Workflow
Dyne Therapeutics Reports Second Quarter 2024 Financial Results and Recent Business Highlights
Dyne TherapeuticsDyne Therapeutics(US:DYN) GlobeNewswire News Room·2024-08-12 21:10

Core Insights - Dyne Therapeutics reported significant clinical data from the ACHIEVE trial for DYNE-101 in myotonic dystrophy type 1 (DM1) and the DELIVER trial for DYNE-251 in Duchenne muscular dystrophy (DMD), indicating strong potential for both therapies [2][3][4] - The company successfully completed a public offering, raising approximately $374 million, which extends its cash runway into at least the second half of 2026 [1][8] Clinical Trials and Data - The ACHIEVE trial for DYNE-101 showed robust muscle delivery and dose-dependent splicing correction, with improvements in myotonia, muscle strength, and functional tests based on data from 40 adult DM1 patients [3] - The DELIVER trial for DYNE-251 demonstrated dose-dependent exon skipping and dystrophin expression, with levels exceeding those of the current standard of care, using a 12-fold lower dose [4][5] - Both trials are designed to be registrational, and the company is pursuing expedited approval pathways, with updates expected by the end of 2024 [6] Financial Performance - As of June 30, 2024, the company reported cash, cash equivalents, and marketable securities totaling $778.8 million, which is expected to fund operations through at least the second half of 2026 [9] - Research and development expenses for Q2 2024 were $62.3 million, compared to $59.1 million in Q2 2023, while general and administrative expenses increased to $9.7 million from $7.6 million [10] - The net loss for Q2 2024 was $65.1 million, or $0.70 per share, slightly higher than the net loss of $64.9 million, or $1.08 per share, in the same quarter of the previous year [10][13] Pipeline and Future Prospects - Dyne's FORCE™ platform demonstrated potential in delivering enzyme replacement therapy in preclinical models for Pompe disease and showed robust DUX4 suppression in facioscapulohumeral muscular dystrophy (FSHD) [7] - The company plans to present data from its clinical trials at the 2024 World Muscle Society Annual Congress in October [7]