--- title: "Dyne Therapeutics has $898.5 million in cash and a runway into 2028" url: "https://aibio.space/news/dyne-therapeutics-has-898-5-million-cash-runway-2028-after-july/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-29" section: "Financings" tickers: "NASDAQ:DYN" source: "https://investors.dyne-tx.com/node/12641/pdf" summary: "The company sold 21,045,000 shares at $20.50 in July and expanded a loan facility to $400 million as it prepares a possible Duchenne launch." --- By the aibio.space Dyne desk. Sources - [Dyne Therapeutics](https://investors.dyne-tx.com/node/12641/pdf) - [Dyne Therapeutics Q2 2026 release (IR site)](https://dynetx.gcs-web.com/news-releases/news-release-details/dyne-therapeutics-reports-second-quarter-2026-financial-results) - [Investing News](https://investingnews.com/dyne-therapeutics-reports-second-quarter-2026-financial-results-and-recent-business-highlights/) [DYN](https://aibio.space/companies/dyne-therapeutics/) 2026-07-29 # Dyne Therapeutics has $898.5 million in cash and a runway into 2028 after July offering Tickers [DYN](https://aibio.space/companies/dyne-therapeutics/) The company sold 21,045,000 shares at $20.50 in July and expanded a loan facility to $400 million as it prepares a possible Duchenne launch. ## Key facts - **Company**: Dyne Therapeutics, Inc. (NASDAQ: DYN) - **News type**: Financings - **Primary source**: [Dyne Therapeutics](https://investors.dyne-tx.com/node/12641/pdf) *A conference room set for a meeting. CC0, via rawpixel. The picture shows the field, not the companies named.* Dyne Therapeutics ended the second quarter with $898.5 million in cash, cash equivalents and marketable securities and said the money, including the proceeds of a July stock offering, should fund operations into the second quarter of 2028. The company reported the figures in its [July 29 earnings release](https://investors.dyne-tx.com/node/12641/pdf). In July, Dyne sold [21,045,000 shares at $20.50](https://investors.dyne-tx.com/node/12641/pdf) each, for about $431 million before costs and roughly $405.0 million net, according to the same release. ## The details The quarterly net loss was [$178.6 million](https://investors.dyne-tx.com/node/12641/pdf), or $1.08 per share, against $110.9 million, or $0.97 per share, a year earlier. Research and development expense was $152.2 million, up from $99.2 million, which the company attributed to manufacturing and clinical costs for z-rostudirsen and z-basivarsen. General and administrative expense was $29.5 million against $16.6 million, mainly from preparing for a potential z-rostudirsen launch. Total liabilities were $291.9 million and stockholders' equity was $702.2 million at June 30. In June, Dyne amended its term loan with [Hercules Capital](https://investors.dyne-tx.com/node/12641/pdf) to allow borrowing of up to $400 million. On the pipeline, the FDA accepted the biologics license application for z-rostudirsen in exon 51 Duchenne muscular dystrophy with Priority Review and a Jan. 21, 2027 action date. The confirmatory phase 3 FORZETTO trial began in May. For z-basivarsen in myotonic dystrophy type 1, [enrollment of 71 participants](https://investors.dyne-tx.com/node/12641/pdf) in the ACHIEVE registrational expansion cohort finished in June, and dosing in the phase 3 HARMONIA trial began in July. Topline data from the expansion cohort are expected in the first quarter of 2027. The company said a possible BLA submission for accelerated approval could follow in the third quarter of 2027 and a possible US launch in the first half of 2028. The FDA also cleared the IND application in July for [DYNE-302](https://investors.dyne-tx.com/node/12641/pdf), a phase 1 trial in facioscapulohumeral muscular dystrophy with safety and tolerability as the primary endpoint. CEO John Cox said the BLA acceptance [marks an important milestone](https://dynetx.gcs-web.com/news-releases/news-release-details/dyne-therapeutics-reports-second-quarter-2026-financial-results) and that the company is investing in the capabilities needed to support patients. ## Context The financing came shortly after the FDA's acceptance of the z-rostudirsen filing on July 20, which was announced in a [separate release](https://investors.dyne-tx.com/node/12531/pdf). Dyne now has two things that need money: a launch in early 2027 and a second late-stage program that will not report topline data until the first quarter of 2027. Spending is rising quickly. [R&D expense grew by about $53 million](https://investors.dyne-tx.com/node/12641/pdf) from a year earlier, and G&A expense grew by about $13 million, both calculated from the release. If a launch happens, selling and distribution costs will follow. ## What it means for investors The runway statement matters because it covers the main decision points. With [cash into the second quarter of 2028](https://investors.dyne-tx.com/node/12641/pdf), Dyne can get through the January 2027 FDA decision, the z-basivarsen topline readout in the first quarter of 2027 and the planned BLA submission for that drug without a new equity raise, on the company's own guidance. Guidance can change, and a launch costs money that is hard to predict. The offering was priced at [$20.50 a share](https://investors.dyne-tx.com/node/12641/pdf), according to the release. The cost to existing shareholders was dilution: 21,045,000 new shares. This article does not state a current share price. The debt facility is worth a separate note. Access to [up to $400 million](https://investors.dyne-tx.com/node/12641/pdf) of borrowing gives the company more flexibility, but debt carries repayment terms that this article cannot detail from the sources reviewed. Net loss widened by about [61%](https://investors.dyne-tx.com/node/12641/pdf) from a year earlier, a figure calculated from the release. A drug approval could bring revenue, but that outcome is not certain until January. ## What to watch The next dated events are the Jan. 21, 2027 FDA decision on z-rostudirsen and, in the first quarter of 2027, topline data from the z-basivarsen expansion cohort, according to the [quarterly report](https://investingnews.com/dyne-therapeutics-reports-second-quarter-2026-financial-results-and-recent-business-highlights/). Dyne's next quarterly report has not been dated in the sources reviewed. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story DYN Dyne Therapeutics, Inc. NASDAQ ยท United States Open the desk ## More from the Dyne desk Debt Financing ### [Dyne Therapeutics draws $50.0 million more under Hercules facility](https://aibio.space/news/dyne-therapeutics-draws-50-0-million-more-under-hercules-facility/) Jun 16, 2026 Debt Financing ### [Dyne Therapeutics borrows $50.0 million second tranche under amended Hercules term loan](https://aibio.space/news/dyne-therapeutics-borrows-50-0-million-second-tranche-under-amended/) Dec 8, 2025 Debt Financing ### [Pelthos amends Horizon venture loan, funds Loans E to H and adds Loans I and J](https://aibio.space/news/pelthos-amends-horizon-venture-loan-funds-loans-e-h-adds-loans/) Oct 30, 2026 --- Source page: https://aibio.space/news/dyne-therapeutics-has-898-5-million-cash-runway-2028-after-july/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Dyne Therapeutics has $898.5 million in cash and a runway into 2028", 2026-07-29, https://aibio.space/news/dyne-therapeutics-has-898-5-million-cash-runway-2028-after-july/