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Dyne Therapeutics (DYN) Financials

Dyne Therapeutics logo
$18.21 -0.21 (-1.14%)
Closing price 09/11/2026 04:00 PM Eastern
Extended Trading
$18.06 -0.15 (-0.82%)
As of 09/11/2026 07:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Dyne Therapeutics

Annual Income Statements for Dyne Therapeutics

This table shows Dyne Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -15 -59 -149 -168 -236 -317 -446
Consolidated Net Income / (Loss)		 -15 -59 -149 -168 -236 -317 -446
Net Income / (Loss) Continuing Operations		 -15 -59 -149 -168 -236 -317 -446
Total Pre-Tax Income 		-15 -59 -149 -168 -236 -317 -446
Total Operating Income		 -14 -59 -150 -171 -242 -344 -468
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 14 59 150 171 242 344 468
Selling, General & Admin Expense		 2.79 13 29 28 31 62 70
Research & Development Expense		 11 45 121 143 211 281 398
Total Other Income / (Expense), net		 -1.03 0.11 0.73 2.86 6.23 26 22
Interest Expense		 0.00 0.40 - - 0.00 0.00 6.19
Interest & Investment Income		 0.29 0.06 0.74 2.92 7.64 27 30
Other Income / (Expense), net		 -1.32 0.45 -0.01 -0.05 -1.42 -0.45 -1.70
Basic Earnings per Share		 ($6.08) ($4.13) ($2.93) ($3.23) ($3.95) ($3.37) ($3.47)
Weighted Average Basic Shares Outstanding		 2.44M 14.40M 50.90M 51.98M 59.68M 94.14M 128.44M
Diluted Earnings per Share		 ($6.08) ($4.13) ($2.93) ($3.23) ($3.95) ($3.37) ($3.47)
Weighted Average Diluted Shares Outstanding		 2.44M 14.40M 50.90M 51.98M 59.68M 94.14M 128.44M
Weighted Average Basic & Diluted Shares Outstanding		 2.44M 14.40M 50.90M 51.98M 59.68M 94.14M 128.44M

Quarterly Income Statements for Dyne Therapeutics

This table shows Dyne Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Consolidated Net Income / (Loss)		 -67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Net Income / (Loss) Continuing Operations		 -67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Total Pre-Tax Income 		-67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Total Operating Income		 -68 -69 -72 -106 -97 -122 -116 -114 -116 -125 -182
Total Gross Profit		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 68 69 72 106 97 122 116 114 116 125 182
Selling, General & Admin Expense		 8.84 25 9.70 13 15 16 17 17 21 24 29
Research & Development Expense		 59 45 62 93 82 106 99 97 95 101 152
Total Other Income / (Expense), net		 1.05 3.51 6.86 8.53 7.57 7.01 4.93 5.85 4.17 4.42 3.11
Interest Expense		 - - 0.00 0.00 - 0.00 0.09 2.90 - 4.20 4.60
Interest & Investment Income		 1.75 3.00 7.05 9.28 7.59 7.10 6.63 8.48 7.66 8.76 7.79
Other Income / (Expense), net		 -0.70 0.51 -0.19 -0.74 -0.03 -0.09 -1.60 0.28 -0.29 -0.13 -0.09
Basic Earnings per Share		 ($1.10) ($0.81) ($0.70) ($0.96) ($0.90) ($1.05) ($0.97) ($0.76) ($0.69) ($0.73) ($1.08)
Weighted Average Basic Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M
Diluted Earnings per Share		 ($1.10) ($0.81) ($0.70) ($0.96) ($0.90) ($1.05) ($0.97) ($0.76) ($0.69) ($0.73) ($1.08)
Weighted Average Diluted Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M
Weighted Average Basic & Diluted Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M

Annual Cash Flow Statements for Dyne Therapeutics

This table details how cash moves in and out of Dyne Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 6.51 288 -100 -29 -51 313 458
Net Cash From Operating Activities		 -12 -47 -120 -154 -188 -292 -403
Net Cash From Continuing Operating Activities		 -12 -47 -120 -154 -188 -292 -403
Net Income / (Loss) Continuing Operations		 -15 -59 -149 -168 -236 -317 -446
Consolidated Net Income / (Loss)		 -15 -59 -149 -168 -236 -317 -446
Depreciation Expense		 0.27 0.70 1.09 1.68 1.67 1.67 2.05
Amortization Expense		 0.00 0.08 2.58 1.28 -1.10 -3.60 -1.84
Non-Cash Adjustments To Reconcile Net Income		 1.35 6.14 14 17 21 47 46
Changes in Operating Assets and Liabilities, net		 1.41 5.11 12 -5.38 26 -19 -3.40
Net Cash From Investing Activities		 -1.65 -46 -138 87 83 -204 -29
Net Cash From Continuing Investing Activities		 -1.65 -46 -138 87 83 -204 -29
Purchase of Property, Plant & Equipment		 -1.65 -1.16 -3.62 -3.07 -0.73 -2.38 -21
Purchase of Investments		 0.00 -45 -237 -121 -44 -317 -181
Sale and/or Maturity of Investments		 - 0.00 102 211 128 116 172
Net Cash From Financing Activities		 20 381 158 37 54 810 890
Net Cash From Continuing Financing Activities		 20 381 158 37 54 810 890
Repayment of Debt		 0.00 -10 0.00 - 0.00 0.00 -0.56
Issuance of Debt		 0.00 9.94 0.00 - 0.00 0.00 148
Issuance of Common Equity		 0.00 246 157 37 52 773 735
Other Financing Activities, net		 0.00 -0.42 0.58 0.53 1.95 37 8.00
Cash Interest Paid		 0.00 0.33 0.00 - 0.00 0.00 4.34

Quarterly Cash Flow Statements for Dyne Therapeutics

This table details how cash moves in and out of Dyne Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -8.66 150 336 -76 -97 37 13 89 320 -140 -77
Net Cash From Operating Activities		 -35 -79 -55 -75 -84 -106 -95 -91 -112 -145 -130
Net Cash From Continuing Operating Activities		 -35 -78 -55 -75 -84 -106 -95 -91 -112 -145 -130
Net Income / (Loss) Continuing Operations		 -67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Consolidated Net Income / (Loss)		 -67 -66 -65 -97 -90 -115 -111 -108 -112 -121 -179
Depreciation Expense		 0.40 0.39 0.40 0.44 0.45 0.50 0.50 0.52 0.52 0.55 0.56
Non-Cash Adjustments To Reconcile Net Income		 5.90 20 6.86 8.88 11 13 10 11 11 13 15
Changes in Operating Assets and Liabilities, net		 26 -33 4.24 14 -5.09 -3.60 5.64 5.87 -11 -38 33
Net Cash From Investing Activities		 26 -180 11 -19 -16 1.46 6.77 -38 0.98 -2.39 -4.80
Net Cash From Continuing Investing Activities		 26 -182 11 -19 -16 1.46 6.77 -38 0.98 -2.39 -4.80
Purchase of Property, Plant & Equipment		 -0.08 -0.19 -0.86 -0.25 -1.08 -0.98 -0.06 -19 -0.48 -0.22 -1.51
Purchase of Investments		 - -181 -26 -57 -53 -66 -41 -47 -27 -64 -43
Sale and/or Maturity of Investments		 26 0.00 38 38 38 68 48 28 28 62 40
Net Cash From Financing Activities		 0.15 408 380 18 3.64 141 101 217 431 7.06 58
Net Cash From Continuing Financing Activities		 0.15 408 380 18 3.64 141 101 217 431 7.06 58
Issuance of Debt		 - 324 - - - 0.00 - - 49 0.00 49
Other Financing Activities, net		 0.15 11 4.28 18 3.64 0.59 1.97 2.07 3.37 7.52 8.66
Cash Interest Paid		 - - - - - 0.00 - - 2.52 3.63 7.83

Annual Balance Sheets for Dyne Therapeutics

This table presents Dyne Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 16 353 426 306 165 691 1,187
Total Current Assets		 15 349 382 266 129 659 1,127
Cash & Equivalents		 15 301 201 172 122 435 893
Short-Term Investments		 0.00 44 176 84 1.47 207 217
Prepaid Expenses		 0.13 3.77 5.82 9.58 6.28 17 16
Plant, Property, & Equipment, net		 1.49 1.95 4.68 5.95 4.78 5.40 24
Total Noncurrent Assets		 0.19 2.30 39 35 31 27 36
Other Noncurrent Operating Assets		 0.19 2.30 39 35 31 27 36
Total Liabilities & Shareholders' Equity		 16 353 426 306 165 691 1,187
Total Liabilities		 2.40 11 57 54 74 61 215
Total Current Liabilities		 2.36 11 29 28 51 42 51
Accounts Payable		 1.26 3.44 4.03 5.26 23 6.56 8.08
Accrued Expenses		 1.10 7.53 21 18 23 31 38
Other Current Liabilities		 - 0.00 3.89 4.61 4.72 4.85 5.00
Total Noncurrent Liabilities		 0.04 0.00 29 26 23 19 164
Long-Term Debt		 - - - - - 0.00 149
Capital Lease Obligations		 - - - - - - 15
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 14 342 368 252 91 630 972
Total Preferred & Common Equity		 14 342 368 252 91 630 972
Preferred Stock		 27 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -13 342 368 252 91 630 972
Common Stock		 6.35 422 597 650 724 1,580 2,368
Retained Earnings		 -20 -79 -228 -397 -633 -950 -1,396
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.03 -0.27 -0.57 0.00 0.01 0.48

Quarterly Balance Sheets for Dyne Therapeutics

This table presents Dyne Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 289 251 205 522 826 769 721 729 867 1,080 994
Total Current Assets		 249 213 168 488 792 736 690 698 806 1,021 938
Cash & Equivalents		 181 168 130 272 608 532 472 485 574 753 676
Short-Term Investments		 57 40 28 182 171 192 205 199 218 219 222
Prepaid Expenses		 11 5.44 10 35 13 13 12 14 14 49 39
Plant, Property, & Equipment, net		 5.57 5.36 5.11 4.58 5.02 4.90 5.75 5.68 24 24 25
Total Noncurrent Assets		 34 33 32 30 29 28 26 23 37 35 32
Other Noncurrent Operating Assets		 34 33 32 30 29 28 26 23 37 35 32
Total Liabilities & Shareholders' Equity		 289 251 205 522 826 769 721 729 867 1,080 994
Total Liabilities		 47 45 53 44 51 63 52 158 175 215 292
Total Current Liabilities		 22 20 30 22 30 43 34 41 60 51 78
Accounts Payable		 8.77 2.72 3.55 7.21 1.89 6.16 7.02 14 12 11 12
Accrued Expenses		 8.17 13 21 10 23 32 22 22 43 29 46
Other Current Liabilities		 4.64 4.71 4.71 4.76 4.78 4.81 5.11 5.00 5.04 11 20
Total Noncurrent Liabilities		 25 24 24 22 21 20 18 116 115 164 214
Long-Term Debt		 - - - - - - - 99 99 149 199
Capital Lease Obligations		 - 24 24 - 21 - 18 - 16 14 15
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 242 207 152 478 775 706 669 571 692 865 702
Total Preferred & Common Equity		 242 207 152 478 775 706 669 571 692 865 702
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 242 207 152 478 775 706 669 571 692 865 702
Common Stock		 683 713 718 1,176 1,539 1,565 1,734 1,747 1,975 2,382 2,398
Retained Earnings		 -441 -506 -566 -698 -763 -860 -1,065 -1,176 -1,284 -1,517 -1,696
Accumulated Other Comprehensive Income / (Loss)		 -0.20 -0.06 -0.01 -0.13 -0.24 0.48 0.24 0.25 0.50 -0.14 -0.35

Annual Metrics And Ratios for Dyne Therapeutics

This table displays calculated financial ratios and metrics derived from Dyne Therapeutics' official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - 142,824,687.00
DEI Adjusted Shares Outstanding		 - - - - - - 142,824,687.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -3.12
Growth Metrics		 - - - - - - -
Profitability Metrics		 - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -9.68 -41 -105 -120 -170 -241 -328
Return On Investment Capital (ROIC_SIMPLE)		 - - - -47.42% -185.68% -38.22% -29.23%
Earnings before Interest and Taxes (EBIT)		 -15 -58 -150 -171 -244 -344 -470
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -57 -146 -168 -243 -346 -470
Valuation Ratios		 - - - - - - -
Leverage & Solvency		 - - - - - - -
Liquidity Ratios		 - - - - - - -
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -39 -100 -124 -141 -260 -351
Efficiency Ratios		 - - - - - - -
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 -0.60 -2.95 -8.37 -3.65 -32 -12 10
Increase / (Decrease) in Invested Capital		 0.00 -2.35 -5.43 4.73 -28 19 23
Book Value per Share		 ($5.48) $7.53 $7.15 $4.86 $1.49 $6.19 $6.81
Tangible Book Value per Share		 ($5.48) $7.53 $7.15 $4.86 $1.49 $6.19 $6.81
Total Capital		 14 342 368 252 91 630 1,121
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 149
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 149
Net Debt		 -15 -345 -377 -256 -123 -642 -962
Capital Expenditures (CapEx)		 1.65 1.16 3.62 3.07 0.73 2.38 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.23 -7.19 -23 -19 -45 -25 -35
Debt-free Net Working Capital (DFNWC)		 12 338 354 238 78 617 1,076
Net Working Capital (NWC)		 12 338 354 238 78 617 1,076
Net Nonoperating Expense (NNE)		 5.18 18 44 48 66 77 118
Net Nonoperating Obligations (NNO)		 -15 -345 -377 -256 -123 -642 -962
Total Depreciation and Amortization (D&A)		 0.27 0.78 3.67 2.96 0.57 -1.93 0.21
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($4.13) ($2.93) ($3.23) ($3.95) ($3.37) ($3.47)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 51.46M 51.64M 56.34M 59.68M 94.14M 128.44M
Adjusted Diluted Earnings per Share		 $0.00 ($4.13) ($2.93) ($3.23) ($3.95) ($3.37) ($3.47)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 51.46M 51.64M 51.98M 59.68M 94.14M 128.44M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($4.13) ($2.93) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 14.40M 50.90M 51.98M 59.68M 94.14M 128.44M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.68 -41 -105 -120 -170 -241 -328
Debt Service Ratios		 - - - - - - -
Payout Ratios		 - - - - - - -

Quarterly Metrics And Ratios for Dyne Therapeutics

This table displays calculated financial ratios and metrics derived from Dyne Therapeutics' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 142,824,687.00 142,824,687.00 142,824,687.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 142,824,687.00 142,824,687.00 142,824,687.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -0.78 -0.85 -1.25
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
EBITDA Growth		 -70.59% -50.20% -8.93% -71.56% -43.02% -79.56% -63.54% -6.19% - -1.86% -54.40%
EBIT Growth		 -69.28% -50.29% -7.52% -70.52% -42.03% -78.38% -62.69% -6.87% - -2.41% -54.83%
NOPAT Growth		 -68.61% -52.11% -7.83% -69.67% -43.46% -76.95% -60.91% -7.88% - -2.37% -56.89%
Net Income Growth		 -71.63% -48.57% -0.31% -61.31% -34.37% -75.72% -70.28% -11.24% - -4.76% -61.07%
EPS Growth		 -50.68% -3.85% 35.19% 3.03% 18.18% -29.63% -38.57% 20.83% - 30.48% -11.34%
Operating Cash Flow Growth		 -19.92% -67.43% 1.39% -47.48% -140.92% -34.83% -72.60% -21.64% - -36.86% -37.57%
Free Cash Flow Firm Growth		 41.44% -211.13% 41.04% 37.87% -354.44% -2.40% -7.66% -197.57% - -89.89% -238.01%
Invested Capital Growth		 -771.93% 558.11% -26.31% -202.28% 60.92% -60.42% -193.54% 184.50% - 482.94% 208.25%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
EBITDA Q/Q Growth		 -9.39% -0.12% -6.16% -46.44% 8.81% -25.69% 4.26% 3.31% - -7.37% -45.11%
EBIT Q/Q Growth		 -9.60% -0.38% -5.10% -47.46% 8.71% -26.07% 4.14% 3.22% - -7.72% -44.93%
NOPAT Q/Q Growth		 -8.70% -2.17% -4.06% -46.83% 8.09% -26.02% 5.38% 1.64% - -7.88% -45.01%
Net Income Q/Q Growth		 -10.68% 1.48% 0.83% -49.19% 7.81% -28.83% 3.90% 2.54% - -7.95% -47.75%
EPS Q/Q Growth		 -11.11% 26.36% 13.58% -37.14% 6.25% -16.67% 7.62% 21.65% - -5.80% -47.95%
Operating Cash Flow Q/Q Growth		 30.82% -124.35% 30.14% -36.02% -13.01% -25.56% 10.57% 4.14% - -29.59% 10.10%
Free Cash Flow Firm Q/Q Growth		 68.65% -259.97% 36.12% 13.80% -129.28% 18.89% 32.84% -137.85% - -12.59% -19.55%
Invested Capital Q/Q Growth		 -279.41% 177.05% -29.44% -204.86% 31.45% 178.04% -266.75% 194.73% - 119.41% -69.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Interest Burden Percent		 97.44% 95.63% 90.23% 91.28% 92.18% 94.20% 94.44% 95.10% - 96.37% 98.24%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Equity (ROE)		 -137.31% -71.50% -52.46% -68.69% -88.03% -64.01% -61.32% -60.66% - -58.89% -81.57%
Cash Return on Invested Capital (CROIC)		 0.00% -1,465.59% -900.80% 0.00% 0.00% -1,538.60% 0.00% -2,270.67% - -1,137.01% -2,339.11%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Common Equity (ROCE)		 -137.31% -71.50% -52.46% -68.69% -88.03% -64.01% -61.32% -60.66% - -58.89% -81.57%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -53.84% -33.23% -41.74% 0.00% -54.88% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -47 -48 -50 -74 -68 -86 -81 -80 -81 -88 -127
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -10.16% -4.98% -3.13% -5.40% -5.64% -5.34% -4.43% -4.04% - -4.52% -8.08%
Return On Investment Capital (ROIC_SIMPLE)		 -51.90% -10.13% - - -10.79% -12.47% -12.09% -9.88% -7.25% -8.52% -13.88%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -68 -69 -72 -106 -97 -122 -117 -114 -116 -125 -182
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -68 -68 -73 -107 -98 -123 -117 -113 -116 -125 -181
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 8.94 4.87 3.98 5.11 3.81 1.77 1.89 2.60 - 2.99 5.23
Price to Tangible Book Value (P/TBV)		 8.94 4.87 3.98 5.11 3.81 1.77 1.89 2.60 - 2.99 5.23
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 76.43 134.50 0.00 0.00 54.02 0.00 73.30 - 31.50 170.77
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.03 0.00 0.00 0.03 0.17 0.17 - 0.19 0.30
Long-Term Debt to Equity		 0.00 0.00 0.03 0.00 0.00 0.03 0.17 0.17 - 0.19 0.30
Financial Leverage		 -1.10 -0.96 -0.96 -1.00 -1.06 -0.97 -1.00 -1.00 - -0.96 -1.00
Leverage Ratio		 1.37 1.13 1.10 1.14 1.19 1.08 1.15 1.17 - 1.17 1.35
Compound Leverage Factor		 1.34 1.08 0.99 1.04 1.09 1.02 1.09 1.11 - 1.13 1.33
Debt to Total Capital		 0.00% 0.00% 2.63% 0.00% 0.00% 2.65% 14.74% 14.30% - 15.91% 23.34%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 2.63% 0.00% 0.00% 2.65% 14.74% 14.30% - 15.91% 23.34%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 97.37% 100.00% 100.00% 97.35% 85.26% 85.70% - 84.09% 76.66%
Debt to EBITDA		 0.00 0.00 -0.08 0.00 0.00 -0.05 -0.22 -0.26 - -0.35 -0.40
Net Debt to EBITDA		 0.00 0.00 2.78 0.00 0.00 1.66 1.32 1.50 - 1.72 1.28
Long-Term Debt to EBITDA		 0.00 0.00 -0.08 0.00 0.00 -0.05 -0.22 -0.26 - -0.35 -0.40
Debt to NOPAT		 0.00 0.00 -0.11 0.00 0.00 -0.07 -0.32 -0.37 - -0.50 -0.57
Net Debt to NOPAT		 0.00 0.00 3.99 0.00 0.00 2.37 1.90 2.15 - 2.45 1.82
Long-Term Debt to NOPAT		 0.00 0.00 -0.11 0.00 0.00 -0.07 -0.32 -0.37 - -0.50 -0.57
Altman Z-Score		 0.48 30.33 36.03 33.24 22.11 12.09 2.41 4.69 - 5.96 5.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.53 21.83 26.63 17.02 15.60 20.35 16.83 13.47 - 19.92 12.02
Quick Ratio		 2.41 20.28 26.18 16.73 15.20 20.00 16.49 13.23 - 18.97 11.51
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -19 -69 -44 -38 -87 -71 -48 -113 -104 -135 -161
Operating Cash Flow to CapEx		 -42,690.24% -41,118.85% -6,402.33% -29,497.63% -7,845.12% -10,794.39% -157,838.33% -473.18% - -65,575.57% -8,605.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -506.23 -38.97 - -32.02 -35.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,007.48 -31.26 - -34.49 -28.35
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,008.12 -37.87 - -34.54 -28.68
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -32 25 17 -18 -12 9.70 -16 15 10 57 18
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Increase / (Decrease) in Invested Capital		 -28 21 -6.17 -36 19 -15 -33 33 23 47 34
Enterprise Value (EV)		 693 1,873 2,326 2,883 1,755 524 497 1,123 - 1,781 2,990
Market Capitalization		 816 2,327 3,084 3,606 2,398 1,183 1,082 1,800 - 2,589 3,675
Book Value per Share		 $1.49 $5.83 $8.87 $7.03 $6.19 $5.91 $5.03 $4.86 $6.81 $5.24 $4.24
Tangible Book Value per Share		 $1.49 $5.83 $8.87 $7.03 $6.19 $5.91 $5.03 $4.86 $6.81 $5.24 $4.24
Total Capital		 91 478 796 706 630 687 670 807 1,121 1,029 916
Total Debt		 0.00 0.00 21 0.00 0.00 18 99 115 149 164 214
Total Long-Term Debt		 0.00 0.00 21 0.00 0.00 18 99 115 149 164 214
Net Debt		 -123 -454 -758 -724 -642 -659 -585 -676 -962 -809 -685
Capital Expenditures (CapEx)		 0.08 0.19 0.86 0.25 1.08 0.98 0.06 19 0.48 0.22 1.51
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -45 12 -16 -31 -25 -22 -27 -45 -35 -2.38 -39
Debt-free Net Working Capital (DFNWC)		 78 466 763 693 617 656 656 746 1,076 970 860
Net Working Capital (NWC)		 78 466 763 693 617 656 656 746 1,076 970 860
Net Nonoperating Expense (NNE)		 19 17 15 23 22 30 30 28 31 33 51
Net Nonoperating Obligations (NNO)		 -123 -454 -758 -724 -642 -659 -588 -676 -962 -809 -685
Total Depreciation and Amortization (D&A)		 0.21 0.39 -0.87 -0.54 -0.39 -0.11 0.04 0.16 0.13 0.55 0.56
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.10) ($0.81) ($0.70) ($0.96) ($0.90) ($1.05) ($0.97) ($0.76) ($0.69) ($0.73) ($1.08)
Adjusted Weighted Average Basic Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M
Adjusted Diluted Earnings per Share		 ($1.10) ($0.81) ($0.70) ($0.96) ($0.90) ($1.05) ($0.97) ($0.76) ($0.69) ($0.73) ($1.08)
Adjusted Weighted Average Diluted Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 59.68M 81.04M 92.51M 100.88M 94.14M 109.91M 113.87M 141.81M 128.44M 165.04M 165.45M
Normalized Net Operating Profit after Tax (NOPAT)		 -47 -48 -50 -74 -68 -86 -81 -80 -81 -88 -127
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,248.81 -39.12 - -29.85 -39.55
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -862.27 -27.45 - -20.87 -27.67
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,249.45 -45.73 - -29.90 -39.88
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -862.91 -34.06 - -20.92 -28.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Dyne Therapeutics remains a development-stage biotechnology company with no reported revenue in the periods provided. Its financial profile is therefore driven by research spending, clinical-development progress, financing activity and the size of its cash reserve rather than sales or operating profits.

  • Strong liquidity position: As of Q2 2026, Dyne held $676.1 million in cash and equivalents plus $222.4 million in short-term investments, or approximately $898.5 million in highly liquid resources. This provides a meaningful financial cushion for ongoing development activities.
  • Substantial equity cushion: Total equity was $702.2 million at the end of Q2 2026, compared with total liabilities of $291.9 million. Although liabilities have increased, the balance sheet remains equity-funded overall.
  • Current assets comfortably exceed current liabilities: Current assets of $937.9 million were roughly 12 times current liabilities of $78.0 million in Q2 2026. This indicates limited near-term liquidity pressure despite the company’s continuing cash burn.
  • Investment income continues to offset part of the operating deficit: Interest and investment income was $7.8 million in Q2 2026. This income stream has generally grown from $1.3 million in Q1 2023 and helps reduce, but does not eliminate, operating losses.

The primary trend is rapid expansion of spending. Quarterly research and development expense increased from $46.7 million in Q2 2022 to $152.2 million in Q2 2026, while selling, general and administrative expense rose from $6.1 million to $29.5 million. Total operating expenses reached $181.7 million in Q2 2026, up from $115.8 million in the restated Q2 2025 results and $125.3 million in Q1 2026.

  • Cash burn remains high but provides a rough runway: Net cash used in operating activities was $130.3 million in Q2 2026, compared with $144.9 million in Q1 2026 and $94.7 million in Q2 2025. Based solely on the Q2 cash-and-investment balance and the latest quarterly operating burn, Dyne has several quarters of liquidity, although the runway will vary with clinical spending, financing and investment activity.
  • Losses are widening: Q2 2026 net loss was $178.6 million, compared with $120.9 million in Q1 2026, $110.9 million in restated Q2 2025 and $65.1 million in restated Q2 2024. The loss per share was negative $1.08 in Q2 2026, versus negative $0.97 in Q2 2025 and negative $0.70 in Q2 2024.
  • The company has not yet generated operating revenue: Reported revenue was zero in each income statement period supplied. With no product revenue to fund operations, Dyne remains dependent on its cash reserves, investment income and external financing.
  • Operating cash flow is consistently negative: Dyne has used cash in operations in every cash-flow period provided. Quarterly operating cash outflow increased from $29.2 million in Q4 2022 to more than $130 million in Q2 2026, reflecting the expanding cost of its research and development programs.
  • Financing dependence and dilution are significant: The company has repeatedly raised capital through equity offerings, including $375.6 million in Q2 2024, $215.8 million in Q3 2025 and $378.2 million in Q4 2025. Weighted-average shares increased from 51.7 million in Q2 2022 to 165.5 million in Q2 2026, creating substantial dilution for existing shareholders.
  • Debt has risen materially: Long-term debt increased from zero reported at the end of Q2 2024 to $199.3 million in Q2 2026, with an additional $14.5 million in capital lease obligations. Q2 2026 financing provided $49.5 million from debt issuance, but interest expense also rose to $4.6 million, adding to the company’s future obligations.

Overall, Dyne’s balance sheet remains well capitalized for a clinical-stage biotechnology company, but its investment case is increasingly dependent on successful development milestones and future financing access. Liquidity is a current strength, while escalating research spending, widening losses, zero revenue and substantial historical dilution remain the most important risks for investors.

09/12/26 01:55 PM ETAI Generated. May Contain Errors.

Dyne Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Dyne Therapeutics' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Dyne Therapeutics' net income appears to be on an upward trend, with a most recent value of -$446.21 million in 2025, rising from -$14.86 million in 2019. The previous period was -$317.42 million in 2024. View Dyne Therapeutics' forecast to see where analysts expect Dyne Therapeutics to go next.

Dyne Therapeutics' total operating income in 2025 was -$468.18 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $468.18 million

Over the last 6 years, Dyne Therapeutics' total revenue changed from $0.00 in 2019 to $0.00 in 2025, a change of 0.0%.

Dyne Therapeutics' total liabilities were at $214.83 million at the end of 2025, a 249.9% increase from 2024, and a 8,851.2% increase since 2019.

In the past 6 years, Dyne Therapeutics' cash and equivalents has ranged from $14.63 million in 2019 to $893.37 million in 2025, and is currently $893.37 million as of their latest financial filing in 2025.

Over the last 6 years, Dyne Therapeutics' book value per share changed from -5.48 in 2019 to 6.81 in 2025, a change of -224.1%.


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Financial statements for NASDAQ:DYN last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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