$DYN
Dyne Therapeutics, Inc.

2019 Q4 Form 10-K Financial Statement

#000156459021010726 Filed on March 04, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2019 2018 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.786M $2.790M
YoY Change 436.54%
% of Gross Profit
Research & Development $11.04M $11.04M
YoY Change 157.94%
% of Gross Profit
Depreciation & Amortization $250.0K $271.0K
YoY Change 1255.0%
% of Gross Profit
Operating Expenses $13.83M $13.83M
YoY Change 188.04%
Operating Profit -$13.83M
YoY Change
Interest Expense $290.0K $290.0K
YoY Change 2800.0%
% of Operating Profit
Other Income/Expense, Net -$1.323M -$1.033M
YoY Change 5065.0%
Pretax Income -$14.86M -$14.86M
YoY Change 208.94%
Income Tax
% Of Pretax Income
Net Earnings -$14.86M -$14.86M
YoY Change 208.92%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$340.9K -$340.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.63M $14.60M
YoY Change 80.25%
Cash & Equivalents $14.63M $14.60M $8.124M
Short-Term Investments $0.00
Other Short-Term Assets $100.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.76M $14.80M
YoY Change 80.49%
LONG-TERM ASSETS
Property, Plant & Equipment $1.486M $1.500M
YoY Change 1400.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.0K $200.0K
YoY Change
Total Long-Term Assets $1.677M $1.600M
YoY Change 1500.0%
TOTAL ASSETS
Total Short-Term Assets $14.76M $14.80M
Total Long-Term Assets $1.677M $1.600M
Total Assets $16.44M $16.40M
YoY Change 97.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.256M $1.300M
YoY Change 160.0%
Accrued Expenses $1.100M
YoY Change 450.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.358M $2.400M
YoY Change 242.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.358M $2.400M
Total Long-Term Liabilities $0.00
Total Liabilities $2.400M $2.400M
YoY Change -41.46%
SHAREHOLDERS EQUITY
Retained Earnings -$19.75M
YoY Change
Common Stock $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.04M $14.00M -$4.879M
YoY Change
Total Liabilities & Shareholders Equity $16.44M $16.40M
YoY Change 97.59%

Cashflow Statement

Concept 2019 Q4 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$14.86M -$14.86M
YoY Change 208.92%
Depreciation, Depletion And Amortization $250.0K $271.0K
YoY Change 1255.0%
Cash From Operating Activities -$6.990M -$11.83M
YoY Change 184.47%
INVESTING ACTIVITIES
Capital Expenditures -$1.470M $1.647M
YoY Change -1366.92%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.470M -$1.647M
YoY Change 1166.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 19.99M
YoY Change 60.94%
NET CHANGE
Cash From Operating Activities -6.990M -11.83M
Cash From Investing Activities -1.470M -1.647M
Cash From Financing Activities 0.000 19.99M
Net Change In Cash -8.460M 6.508M
YoY Change -19.95%
FREE CASH FLOW
Cash From Operating Activities -$6.990M -$11.83M
Capital Expenditures -$1.470M $1.647M
Free Cash Flow -$5.520M -$13.48M
YoY Change 234.52%

Facts In Submission

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y6M
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
30000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
90112000
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7282000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
90112000
CY2020Q4 dyn Available For Sale Debt Securities Maturity After Year One Through Two Years Fair Value
AvailableForSaleDebtSecuritiesMaturityAfterYearOneThroughTwoYearsFairValue
24147000
CY2020 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
CY2020Q3 dyn Fair Value Liability Payment Percentage
FairValueLiabilityPaymentPercentage
1.00
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
500000
CY2020Q3 dyn Success Fee Paid
SuccessFeePaid
500000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2941000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1781000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
995000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
295000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2105000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
540000
CY2020Q4 dyn Accrued Consulting Services Current
AccruedConsultingServicesCurrent
263000
CY2019Q4 dyn Accrued Consulting Services Current
AccruedConsultingServicesCurrent
60000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21899000
CY2020Q4 dyn Operating Lease Increase In Monthly Rent Expense
OperatingLeaseIncreaseInMonthlyRentExpense
500000
CY2020Q4 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.62
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6591000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.06
CY2019 dyn Effective Income Tax Rate Reconciliation Change In Fair Value Of Preferred Stock Tranche Obligations
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfPreferredStockTrancheObligations
-0.02
CY2019 dyn Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.01
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.01
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.04
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.27
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.28
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1349000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
18858000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4848000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
1155000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
612000
CY2019Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
12000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
580000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
161000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
21942000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5634000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5607000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
43000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
27000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
43000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
27000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
43000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
27000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
16300000
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4200000
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020 us-gaap Open Tax Year
OpenTaxYear
2018
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7195273
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10762083
CY2020 dyn Lease Executed Date
LeaseExecutedDate
2019-07-01
CY2020 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-12-31
CY2020Q4 dyn Facility Additional Area Leased
FacilityAdditionalAreaLeased
68187
CY2020Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P8Y6M
CY2020 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company’s obligation for the payment of base rent for the Premises begins six months after the commencement date and will be $0.4 million per month, increasing up to $0.5 million during the term of the Lease. The Company has two options to extend the term of the Lease, each for a period of an additional five years. The Company expects the Premises to be ready for occupancy in the second half of 2021.
CY2020Q4 dyn Operating Lease Monthly Rent Expense
OperatingLeaseMonthlyRentExpense
400000
CY2020 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The Company has two options to extend the term of the Lease, each for a period of an additional five years.
CY2020Q4 dyn Operating Lease Period Of Extension
OperatingLeasePeriodOfExtension
P5Y
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
800000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4603000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4741000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4883000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5029000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21672000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
41728000
CY2020 dyn Collaborative Agreement Upfront Payments
CollaborativeAgreementUpfrontPayments
100000
CY2020Q4 dyn Contractual Agreements Milestone Payment
ContractualAgreementsMilestonePayment
400000
CY2020Q4 dyn Contractual Agreements Possible Second Milestone Payment
ContractualAgreementsPossibleSecondMilestonePayment
200000
CY2020Q4 dyn Accrued Milestone Payment Obligation
AccruedMilestonePaymentObligation
0
CY2020Q4 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
0

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