Dyne Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $398.3M | $281.4M | $210.8M | $142.8M | $121.3M |
| Operating expenses | $468.2M | $343.9M | $242.2M | $171.0M | $150.0M |
| Operating income | -$468.2M | -$343.9M | -$242.2M | -$171.0M | -$150.0M |
| Income tax expense | $0 | $0 | $0 | — | — |
| Net income | -$446.2M | -$317.4M | -$235.9M | -$168.1M | -$149.3M |
| Balance Sheet | |||||
| Cash and equivalents | $893.4M | $435.4M | $121.6M | $172.1M | $200.8M |
| Current assets | $1.1B | $659.3M | $129.4M | $265.6M | $382.4M |
| Total assets | $1.2B | $691.2M | $165.1M | $306.3M | $425.7M |
| Current liabilities | $50.6M | $42.3M | $51.1M | $28.1M | $28.7M |
| Total liabilities | $214.8M | $61.4M | $73.8M | $54.0M | $57.5M |
| Total debt | $150.0M | — | — | — | — |
| Stockholders' equity | $972.1M | $629.8M | $91.3M | $252.4M | $368.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$403.2M | -$292.4M | -$188.2M | -$153.6M | -$119.6M |
| Depreciation and amortization | $2.0M | $1.7M | $1.7M | $1.7M | $1.1M |
| Stock-based compensation | $45.9M | $45.9M | $20.0M | $15.2M | $17.5M |
| Capital expenditure | $1.9M | $2.4M | $729,000 | $3.1M | $3.6M |
| Free cash flow | -$405.1M | -$294.7M | -$188.9M | -$156.7M | -$123.2M |
| Impairments | — | — | — | — | $0 |
Shares outstanding 113.1M · Free float 91.7%
Annual filing data through FY ended December 31, 2025; float as of July 4, 2026.