Design Therapeutics (DSGN) Q4 2025 earnings summary

Executive summary

• Advanced three clinical programs: DT-216P2 (Friedreich Ataxia), DT-168 (FECD), and DT-818 (DM1), with key milestones expected in 2026 and 2027.

• Maintained strong cash position to support ongoing clinical execution and pipeline development.

Financial highlights

• R&D expenses were $13.4M for Q4 2025 and $59.1M for the full year 2025.

• G&A expenses totaled $4.7M for Q4 2025 and $20.3M for the year.

• Net loss was $16.0M for Q4 2025 and $69.8M for the year, with a net loss per share of $1.22 for 2025.

• Cash, cash equivalents, and investment securities stood at $219.8M as of December 31, 2025.

Outlook and guidance

• Patient dosing in Phase 1 trial of DT-818 (DM1) expected in H1 2026, with results anticipated in 2027.

• Data from DT-216P2 (FA) and DT-168 (FECD) trials expected in H2 2026.

• Cash runway projected to fund operations into 2029.