Design Therapeutics Files Q2 2024 10-Q
Ticker: DSGN · Form: 10-Q · Filed: Aug 5, 2024 · CIK: 1807120
| Field | Detail |
|---|---|
| Company | Design Therapeutics, Inc. (DSGN) |
| Form Type | 10-Q |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
**DESIGN Therapeutics Q2 10-Q FILED** - Financials and ops update.
AI Summary
Design Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Key financial figures and operational details for the second quarter of 2024 are detailed within the filing.
Why It Matters
This filing provides investors with crucial financial and operational insights into Design Therapeutics' performance and strategic direction for the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a biopharmaceutical company, Design Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2834 — SIC Code (Indicates the company operates in Pharmaceutical Preparations.)
Key Players & Entities
- Design Therapeutics, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240805 (date) — Filing date
- Carlsbad, CA (location) — Company headquarters
FAQ
What were Design Therapeutics' total revenues for the quarter ended June 30, 2024?
The filing does not explicitly state total revenues for the quarter ended June 30, 2024, but it does reference Research and Development Expense for the period.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What is the company's SEC file number?
The SEC file number for Design Therapeutics is 001-40288.
Where is Design Therapeutics headquartered?
Design Therapeutics is headquartered in Carlsbad, California.
What type of securities does the company have listed?
The company has Common Stock (us-gaap:CommonStockMember) and Additional Paid In Capital (us-gaap:AdditionalPaidInCapitalMember) as indicated in the filing.
Filing Stats: 4,442 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-08-05 08:12:39
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share DSGN The Nasdaq
Filing Documents
- dsgn-20240630.htm (10-Q) — 2024KB
- dsgn-ex31_1.htm (EX-31.1) — 17KB
- dsgn-ex32_1.htm (EX-32.1) — 11KB
- 0000950170-24-090337.txt ( ) — 7093KB
- dsgn-20240630.xsd (EX-101.SCH) — 786KB
- dsgn-20240630_htm.xml (XML) — 1396KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Balance Sheets 1 Condensed Statements of Operations 2 Condensed Statements of Comprehensive Loss 3 Condensed Statements of Stockholders' Equity 4 Condensed Statements of Cash Flows 5 Notes to Condensed Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.
Controls and Procedures
Controls and Procedures 25 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 75
Signatures
Signatures 76 iv
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements. DESIGN THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (in thousands, except share and par value data) June 30, December 31, 2024 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 45,699 $ 21,200 Investment securities 215,317 260,598 Prepaid expenses and other current assets 3,826 2,786 Total current assets 264,842 284,584 Property and equipment, net 1,728 1,691 Right-of-use asset, related party 2,583 2,938 Other assets 429 430 Total assets $ 269,582 $ 289,643 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,297 $ 1,940 Accrued expenses and other current liabilities (including related party amounts of $ 757 and $ 716 respectively) 5,097 7,682 Total current liabilities 6,394 9,622 Operating lease liability, net, related party 1,946 2,334 Total liabilities 8,340 11,956 Commitments and contingencies (See Note 8) Stockholders' equity: Common stock, $ 0.0001 par value; 200,000,000 shares authorized at June 30, 2024 and December 31, 2023; 56,620,014 and 56,473,598 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 6 6 Additional paid-in capital 461,977 455,245 Accumulated deficit ( 200,524 ) ( 177,626 ) Accumulated other comprehensive (loss) income ( 217 ) 62 Total stockholders' equity 261,242 277,687 Total liabilities and stockholders' equity $ 269,582 $ 289,643 The accompanying notes are an integral part of these financial statements. 1 DESIGN THERAPEUTICS, INC. CONDENSED STATEMENTS OF OPERATIONS (in thousands, except share and per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development (including related party amounts of $ 222 , $ 258 , $ 446 and $ 517 , respectively) $ 10,516 $ 17,