$DYN
Dyne Therapeutics Inc

2021 Q2 Form 10-Q Financial Statement

#000156459021041177 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.293M $3.105M
YoY Change 102.67%
% of Gross Profit
Research & Development $23.87M $7.334M
YoY Change 225.5%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% 900.0%
% of Gross Profit
Operating Expenses $30.17M $8.675M
YoY Change 247.72%
Operating Profit -$30.17M -$8.675M
YoY Change 247.72%
Interest Expense $210.0K -$160.0K
YoY Change -231.25%
% of Operating Profit
Other Income/Expense, Net $210.0K -$307.0K
YoY Change -168.4%
Pretax Income -$29.96M -$16.87M
YoY Change 77.58%
Income Tax
% Of Pretax Income
Net Earnings -$29.96M -$8.982M
YoY Change 233.5% 500.0%
Net Earnings / Revenue
Basic Earnings Per Share -$0.58
Diluted Earnings Per Share -$0.58 -$387.0K
COMMON SHARES
Basic Shares Outstanding 51.21M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $435.6M $11.70M
YoY Change 3622.98%
Cash & Equivalents $258.4M $11.67M
Short-Term Investments $177.2M
Other Short-Term Assets $25.71M $200.0K
YoY Change 12754.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $461.3M $11.90M
YoY Change 3776.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.589M $1.500M
YoY Change 72.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.885M $200.0K
YoY Change 1342.5%
Total Long-Term Assets $5.850M $1.700M
YoY Change 244.12%
TOTAL ASSETS
Total Short-Term Assets $461.3M $11.90M
Total Long-Term Assets $5.850M $1.700M
Total Assets $467.1M $13.60M
YoY Change 3334.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.649M $2.200M
YoY Change 156.77%
Accrued Expenses $8.902M $1.900M
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 $4.100M
YoY Change 254.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $9.900M
YoY Change -100.0%
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $0.00 $10.10M
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.55M $4.100M
Total Long-Term Liabilities $0.00 $10.10M
Total Liabilities $14.55M $14.30M
YoY Change 1.76%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $452.6M -$719.0K
YoY Change
Total Liabilities & Shareholders Equity $467.1M $13.60M
YoY Change 3334.9%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$29.96M -$8.982M
YoY Change 233.5% 500.0%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% 900.0%
Cash From Operating Activities -$46.15M -$14.60M
YoY Change 216.12% 201.65%
INVESTING ACTIVITIES
Capital Expenditures -$737.0K -$280.0K
YoY Change 163.21% 55.56%
Acquisitions
YoY Change
Other Investing Activities -$5.692M $0.00
YoY Change
Cash From Investing Activities -$6.429M -$280.0K
YoY Change 2196.07% 55.56%
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 11.92M
YoY Change -99.79% -40.37%
NET CHANGE
Cash From Operating Activities -46.15M -14.60M
Cash From Investing Activities -6.429M -280.0K
Cash From Financing Activities 25.00K 11.92M
Net Change In Cash -52.56M -2.960M
YoY Change 1675.57% -119.77%
FREE CASH FLOW
Cash From Operating Activities -$46.15M -$14.60M
Capital Expenditures -$737.0K -$280.0K
Free Cash Flow -$45.42M -$14.32M
YoY Change 217.15% 207.3%

Facts In Submission

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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21251
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10664
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7160650
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.20
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
94783000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1186660
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.59
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
18804000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6767389
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.17
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
87112000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.71
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4239000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7891000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
141000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-29955000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-8982000
us-gaap Net Income Loss
NetIncomeLoss
-54923000
us-gaap Net Income Loss
NetIncomeLoss
-16868000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51216254
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2710556
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
50349193
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2675260
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.58
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.31
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.31
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7918682
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12669529
dyn Lease Executed Date
LeaseExecutedDate
2019-07-01
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
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company’s obligation for the payment of base rent for the Premises begins five 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
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
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
189000
us-gaap Operating Lease Cost
OperatingLeaseCost
379000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
131000
us-gaap Variable Lease Cost
VariableLeaseCost
246000
CY2021Q2 us-gaap Lease Cost
LeaseCost
320000
us-gaap Lease Cost
LeaseCost
625000
us-gaap Operating Lease Payments
OperatingLeasePayments
394000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0325
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
406000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
406000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
403000
CY2021Q2 us-gaap Area Of Land
AreaOfLand
68187
CY2021Q2 dyn Lease Commitment Expected Amount
LeaseCommitmentExpectedAmount
41300000
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
4096000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4729000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4871000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5017000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
22563000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
42076000

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