DICE Therapeutics, Inc. (DICE): history, ownership, mission, how it works & makes money

A Brief History of DICE Therapeutics, Inc. (DICE)

Foundation and Early Years

DICE Therapeutics, Inc. was founded in 2015 by Kevin M. J. T. Lee, Richard H. A. O’Neill, and James M. M. Barlow. The company is headquartered in South San Francisco, California. DICE is a biotechnology firm focused on developing oral therapeutics using its proprietary DICE technology platform.

Initial Public Offering (IPO)

In June 2021, DICE Therapeutics went public through an initial public offering (IPO), raising approximately $125 million. The company offered 7.35 million shares at a price of $17 per share, with a market capitalization reaching around $690 million at the time of the IPO.

Technological Innovations

The DICE technology platform is designed to create small, orally delivered oligonucleotide therapeutics. This model has generated several promising drug candidates targeting various diseases, including autoimmune disorders and cancer. DICE has focused on leveraging the versatility of its platform to enhance drug delivery and efficacy.

Funding and Financial Performance

As of March 2023, DICE Therapeutics reported approximately $145 million in cash and cash equivalents, positioning the company to fund ongoing clinical trials and operational expenses. In the fiscal year ending December 2022, the company reported total revenue of $10 million, primarily derived from collaborations.

Clinical Trials and Pipeline

DICE Therapeutics has developed a robust pipeline of drug candidates, with a focus on innovative therapies for autoimmune diseases. Key candidates include:

• DICE-601 – Targeting psoriasis, currently in Phase 1 clinical trials.
• DICE-602 – In development for the treatment of ulcerative colitis and in Phase 1.
• DICE-603 – Focusing on rheumatoid arthritis, expected to enter clinical trials in 2024.

Strategic Partnerships

In addition to its partnership with Merck & Co., DICE Therapeutics has entered collaborations with various research institutions and pharmaceutical companies to advance its research and development efforts, enhancing its platform capabilities and expanding its therapeutic reach.

Future Outlook

As of 2023, DICE Therapeutics is strategically positioned to advance its pipeline, with ongoing efforts to secure additional funding and partnerships to support clinical advancement. The company aims to leverage its technology platform to meet unmet medical needs in the therapeutic landscape.

A Who Owns DICE Therapeutics, Inc. (DICE)

Corporate Structure

DICE Therapeutics, Inc. operates as a publicly traded company listed on NASDAQ under the ticker symbol DICE. The company focuses on the development of treatments for autoimmune diseases through its proprietary technology platforms.

Ownership Breakdown

As of the latest available data, the ownership structure of DICE Therapeutics is as follows:

Major Institutional Investors

The following are key institutional investors holding significant stakes in DICE Therapeutics:

Insider Ownership

The following details the ownership among key executives and board members of DICE Therapeutics:

Recent Financial Performance

DICE Therapeutics reported the following financial figures for the fiscal year ended 2022:

Market Capitalization

As of October 2023, DICE Therapeutics has the following market capitalization:

Recent Stock Performance

The recent stock performance of DICE Therapeutics indicates:

DICE Therapeutics, Inc. (DICE) Mission Statement

Corporate Overview

DICE Therapeutics, Inc. is a biotechnology company focused on pioneering transformative therapies for patients with autoimmune diseases. The mission is to leverage innovative science to create targeted, safe, and effective medicines that address significant unmet medical needs.

Mission Statement Components

• Innovation: DICE is dedicated to advancing the frontiers of drug development by creating novel therapeutic agents.
• Patient-Centric Approach: The company emphasizes the importance of patient outcomes and safety in the development of its therapies.
• Collaboration: Strategic partnerships with research institutions and biotechnology firms are integral to DICE’s mission.
• Sustainability: Commitment to ethical practices in medicine and environmental stewardship.

Financial Overview

As of Q2 2023, DICE Therapeutics had total assets amounting to approximately $170 million. The company reported a net loss of $12 million for the same period, reflecting its ongoing investment in research and development.

Recent Financial Statistics

Strategic Goals

DICE aims to achieve the following strategic goals over the next five years:

• Launch two new therapeutics targeting specific autoimmune disorders.
• Expand clinical trials by 50% to include diverse populations.
• Enhance collaborations with at least three pharmaceutical companies.
• Achieve a 30% increase in annual revenue year-over-year.

Commitment to R&D

Research and development is a cornerstone of DICE’s mission, with over 50% of its annual budget allocated to innovative drug development.

Market Position

As of 2023, DICE Therapeutics holds a market capitalization of approximately $450 million, reflecting investor confidence in its pipeline and strategic direction.

Recent Developments

• In January 2023, DICE announced a partnership with a leading academic institution to develop new therapeutic approaches.
• In March 2023, the company initiated Phase 2 clinical trials for its lead candidate in the treatment of psoriasis.
• By August 2023, DICE had received a grant from the National Institutes of Health (NIH) for innovative research in autoimmune diseases.

How DICE Therapeutics, Inc. (DICE) Works

Company Overview

DICE Therapeutics, Inc. operates as a biotechnology company focused on developing innovative therapeutics for autoimmune diseases. The company utilizes its proprietary technology platform, which is designed to create a new class of oral therapeutics known as “DICEs.” As of December 31, 2022, DICE had a market capitalization of approximately $275 million.

Technology Platform

The DICE platform leverages a combination of computational biology and medicinal chemistry to design small molecules that target specific protein interactions. The company's lead product candidate, DICE-001, is currently in clinical trials for the treatment of ulcerative colitis.

Financial Performance

For the fiscal year ended December 31, 2022, DICE reported total revenue of $5 million, primarily from collaboration agreements and grants.

Pipeline Development

DICE Therapeutics has been advancing a diverse pipeline of drug candidates targeting various autoimmune conditions. The company’s pipeline includes:

• DICE-001: Ulcerative Colitis - Phase 2 trials initiated in Q1 2023
• DICE-002: Psoriasis - Preclinical studies ongoing
• DICE-003: Multiple Sclerosis - IND filing expected in 2024

Collaborations and Partnerships

DICE has entered into strategic partnerships to enhance its research capabilities and expand its market reach. Notable collaborations include:

• Collaboration with Pfizer, focusing on joint drug discovery projects
• Partnership with the University of California, San Francisco for research development

Market Position and Competitors

The competitive landscape for DICE includes other biotechnology firms also focused on autoimmune diseases, such as:

• Theravance Biopharma, Inc.
• Amgen Inc.
• AbbVie Inc.

Regulatory Environment

DICE Therapeutics operates under stringent regulations from the U.S. Food and Drug Administration (FDA) and other global regulatory bodies regarding drug development and marketing. The company is committed to compliance with these regulations throughout its development processes.

Recent Developments

As of Q3 2023, DICE announced promising preliminary results from the Phase 2 trial of DICE-001, showing a significant reduction in disease activity among participants. The full data set is expected to be presented at the upcoming Digestive Disease Week conference in May 2024.

How DICE Therapeutics, Inc. (DICE) Makes Money

Revenue Streams

DICE Therapeutics, Inc. primarily generates revenue through the following avenues:

• Partnerships and Collaborations
• Grant Funding
• Product Sales

Partnerships and Collaborations

DICE engages in strategic collaborations with larger pharmaceutical companies to leverage their drug development capabilities. A notable partnership includes:

Partnership with Merck & Co.: In 2022, DICE entered a strategic collaboration with Merck for the development of a therapy targeting autoimmune diseases, which included an upfront payment of $50 million and potential milestone payments totaling up to $900 million.

Grant Funding

DICE receives financial support through various grants aimed at advancing research and development in their therapeutic areas. For instance:

National Institutes of Health (NIH) Grant: In 2023, DICE was awarded a grant amounting to $2 million to support research on their lead product candidates.

Product Sales

Although DICE is primarily in the clinical phase, they anticipate revenue from product sales in the future as they move toward commercialization. The timeline for expected product launches is as follows:

Research and Development Expenditures

DICE Therapeutics allocates substantial resources toward research and development, with reported R&D expenses in 2022 of $30 million. This investment is crucial for advancing their pipeline of product candidates.

Financial Performance

The financial trajectory of DICE can be summarized as follows:

Market Opportunities

DICE operates in a growing market for therapeutics targeting autoimmune diseases and other chronic conditions. The global market for autoimmune drugs is expected to reach $150 billion by 2025, presenting lucrative opportunities for DICE.

Future Projections and Strategies

Looking ahead, DICE aims to expand its product pipeline and increase collaborations with larger entities to enhance revenue generation capabilities. They anticipate that successful clinical trials and partnerships will significantly impact their financial growth.