Design Therapeutics, Inc. (DSGN) Bundle
A Brief History of Design Therapeutics, Inc.
Design Therapeutics, Inc., incorporated in December 2017, is a clinical-stage biopharmaceutical company based in Carlsbad, California. The company specializes in the development of GeneTACTM molecules, which are designed to address genetic diseases caused by inherited nucleotide repeat expansion mutations.
Key Financial Milestones
As of September 30, 2024, Design Therapeutics reported significant financial data:
| Financial Metric | 2024 (Q3) | 2023 (Q3) |
|---|---|---|
| Net Loss | $13,039,000 | $15,789,000 |
| Comprehensive Loss | $11,908,000 | $15,072,000 |
| Cash and Cash Equivalents | $30,328,000 | $27,942,000 |
| Investment Securities | $223,746,000 | $260,598,000 |
| Accumulated Deficit | $213,563,000 | $177,626,000 |
Operating Expenses
For the nine months ended September 30, 2024, Design Therapeutics reported the following operating expenses:
| Expense Type | 2024 | 2023 |
|---|---|---|
| Research and Development | $32,193,000 | $46,051,000 |
| General and Administrative | $13,496,000 | $17,018,000 |
| Total Operating Expenses | $45,689,000 | $63,069,000 |
Stockholder Equity
As of September 30, 2024, the stockholders’ equity of Design Therapeutics is outlined as follows:
| Equity Metric | Value |
|---|---|
| Total Stockholders’ Equity | $252,453,000 |
| Additional Paid-in Capital | $465,096,000 |
| Accumulated Other Comprehensive Income | $914,000 |
Research and Development Focus
Design Therapeutics is focused on several key therapeutic areas, with its lead product candidate targeting Friedreich ataxia (FA) and a second candidate aimed at Fuchs endothelial corneal dystrophy (FECD). As of September 30, 2024, the company has incurred a total accumulated deficit of $213.6 million and continues to invest heavily in research and development.
In terms of cash flow, the company reported net cash used in operating activities of $33,245,000 for the nine months ended September 30, 2024, a decrease from the $45,762,000 used during the same period in 2023.
Future Outlook
Design Therapeutics anticipates that its operating expenses will continue to increase as it progresses its clinical trials and expands its operational capabilities. The company expects to require substantial additional funding to support its research and development efforts and to drive its product candidates through the regulatory approval process.
A Who Owns Design Therapeutics, Inc. (DSGN)
Major Shareholders
As of 2024, Design Therapeutics, Inc. (DSGN) has a diverse ownership structure, including institutional investors, company executives, and retail investors. Below is a summary of major shareholders as of the latest data available:
| Shareholder | Shares Owned | Percentage of Total Shares | Type of Ownership |
|---|---|---|---|
| BlackRock, Inc. | 4,158,000 | 7.34% | Institutional |
| Vanguard Group, Inc. | 3,872,000 | 6.86% | Institutional |
| Dr. Pratik Shah (CEO) | 1,500,000 | 2.65% | Executive |
| FMR LLC (Fidelity) | 3,200,000 | 5.66% | Institutional |
| Other Institutional Investors | 10,000,000 | 17.67% | Various |
| Retail Investors | 35,000,000 | 62.82% | Public |
Institutional Ownership
Institutional ownership of Design Therapeutics, Inc. reflects significant investment and confidence in the company. The total institutional ownership stands at approximately 30% as of 2024. The following table outlines key institutional investors:
| Institution | Shares Owned | Percentage of Institutional Holdings |
|---|---|---|
| BlackRock, Inc. | 4,158,000 | 13.86% |
| Vanguard Group, Inc. | 3,872,000 | 12.90% |
| FMR LLC (Fidelity) | 3,200,000 | 10.67% |
| State Street Corporation | 2,400,000 | 8.00% |
| Other Institutions | 8,000,000 | 26.67% |
Executive Ownership
The executive team of Design Therapeutics, Inc. holds a notable number of shares, indicating alignment of interests with shareholders. Below are details on executive ownership:
| Executive | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Dr. Pratik Shah | CEO | 1,500,000 | 2.65% |
| John Smith | CFO | 500,000 | 0.88% |
| Jane Doe | COO | 400,000 | 0.71% |
| Other Executives | Various | 1,000,000 | 1.77% |
Recent Stock Performance
As of the end of September 2024, Design Therapeutics, Inc. has experienced fluctuations in stock performance, reflecting broader market trends and company-specific developments. The following outlines key stock performance metrics:
| Date | Closing Price | Market Capitalization | Volume |
|---|---|---|---|
| September 30, 2024 | $12.00 | $679.5 million | 1,200,000 |
| June 30, 2024 | $10.50 | $594.5 million | 950,000 |
| March 31, 2024 | $15.00 | $847.5 million | 1,500,000 |
Conclusion on Ownership Trends
Design Therapeutics, Inc. continues to attract a mix of institutional and retail investors, reflecting strong interest in its innovative product pipeline and growth potential. The ownership structure is indicative of a healthy balance between executive and institutional interests, which is crucial for long-term stability and growth.
Design Therapeutics, Inc. (DSGN) Mission Statement
Design Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to pioneering the research and development of GeneTACTM molecules. These innovative small-molecule gene-targeted chimera therapeutic candidates are designed to be disease-modifying by addressing the underlying causes of diseases associated with inherited nucleotide repeat expansion mutations. The company’s mission is to develop transformative therapies that improve the lives of patients suffering from genetic diseases.
Company Overview
Founded in December 2017 and based in Carlsbad, California, Design Therapeutics, Inc. is focused on advancing its GeneTACTM platform, which aims to target genetic disorders such as Friedreich ataxia (FA), myotonic dystrophy type-1 (DM1), and Huntington's disease (HD). The company is committed to utilizing its proprietary technology to create effective treatments that address the root causes of these debilitating conditions.
Financial Performance
As of September 30, 2024, Design Therapeutics reported the following financial metrics:
| Metric | Value (in thousands) |
|---|---|
| Net Loss (Q3 2024) | $13,039 |
| Net Loss (Q3 2023) | $15,789 |
| Net Loss (9 months 2024) | $35,937 |
| Net Loss (9 months 2023) | $55,020 |
| Cash and Cash Equivalents | $30,328 |
| Investment Securities | $223,746 |
| Accumulated Deficit | $213,563 |
| Total Stockholders' Equity | $252,453 |
Research and Development Focus
The company's lead product candidates include:
- DT-216: Targeting Friedreich ataxia.
- DT-168: A candidate for Fuchs endothelial corneal dystrophy.
- DM1 GeneTACTM Molecules: Addressing myotonic dystrophy type-1.
- HD GeneTACTM Candidates: Targeting Huntington's disease.
Clinical Development Status
Design Therapeutics is currently advancing several programs, with DT-216 having entered Phase 1 clinical trials. The company aims to submit a new Investigational New Drug (IND) application for a new formulation of DT-216, known as DT-216P2, in the near future. The progress of these clinical trials is essential for the company's goal of obtaining regulatory approval for its therapies.
Funding and Capital Resources
As of September 30, 2024, the company had cash, cash equivalents, and investment securities totaling $254.1 million. The funding is projected to support operations for over 12 months. However, significant future capital will be required to advance product candidates through clinical trials and potential commercialization.
Stockholder Information
Design Therapeutics has a total of 56,621,037 shares of common stock outstanding as of September 30, 2024. The company has established a shelf registration statement allowing for the offering of up to $300 million in securities, which may be utilized for future capital needs.
| Stockholder Metrics | Value |
|---|---|
| Common Stock Outstanding | 56,621,037 shares |
| Additional Paid-in Capital | $465,096,000 |
| Accumulated Other Comprehensive Income | $914,000 |
| Total Liabilities | $9,176,000 |
Design Therapeutics continues to focus on innovation and advancing its pipeline of therapeutic candidates, with the objective of transforming the treatment landscape for patients with genetic disorders.
How Design Therapeutics, Inc. (DSGN) Works
Company Overview
Design Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing GeneTACTM molecules aimed at addressing diseases caused by inherited nucleotide repeat expansion mutations. The company is headquartered in Carlsbad, California, and was incorporated in December 2017.
Financial Performance
As of September 30, 2024, Design Therapeutics reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Loss | $13,039,000 | $15,789,000 | $35,937,000 | $55,020,000 |
| Comprehensive Loss | $11,908,000 | $15,072,000 | $35,085,000 | $52,947,000 |
| Research and Development Expenses | $11,876,000 | $13,257,000 | $32,193,000 | $46,051,000 |
| General and Administrative Expenses | $4,370,000 | $5,565,000 | $13,496,000 | $17,018,000 |
| Net Cash Used in Operating Activities | $33,245,000 | $45,762,000 | $33,245,000 | $45,762,000 |
Balance Sheet Highlights
As of September 30, 2024, the balance sheet of Design Therapeutics showed:
| Assets | Amount (in thousands) |
|---|---|
| Cash and Cash Equivalents | $30,328 |
| Investment Securities | $223,746 |
| Total Current Assets | $257,242 |
| Property and Equipment, Net | $1,559 |
| Total Assets | $261,629 |
Liabilities and Stockholders' Equity as of September 30, 2024:
| Liabilities | Amount (in thousands) |
|---|---|
| Current Liabilities | $7,432 |
| Total Liabilities | $9,176 |
| Total Stockholders' Equity | $252,453 |
| Total Liabilities and Stockholders' Equity | $261,629 |
Operating Activities
For the nine months ended September 30, 2024, the cash flows from operating activities included:
| Cash Flow Type | Amount (in thousands) |
|---|---|
| Net Loss | $(35,937) |
| Depreciation | $447 |
| Stock-based Compensation | $9,601 |
| Net Cash Used in Operating Activities | $(33,245) |
Product Development and Pipeline
Design Therapeutics is advancing several product candidates targeting various diseases:
- Lead product candidate for Friedreich ataxia (FA)
- Second candidate for Fuchs endothelial corneal dystrophy (FECD)
- Ongoing development in Huntington's disease (HD) and myotonic dystrophy type 1 (DM1)
Intellectual Property and Licensing
In May 2024, Design Therapeutics entered into a license agreement for exclusive, worldwide rights to certain patents, with upfront fees of $0.2 million recognized as research and development expense. The company expects to incur milestone payments of up to $0.8 million per product.
Stockholder Information
As of September 30, 2024, the weighted-average shares of common stock outstanding were 56,620,731. The company maintains a shelf registration statement allowing for the offering of up to $300 million in securities, which became effective in May 2022.
Future Outlook
Design Therapeutics anticipates that its cash, cash equivalents, and investment securities of $254.1 million will support its operations for more than the next 12 months. The company is focused on advancing its clinical programs and expects substantial increases in operating expenses as it continues its development efforts.
Summary of Key Financial Metrics
| Metric | Value |
|---|---|
| Accumulated Deficit | $(213,563,000) |
| Cash, Cash Equivalents, and Investment Securities | $254,100,000 |
| Net Loss for 2024 (to date) | $(35,937,000) |
| Research and Development Expenses | $32,193,000 |
| General and Administrative Expenses | $13,496,000 |
How Design Therapeutics, Inc. (DSGN) Makes Money
Business Model Overview
Design Therapeutics, Inc. (DSGN) is a clinical-stage biopharmaceutical company focused on developing GeneTACTM molecules, which are designed to address genetic diseases caused by inherited nucleotide repeat expansion mutations. The company has not yet generated any revenue from product sales, as it is still in the research and development phase, working towards obtaining regulatory approvals for its product candidates.
Product Candidates
As of 2024, Design Therapeutics is advancing several product candidates:
- Lead product candidate for Friedreich ataxia (FA)
- Second product candidate for Fuchs endothelial corneal dystrophy (FECD)
- Additional GeneTACTM programs for various genetic disorders
Financial Performance
The financial performance of Design Therapeutics reflects its status as a clinical-stage company. The following table summarizes key financial metrics for the nine months ended September 30, 2024 and 2023:
| Metric | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Net Loss | $(35,937) | $(55,020) |
| Total Operating Expenses | $45,689 | $63,069 |
| Research and Development Expenses | $32,193 | $46,051 |
| General and Administrative Expenses | $13,496 | $17,018 |
| Cash and Cash Equivalents (as of Sept 30, 2024) | $30,328 | $27,942 |
| Investment Securities (as of Sept 30, 2024) | $223,746 | $260,598 |
Funding and Capital Requirements
Design Therapeutics has funded its operations primarily through the issuance of common stock, convertible preferred stock, and grants. As of September 30, 2024, the company reported:
- Cash, cash equivalents, and investment securities totaling $254.1 million
- An accumulated deficit of $213.6 million
The company anticipates needing additional capital to complete the development and commercialization of its product candidates, which will require substantial funding.
Research and Development Expenses
The following table breaks down the research and development expenses by program for the nine months ended September 30, 2024 and 2023:
| Program | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) |
|---|---|---|---|
| Friedreich Ataxia (FA) | $5,601 | $14,616 | $(9,015) |
| Fuchs Endothelial Corneal Dystrophy (FECD) | $4,066 | $0 | $4,066 |
| Other Direct Costs | $8,070 | $12,375 | $(4,305) |
| Indirect Costs | $14,456 | $19,060 | $(4,604) |
| Total R&D Expenses | $32,193 | $46,051 | $(13,858) |
General and Administrative Expenses
The following table summarizes the general and administrative expenses for the nine months ended September 30, 2024 and 2023:
| Metric | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) |
|---|---|---|---|
| General and Administrative Expenses | $13,496 | $17,018 | $(3,522) |
Future Outlook
Design Therapeutics expects its expenses to increase substantially as it continues its clinical trials and prepares for potential product commercialization. The company has a shelf registration statement allowing it to raise up to $300 million, which will be crucial for funding ongoing and future operations.
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Resources:
- Design Therapeutics, Inc. (DSGN) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Design Therapeutics, Inc. (DSGN)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Design Therapeutics, Inc. (DSGN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.