Dyne Therapeutics Inc. (DYN) shares surged 8.97% in the after-hours on Friday and closed the weekly trading at $15.55. In the regular trading session of Friday, DYN’s stock gained 0.42% as well. DYN shares have fallen 28.44% over the last 12 months, and they have moved down 4.99% in the past week. Over the past three months, the stock has lost 13.83%, while over the past six months, it has shed 20.63%.
Let’s see what is the latest news about the company?
DYN latest announcement
On November 04, 2021, Dyne Therapeutics, Inc. (DYN) reported financial results for the third quarter of 2021.
Q3 2021 financial highlights
- DYN reported no revenue in Q3 2021.
- Research and development expenses were $36.5 million in Q3 2021 compared to $9.7 million in the third quarter of 2020.
- General and administrative expenses were $6.3 million during the third quarter of 2021, compared to $3.8 million for the third quarter of 2020.
- It suffered a net loss of $42.6 million or $0.83 per share of common stock for the third quarter of 2021 compared to $13.9 million, or $2.01 per share of common stock for the third quarter of 2020.
- Dyne ended the quarter with $407.5 million of cash, cash equivalents, and marketable securities, which are anticipated to fund operations into the second half of 2024.
DYN hosted the first R&D Day
On October 13, 2021, Dyne Therapeutics, Inc. (DYN), hosted its first Research and Development Day highlighting Company’s co-lead development programs for rare muscle diseases, Duchenne muscular dystrophy (DMD), and myotonic dystrophy type 1 (DM1).
DYN participation at 2021 Muscle Study Group Annual Scientific Meeting
Dyne Therapeutics, Inc. (DYN), presented new data during the 2021 Muscle Study Group Annual Scientific Meeting for its Duchenne muscular dystrophy (DMD) program that shows robust and durable exon skipping and dystrophin expression in both cardiac and skeletal muscles in vivo models.
These new data build on previous results in the MDX model showing treatment with FORCE resulted in enhanced functional benefit in multiple standardized assessments and a reduction in serum creatinine kinase, a biomarker of muscle damage.
Conclusion
We have no reason to justify its good performance on Friday. we hope that it will continue to perform well after the weekend as well.
About the company
Dyne Therapeutics is building a leading muscle disease company dedicated to advancing innovative life-transforming therapeutics for people living with genetically driven diseases.
