$DYN
Dyne Therapeutics, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021024523 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.293M $6.510M
YoY Change 102.67%
% of Gross Profit
Research & Development $23.87M $18.63M $6.089M
YoY Change 225.5% 205.88%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $150.0K
YoY Change 0.0% 33.33%
% of Gross Profit
Operating Expenses $30.17M $25.13M $7.853M
YoY Change 247.72% 220.06%
Operating Profit -$30.17M -$25.13M -$7.853M
YoY Change 247.72% 220.06%
Interest Expense $210.0K $170.0K
YoY Change -231.25%
% of Operating Profit
Other Income/Expense, Net $210.0K $166.0K -$33.00K
YoY Change -168.4% -603.03%
Pretax Income -$29.96M -$24.97M
YoY Change 77.58%
Income Tax
% Of Pretax Income
Net Earnings -$29.96M -$24.97M -$7.886M
YoY Change 233.5% 216.61% 277.86%
Net Earnings / Revenue
Basic Earnings Per Share -$0.58
Diluted Earnings Per Share -$0.58 -$504.8K
COMMON SHARES
Basic Shares Outstanding 51.21M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $435.6M $483.1M
YoY Change 3622.98%
Cash & Equivalents $258.4M $310.9M $19.04M
Short-Term Investments $177.2M $172.1M
Other Short-Term Assets $25.71M $4.000M
YoY Change 12754.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $461.3M $487.1M
YoY Change 3776.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.589M $1.777M
YoY Change 72.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.885M $2.300M
YoY Change 1342.5%
Total Long-Term Assets $5.850M $4.642M
YoY Change 244.12%
TOTAL ASSETS
Total Short-Term Assets $461.3M $487.1M
Total Long-Term Assets $5.850M $4.642M
Total Assets $467.1M $491.7M
YoY Change 3334.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.649M $5.760M
YoY Change 156.77%
Accrued Expenses $8.902M $7.700M
YoY Change 368.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.55M $13.50M
YoY Change 254.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.55M $13.50M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $14.55M $13.45M
YoY Change 1.76%
SHAREHOLDERS EQUITY
Retained Earnings -$104.2M
YoY Change
Common Stock $6.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $452.6M $478.3M $8.188M
YoY Change
Total Liabilities & Shareholders Equity $467.1M $491.7M
YoY Change 3334.9%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$29.96M -$24.97M -$7.886M
YoY Change 233.5% 216.61% 277.86%
Depreciation, Depletion And Amortization $200.0K $200.0K $150.0K
YoY Change 0.0% 33.33%
Cash From Operating Activities -$46.15M -$18.39M -$7.288M
YoY Change 216.12% 152.37%
INVESTING ACTIVITIES
Capital Expenditures -$737.0K $9.000K $211.0K
YoY Change 163.21% -95.73%
Acquisitions
YoY Change
Other Investing Activities -$5.692M -$128.4M
YoY Change
Cash From Investing Activities -$6.429M -$128.4M -$211.0K
YoY Change 2196.07% 60741.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.00K 157.3M 11.91M
YoY Change -99.79% 1220.54%
NET CHANGE
Cash From Operating Activities -46.15M -18.39M -7.288M
Cash From Investing Activities -6.429M -128.4M -211.0K
Cash From Financing Activities 25.00K 157.3M 11.91M
Net Change In Cash -52.56M 10.48M 4.409M
YoY Change 1675.57% 137.74%
FREE CASH FLOW
Cash From Operating Activities -$46.15M -$18.39M -$7.288M
Capital Expenditures -$737.0K $9.000K $211.0K
Free Cash Flow -$45.42M -$18.40M -$7.499M
YoY Change 217.15% 145.39%

Facts In Submission

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AccruedResearchAndDevelopmentExpensesCurrent
4782000
CY2020Q4 dyn Accrued Facility Costs Current
AccruedFacilityCostsCurrent
52000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.74
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0113
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0167
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6421589
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
361000
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
11163
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6771426
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
822408
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6771426
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
17.70
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.20
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.55
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.34
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.55
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M18D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y3M18D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
90112000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
59244000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3652000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
66000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7560471
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12481436
CY2021Q1 dyn Lease Executed Date
LeaseExecutedDate
2019-07-01
CY2021Q1 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
P8Y7M
CY2021Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company’s obligation for the payment of base rent for the Premises begins seven 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 term of this lease will commence on the earlier of the date the Company commences its business operations on the Premises or the date the agreed upon improvements to the Premises are substantially completed and necessary occupancy permits are obtained. 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
CY2020Q4 dyn Operating Lease Increase In Monthly Rent Expense
OperatingLeaseIncreaseInMonthlyRentExpense
500000
CY2020Q4 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021Q1 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
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
190000
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
114000
CY2021Q1 us-gaap Lease Cost
LeaseCost
304000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
197000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0325
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
603000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
603000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7000
CY2021Q1 us-gaap Area Of Land
AreaOfLand
68187
CY2021Q1 dyn Lease Commitment Expected Amount
LeaseCommitmentExpectedAmount
40900000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
800000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4603000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4741000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4883000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5029000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
21672000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
41728000

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