Dyne Therapeutics Inc. (DYN) shares declined 8.88% in after-hours on Friday, June 25, 2021, and closed at $19.90 per share. Earlier in the morning session, DYN’s stock lost 0.41% to close Friday’s morning session at $21.84. DYN shares have moved up 1.63% in the past week. Over the past three months, the stock has gained 48.47%, while over the past six months, it has shed 7.06%.
Let’s have a look at its recent news and developments.
Preclinical data presentation from its Facioscapulohumeral Muscular Dystrophy Program
On June 25, 2021, Dyne Therapeutics, Inc presented preclinical data from its facioscapulohumeral muscular dystrophy (FSHD) program during the 28th Annual FSHD Society International Research Congress. Data highlighted that Dyne’s proprietary FORCE™ platform enabled targeted muscle delivery with its lead FSHD candidate demonstrating potent suppression of DUX4 transcriptome markers.
New chief scientific officer appointment
On June 02, 2021, Romesh Subramanian, Ph.D.announced to step down as chief scientific officer for personal reasons and will continue to serve as an advisor to Dyne. Oxana Beskrovnaya, Ph.D., who has served as Dyne’s senior vice president, head of research since January 2020, has been appointed CSO.
Participation in the health conference
Dyne Therapeutics recently participated in a fireside chat at the Jefferies Virtual Healthcare Conference which held on Thursday, June 3, 2021.
New preclinical data presentation of myotonic dystrophy type 1 (DM1) program
On May 14, 2021, Dyne Therapeutics, Inc presented new preclinical data from its myotonic dystrophy type 1 (DM1) program at the American Society of Gene & Cell Therapy (ASGCT) 24th Annual Meeting, including results demonstrating sustained knockdown of toxic human nuclear DMPK RNA, the genetic basis of the disease.
The new data showed reductions in toxic human nuclear DMPK RNA with twice the duration and half the dose compared to the data reported earlier in January 2021.
Recent financial results announcement
On May 06, 2021, Dyne Therapeutics, Inc announced its financial results for the first quarter of 2021.
Q1 2021 financial highlights
- Research and development expenses were $18.6 million in Q1 2021 compared to $6.1 million for the first quarter of 2020.
- General and administrative expenses were $6.5 million during the first quarter of 2021compared to $1.8 million for the first quarter of 2020.
- The company reported a net loss of 25.0 million or $0.50 per common share in Q1 2021 compared to$7.9 million, or $0.90 per common share for the first quarter of 2020.
- As of March 31, 2021, the company had cash, cash equivalents and marketable securities of $483.1 million.
The DYN stock loss in the after-hours on Friday is a bit strange because the company announced improved results for the FSHD program on Friday. we hope that DYN shares will start the new week with strong positive momentum.