Dyne Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 07:26 am EDT
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Dyne Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 64.9 million compared to USD 52.3 million a year ago. Basic loss per share from continuing operations was USD 1.08 compared to USD 1.01 a year ago.
For the six months, net loss was USD 109.09 million compared to USD 87.89 million a year ago. Basic loss per share from continuing operations was USD 1.88 compared to USD 1.7 a year ago.
Dyne Therapeutics Inc. is a clinical-stage muscle disease company. It is focused on advancing life-transforming therapeutics for people living with genetically driven diseases. It is utilizing its FORCE platform to overcome the limitations of muscle tissue delivery and oligonucleotide therapeutics for muscle diseases. Its FORCE platform therapeutics consist of an oligonucleotide payload that is designed to target the genetic basis of the disease. Using its FORCE platform, it is assembling a portfolio of muscle disease therapeutics, including its lead programs in myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral dystrophy (FSHD). Its therapeutics consist of three components: a Fab, a clinically validated linker, and an oligonucleotide payload that it attaches to its Fab using the linker. It also plans to expand its portfolio through development efforts focused on rare skeletal muscle diseases, as well as cardiac and metabolic muscle diseases.