Dyne Therapeutics Announces Closing of Public Offering of Common Stock and Full Exercise by Underwriters of Option to Purchase Additional Shares

Rhea-AI Summary

Dyne Therapeutics (NASDAQ:DYN), a clinical-stage biotech company focused on neuromuscular diseases, has successfully completed its previously announced public offering of common stock. The company sold 27,878,788 shares at $8.25 per share, including the full exercise of the underwriters' option to purchase additional shares.

The offering generated gross proceeds of approximately $230.0 million before deducting underwriting discounts, commissions, and offering expenses. Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities served as joint book-running managers, with Jones acting as co-manager for the offering.

Positive

• Raised significant capital of $230.0 million through the offering
• Full exercise of underwriters' option indicates strong demand
• Strengthened balance sheet to support clinical-stage pipeline development

Negative

• Potential dilution for existing shareholders due to issuance of 27.9 million new shares

Insights

Biotech Investment Analyst

Dyne secured $230M through stock offering at $8.25/share, substantially strengthening its financial position for advancing neuromuscular disease therapies.

Dyne Therapeutics has successfully closed a $230 million public offering, selling approximately 27.9 million shares at $8.25 per share. This includes the full exercise of the underwriters' option to purchase additional shares, indicating strong investor demand. The capital infusion significantly bolsters Dyne's balance sheet, providing crucial runway for its clinical-stage neuromuscular disease programs.

The pricing at $8.25 per share and the substantial size of this offering are particularly noteworthy for a clinical-stage biotech company. This financing represents a major vote of confidence from institutional investors, with prominent investment banks including Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities managing the transaction.

For a clinical-stage biotech company without marketed products, access to capital is absolutely essential. This offering substantially strengthens Dyne's financial position, likely extending its operational runway by several quarters or potentially years, depending on burn rate. The proceeds will presumably accelerate the development of Dyne's pipeline focused on genetically driven neuromuscular diseases, potentially funding pivotal trials and advancing candidates toward potential regulatory approvals.

While this offering will cause dilution for existing shareholders, the enhanced financial stability and reduced financing risk likely outweigh dilution concerns in the near term. The company now has significantly more resources to pursue value-creating clinical milestones without immediate financing pressure.

WALTHAM, Mass., July 02, 2025 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq:DYN), a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases, today announced the closing of its previously announced underwritten public offering of 27,878,788 shares of its common stock at a public offering price of $8.25 per share, which includes 3,636,363 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the offering. The gross proceeds to Dyne from the offering were approximately $230.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Dyne. All of the shares in the offering were sold by Dyne.

Morgan Stanley, Jefferies, Stifel and Guggenheim Securities acted as joint book-running managers for the offering. Jones acted as co-manager for the offering.

The offering was made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024 and became automatically effective upon filing. The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and may be obtained for free by visiting the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dyne Therapeutics

Dyne Therapeutics is focused on delivering functional improvement for people living with genetically driven neuromuscular diseases. We are developing therapeutics that target muscle and the central nervous system (CNS) to address the root cause of disease. The company is advancing clinical programs for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD), and preclinical programs for facioscapulohumeral muscular dystrophy (FSHD) and Pompe disease.

Contacts:
 
Investors
Mia Tobias
ir@dyne-tx.com
781-317-0353

Media
Stacy Nartker
snartker@dyne-tx.com
781-317-1938

FAQ

How much money did Dyne Therapeutics (DYN) raise in its July 2025 public offering?

Dyne Therapeutics raised approximately $230.0 million in gross proceeds before deducting underwriting discounts, commissions, and offering expenses.

What was the share price for Dyne Therapeutics' public offering in July 2025?

The public offering price was $8.25 per share.

How many shares did Dyne Therapeutics sell in its July 2025 offering?

Dyne Therapeutics sold a total of 27,878,788 shares, which included 3,636,363 shares from the full exercise of the underwriters' option.

Who were the underwriters for Dyne Therapeutics' July 2025 public offering?

Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities acted as joint book-running managers, with Jones as co-manager.

What is Dyne Therapeutics' main business focus?

Dyne Therapeutics is a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases.