DYN on Nasdaq
Dyne Therapeutics, Inc.
We are a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases.4 From its latest annual report
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Last updated Oct 19, 2026.
Overview
- TickerDYN on Nasdaq1
- IndustryPharmaceutical Preparations1
- HeadquartersWaltham, Massachusetts1
- Incorporated inDE3
- Business address1560 Trapelo Road, Waltham, Ma 024513
- Filer categoryLarge accelerated filer3
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We are a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases. Our proprietary FORCE platform is designed to leverage the transferrin receptor 1, or TfR1, to deliver targeted therapeutics to muscle tissue and the central nervous system, or CNS. The FORCE platform utilizes an antigen-binding fragment antibody, or Fab, targeting TfR1 conjugated to a payload that we rationally design to target the genetic basis of the disease we are seeking to treat. With our FORCE platform, we have the flexibility to deploy different classes of payloads (such as oligonucleotides and enzymes) with specific mechanisms of action that modify target functions. We currently leverage this modularity to focus on neuromuscular diseases with high unmet need, with etiologic targets and with clear translational potential from preclinical d…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Research and development | $11.0M5 | $45.2M6 | $121.3M7 | $142.8M8 | $210.8M2 | $281.4M2 | $398.3M2 | |
| Operating expenses | $150.0M7 | $171.0M8 | $242.2M2 | $343.9M2 | $468.2M2 | |||
| Operating income | -$13.8M5 | -$58.6M6 | -$150.0M7 | -$171.0M8 | -$242.2M2 | -$343.9M2 | -$468.2M2 | |
| Income tax | $02 | $02 | $02 | |||||
| Net income | -$14.9M5 | -$59.4M6 | -$149.3M7 | -$168.1M8 | -$235.9M2 | -$317.4M2 | -$446.2M2 | |
| Earnings per share | -$2.937 | -$3.238 | -$3.952 | -$3.372 | -$3.472 | |||
| Earnings per share (diluted) | -$2.937 | -$3.238 | -$3.952 | -$3.372 | -$3.472 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $14.6M5 | $300.9M6 | $200.8M7 | $172.1M12 | $121.6M8 | $435.4M2 | $893.4M2 | |
| Current assets | $14.8M5 | $349.1M6 | $382.4M7 | $265.6M12 | $129.4M8 | $659.3M2 | $1.1B2 | |
| Property, plant and equipment | $4.7M7 | $5.9M12 | $4.8M8 | $5.4M2 | $24.0M2 | |||
| Total assets | $16.4M5 | $353.3M6 | $425.7M7 | $306.3M12 | $165.1M8 | $691.2M2 | $1.2B2 | |
| Accounts payable | $4.0M7 | $5.3M12 | $22.9M8 | $6.6M2 | $8.1M2 | |||
| Current liabilities | $2.4M5 | $11.0M6 | $28.7M7 | $28.1M12 | $51.1M8 | $42.3M2 | $50.6M2 | |
| Long-term debt | $02 | $148.9M2 | ||||||
| Total liabilities | $2.4M5 | $11.0M6 | $57.5M7 | $54.0M12 | $73.8M8 | $61.4M2 | $214.8M2 | |
| Retained earnings | -$228.5M7 | -$396.6M12 | -$632.5M8 | -$949.9M2 | -$1.4B2 | |||
| Shareholders’ equity | -$4.9M5 | $14.0M6 | $342.4M7 | $368.2M8 | $252.4M2 | $91.3M2 | $629.8M2 | $972.1M2 |
| Shares outstanding | 2.6M shares5 | 45.1M shares6 | 51.6M shares7 | 55.6M shares12 | 61.5M shares8 | 102.3M shares2 | 165.0M shares2 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -$11.8M5 | -$46.5M6 | -$119.6M7 | -$153.6M8 | -$188.2M2 | -$292.4M2 | -$403.2M2 | |
| Depreciation and amortization | $1.1M7 | $1.7M8 | $1.7M2 | $1.7M2 | $2.0M2 | |||
| Stock-based compensation | $17.5M7 | $15.2M8 | $20.0M2 | $45.9M2 | $45.9M2 | |||
| Capital spending | $1.6M5 | $1.2M6 | $3.6M7 | $3.1M8 | $729.0K2 | $2.4M2 | $1.9M2 | |
| Free cash flow | -$13.5M | -$47.7M | -$123.2M | -$156.7M | -$188.9M | -$294.7M | -$405.1M | |
| Cash from investing | -$137.9M7 | $87.2M8 | $83.3M2 | -$204.1M2 | -$28.8M2 | |||
| Cash from financing | $157.8M7 | $37.4M8 | $54.3M2 | $809.9M2 | $890.3M2 |
Leadership
Who has led Dyne Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerJoshua T. Brumm Jan 4, 2024 to Mar 12, 202413
- PresidentJoshua T. Brumm Jan 4, 2024 to Mar 12, 202413
- Chief financial officerErick Lucera Apr 1, 2025 to now14
- Chief operating officerSusanna Gatti High Sep 17, 2020 to Sep 19, 202415
Board members and other officers (18)
- Chief Medical OfficerDouglas Kerr Sep 3, 2024 to now16
- Chief Commercial OfficerJohanna Friedl-Naderer Sep 3, 2024 to now17
- Chief Medical OfficerWildon Farwell Mar 4, 2021 to Aug 20, 202418
- OfficerJoshua T. Brumm Sep 16, 2020 to Dec 12, 202319
- OfficerOxana Beskrovnaya Sep 16, 2020 to now20
- OfficerRichard William Scalzo Sep 16, 2020 to now21
- Chief Scientific OfficerRomesh Subramanian Sep 16, 2020 to Sep 18, 202022
- Board memberBarry E. Greene Jun 23, 2026 to now23
- Board memberBrian S. Posner Oct 2, 2025 to now24
- Board memberVikram Karnani Dec 23, 2025 to now25
- Board memberCarlo Incerti Mar 4, 2022 to now26
- Board memberCatherine Stehman-Breen Sep 16, 2020 to now27
- Board memberDavid Charles Lubner Sep 16, 2020 to now28
- Board memberDirk Kersten Sep 16, 2020 to now29
- Board memberEdward Hurwitz Sep 16, 2020 to now30
- Board memberJason P. Rhodes Sep 16, 2020 to now31
- Board memberJoshua T. Brumm Sep 16, 2020 to Mar 12, 202419
- Board memberLawrence Otto Klein Sep 16, 2020 to Jul 6, 202232
Timeline
- Jan 4, 2024New chief executive Joshua T. Brumm becomes CEO13
Filings
687 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 56 major events, 304 insider forms, 60 large holders, 247 other. The latest 20:
- Oct 6, 20264 EDGAR
- Sep 29, 20268-K EDGAR
- Sep 8, 2026144 EDGAR
- Sep 8, 2026144 EDGAR
- Sep 8, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 4, 2026144 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
The 687 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
279 open-market trades by officers, directors and large owners since October 2021: 12 buys and 267 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 8, 2026 | Friedl-Naderer JohannaChief Commercial Officer | Sale | 185 | $18.88 | $3.5K | Form 4 |
| Sep 8, 2026 | Kerr DouglasChief Medical Officer | Sale | 1,290 | $18.88 | $24.4K | Form 4 |
| Sep 8, 2026 | Cox JohnCEO & President | Sale | 5,658 | $18.88 | $106.8K | Form 4 |
| Sep 4, 2026 | Friedl-Naderer JohannaChief Commercial Officer | Sale | 900 | $24.35 | $21.9K | Form 4 |
| Sep 4, 2026 | Kerr DouglasChief Medical Officer | Sale | 3,745 | $24.35 | $91.2K | Form 4 |
| Aug 14, 2026 | Rhodes Jason PDirector | Sale | 2,160,516 | $25.00 | $54.0M | Form 4 |
| Aug 13, 2026 | Friedl-Naderer JohannaChief Commercial Officer | Sale | 226 | $26.28 | $5.9K | Form 4 |
| Aug 13, 2026 | Kerr DouglasChief Medical Officer | Sale | 1,556 | $26.28 | $40.9K | Form 4 |
| Aug 13, 2026 | Lucera ErickChief Financial Officer | Sale | 1,797 | $26.28 | $47.2K | Form 4 |
| Aug 13, 2026 | Rhodes Jason PDirector | Sale | 426,412 | $26.20 | $11.2M | Form 4 |
| Aug 13, 2026 | Cox JohnCEO & President | Sale | 4,986 | $26.28 | $131.0K | Form 4 |
| Jul 27, 2026 | Kersten DirkDirector | Sale | 261,460 | $25.51 | $6.7M | Form 4 |
| Jul 7, 2026 | Rhodes Jason PDirector | Sale | 297,211 | $23.26 | $6.9M | Form 4 |
| Jul 6, 2026 | Rhodes Jason PDirector | Sale | 480,240 | $22.79 | $10.9M | Form 4 |
| Jun 29, 2026 | Rhodes Jason PDirector | Sale | 195,427 | $21.14 | $4.1M | Form 4 |
| Jun 26, 2026 | Rhodes Jason PDirector | Sale | 309,268 | $21.28 | $6.6M | Form 4 |
| Jun 25, 2026 | Rhodes Jason PDirector | Sale | 24,100 | $21.10 | $508.5K | Form 4 |
| Jun 25, 2026 | Lucera ErickChief Financial Officer | Sale | 2,362 | $20.37 | $48.1K | Form 4 |
| Jun 24, 2026 | Rhodes Jason PDirector | Sale | 95,900 | $21.02 | $2.0M | Form 4 |
| Jun 23, 2026 | Rhodes Jason PDirector | Sale | 147,760 | $21.13 | $3.1M | Form 4 |
All 279 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Atlas Venture Fund XI, L.P.SCHEDULE 13G/A, 6 filings Feb 11, 2022 to Aug 13, 202633
- Janus Henderson Group Ltd.SCHEDULE 13G/A, 8 filings Nov 14, 2024 to Aug 13, 202634
- FMR LLCSCHEDULE 13G/A, 5 filings Nov 12, 2024 to Aug 6, 202635
- BlackRockSCHEDULE 13G/A, 3 filings Oct 22, 2024 to Jul 28, 202636
- T. Rowe Price Investment Management, Inc.SCHEDULE 13G/A, 3 filings Jan 8, 2026 to May 15, 202637
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Nov 4, 2024 to Mar 26, 202638
- RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13G/A, 6 filings Feb 14, 2022 to Nov 14, 202539
- Forbion Capital Fund IV Cooperatief U.A.SCHEDULE 13G/A, 2 filings Nov 14, 2024 to May 15, 202540
- Point72 Asset Management, L.P.SCHEDULE 13G/A, 2 filings Feb 3, 2025 to May 15, 202541
- RTW INVESTMENTS, LPSCHEDULE 13G/A, 3 filings Nov 14, 2024 to May 15, 202542
- CITADEL ADVISORS LLCSC 13G/A, 4 filings Feb 14, 2022 to Nov 14, 202443
- Deep Track Capital, LPSC 13G/A, 6 filings Jan 20, 2022 to Nov 14, 202444
- MPM BIOVENTURES 2018, L.P.SC 13G/A, 2 filings Feb 9, 2023 to Feb 12, 202445
- Logos Global Management LPSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202346
- Vida Ventures II, LLCSC 13D/A, 1 filing Feb 10, 202347
- Wellington Management CompanySC 13G/A, 1 filing Feb 4, 202248
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARDouglas Kerr, Chief Medical Officer
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- 19SEC EDGARJoshua T. Brumm, Officer
- 20SEC EDGAROxana Beskrovnaya, Officer
- 21SEC EDGARRichard William Scalzo, Officer
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- 23SEC EDGARBarry E. Greene, Board member
- 24SEC EDGARBrian S. Posner, Board member
- 25SEC EDGARVikram Karnani, Board member
- 26SEC EDGARCarlo Incerti, Board member
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- 28SEC EDGARDavid Charles Lubner, Board member
- 29SEC EDGARDirk Kersten, Board member
- 30SEC EDGAREdward Hurwitz, Board member
- 31SEC EDGARJason P. Rhodes, Board member
- 32SEC EDGARLawrence Otto Klein, Board member
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