -15.9%
SHAREHOLDERS EQUITY
Retained Earnings -$565.9M -$505.7M
YoY Change 58.18% 59.84%
Common Stock $6.000K $6.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $152.0M $206.9M
YoY Change
Total Liabilities & Shareholders Equity $205.2M $251.4M
YoY Change -31.51% -26.06%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$60.21M -$64.90M
YoY Change 45.49% 24.09%
Depreciation, Depletion And Amortization $400.0K $400.0K
YoY Change 0.0% -20.0%
Cash From Operating Activities -$50.60M -$55.64M
YoY Change 18.21% 80.02%
INVESTING ACTIVITIES
Capital Expenditures $170.0K $250.0K
YoY Change -119.19% -195.79%
Acquisitions
YoY Change
Other Investing Activities $12.99M $17.48M
YoY Change -75.28% -6.53%
Cash From Investing Activities $12.83M $17.23M
YoY Change -75.16% -6.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 460.0K 24.91M
YoY Change 557.14% 25057.58%
NET CHANGE
Cash From Operating Activities -50.60M -55.64M
Cash From Investing Activities 12.83M 17.23M
Cash From Financing Activities 460.0K 24.91M
Net Change In Cash -37.31M -13.50M
YoY Change -518.13% 9.19%
FREE CASH FLOW
Cash From Operating Activities -$50.60M -$55.64M
Capital Expenditures $170.0K $250.0K
Free Cash Flow -$50.77M -$55.89M
YoY Change 21.11% 82.37%

Facts In Submission

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ProceedsFromIssuanceFollowOnPublicOffering
52370000
dyn Proceeds From Issuance Follow On Public Offering
ProceedsFromIssuanceFollowOnPublicOffering
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1351000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
117000
us-gaap Net Cash Provided By Used In Financing Activities
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53721000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
117000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10000
us-gaap Capital Expenditures Incurred But Not Yet Paid
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230000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-12-01
us-gaap Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
10717818000
us-gaap Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
9112687000
dyn Cash And Cash Equivalents Maturity Period
CashAndCashEquivalentsMaturityPeriod
P90D
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
167608000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
172147000
CY2023Q2 us-gaap Restricted Cash Noncurrent
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2323000
CY2022Q4 us-gaap Restricted Cash Noncurrent
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2319000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169931000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174466000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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40181000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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2000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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58000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Current
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40125000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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84436000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
572000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
83865000
CY2023Q2 dyn Fair Value Assets Transfers Amount
FairValueAssetsTransfersAmount
0
CY2022Q4 dyn Fair Value Assets Transfers Amount
FairValueAssetsTransfersAmount
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9162462
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
664918
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
157949
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.1
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
40125000
CY2023Q2 dyn Available For Sale Debt Securities Maturity After Year One Through Two Years Fair Value
AvailableForSaleDebtSecuritiesMaturityAfterYearOneThroughTwoYearsFairValue
0
CY2023Q2 dyn Available For Sale Debt Securities Maturity After Year Two Years Fair Value
AvailableForSaleDebtSecuritiesMaturityAfterYearTwoYearsFairValue
0
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
40125000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9817000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9574000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4458000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3629000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5359000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5945000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
500000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
900000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3730000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5935000
CY2023Q2 dyn Accrued Consulting Services Current
AccruedConsultingServicesCurrent
723000
CY2022Q4 dyn Accrued Consulting Services Current
AccruedConsultingServicesCurrent
776000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
698000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
410000
CY2023Q2 dyn Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
7633000
CY2022Q4 dyn Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
11097000
CY2023Q2 dyn Accrued Facility Costs Current
AccruedFacilityCostsCurrent
0
CY2022Q4 dyn Accrued Facility Costs Current
AccruedFacilityCostsCurrent
1000
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
12784000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
18219000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.67
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.71
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0342
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0422
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0147
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0355
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9381429
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.59
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
34879000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
603900
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.65
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
26459000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4593693
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
18349000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9162462
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
26459000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.93
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.54
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4749000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3031000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9366000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7519000

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