Design Therapeutics, Inc.
DSGNHealthcare|Biotechnology|US
$10.21
+0.54 (+5.58%)
DCF Value
$0.26
Tangible Book / Share
$3.21
Cash / Share
$3.31
Financials
Financial Snapshot
Market Cap
$639.0M
Enterprise Value
$626.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$74.1M
Cash & Investments
$208.6M
Net Cash
$206.1M
Free Cash Flow (TTM)
-$59.4M
Operating CF (TTM)
-$59.3M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$208.6M
Quarterly Burn
$14.8M
Monthly Burn
$4.9M
Est. Runway
~14.1 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $77.0K | $36.1M | $384.1M | $330.4M | $281.8M | $245.5M | $219.8M | $208.6M | |
| Operating Cash Flow | -$139.0K | -$8.7M | -$29.4M | -$51.3M | -$58.6M | -$43.1M | -$54.4M | -$59.3M | |
| Free Cash Flow | -$139.0K | -$8.7M | -$30.9M | -$52.2M | -$58.8M | -$43.4M | -$54.6M | -$59.4M | |
| Capital Expenditure | $0.00 | -$76.0K | -$1.5M | -$918.0K | -$256.0K | -$340.0K | -$193.0K | -$70.0K | |
| Financing Cash Flow | $196.0K | $44.5M | $379.2M | $235.0K | $724.0K | $513.0K | $25.7M | $63.4M |
R&D Spending
R&D (TTM)
$61.1M
R&D Intensity
—
R&D Growth vs Prior
+3.4%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $834.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $1.7M | $6.1M | $24.8M | $48.6M | $57.1M | $44.4M | $59.1M | $61.1M | |
| R&D % of Revenue | 198321.3% | — | — | — | — | — | — | — | |
| SG&A | $1.1M | $2.5M | $11.1M | $19.0M | $21.1M | $18.0M | $20.3M | $21.2M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $834.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $1.7K | $5.0K | $0.00 | $466.0K | $537.0K | $0.00 | $0.00 | $0.00 | |
| Gross Profit | -$820.00 | -$5.0K | $0.00 | -$466.0K | -$537.0K | $0.00 | $0.00 | $0.00 | |
| R&D | $1.7M | $6.1M | $24.8M | $48.6M | $57.1M | $44.4M | $59.1M | $61.1M | |
| SG&A | $1.1M | $2.5M | $11.1M | $19.0M | $21.1M | $18.0M | $20.3M | $21.2M | |
| Operating Income | -$1.9M | -$8.6M | -$35.8M | -$67.6M | -$78.2M | -$62.4M | -$79.5M | -$82.3M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$2.0M | -$8.3M | -$35.5M | -$63.3M | -$66.9M | -$49.6M | -$69.8M | -$74.1M | |
| Net Income | -$2.0M | -$8.3M | -$35.5M | -$63.3M | -$66.9M | -$49.6M | -$69.8M | -$74.1M | |
| EPS (Diluted) | -0.08 | -0.30 | -0.77 | -1.14 | -1.19 | -0.88 | -1.22 | -1.20 | |
| EBITDA | -$139.0K | -$8.3M | -$35.4M | -$62.9M | -$66.3M | -$49.0M | -$69.2M | -$77.4M | |
| Shares Out. (M) | 27.19 | 27.19 | 45.94 | 55.71 | 55.98 | 56.59 | 57.33 | 63.04 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $77.0K | $2.4M | $298.6M | $26.5M | $21.2M | $22.6M | $16.9M | $15.3M | |
| Short-Term Investments | $0.00 | $33.7M | $85.5M | $303.9M | $260.6M | $222.9M | $203.0M | $193.4M | |
| Total Current Assets | $90.0K | $36.2M | $385.4M | $335.1M | $284.6M | $248.0M | $223.8M | $214.0M | |
| Total Assets | $90.0K | $36.5M | $390.6M | $341.1M | $289.6M | $252.1M | $226.2M | $216.8M | |
| Total Current Liabilities | $3.7M | $2.3M | $5.3M | $10.8M | $9.6M | $8.5M | $13.1M | $12.8M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $645.0K | $0.00 | |
| Total Liabilities | $3.7M | $47.8M | $8.4M | $13.8M | $12.0M | $10.0M | $13.7M | $14.6M | |
| Stockholders' Equity | -$3.6M | -$11.3M | $382.1M | $327.3M | $277.7M | $242.1M | $212.5M | $202.2M | |
| Retained Earnings | -$3.6M | -$11.9M | -$47.5M | -$110.8M | -$177.6M | -$227.2M | -$297.0M | -$355.1M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$139.0K | -$8.7M | -$29.4M | -$51.3M | -$58.6M | -$43.1M | -$54.4M | -$59.3M | |
| Capital Expenditure | $0.00 | -$76.0K | -$1.5M | -$918.0K | -$256.0K | -$340.0K | -$193.0K | -$70.0K | |
| Free Cash Flow | -$139.0K | -$8.7M | -$30.9M | -$52.2M | -$58.8M | -$43.4M | -$54.6M | -$59.4M | |
| Investing Cash Flow | $0.00 | -$33.6M | -$53.6M | -$221.0M | $52.5M | $44.0M | $22.9M | -$3.9M | |
| Financing Cash Flow | $196.0K | $44.5M | $379.2M | $235.0K | $724.0K | $513.0K | $25.7M | $63.4M | |
| Issuance of Stock | $0.00 | $0.00 | $254.3M | $662.0K | $724.0K | $513.0K | $25.7M | $63.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $196.0K | -$200.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $450.0K | $4.7M | $10.9M | $13.1M | $13.1M | $14.5M | $15.3M | |
| Net Change in Cash | $57.0K | $2.3M | $296.2M | -$272.1M | -$5.3M | $1.4M | -$5.7M | $164.0K |
Dilution Tracker
Shares outstanding grew 110.9% over 5 years — significant dilution
Shares Outstanding
63M
5-Year Share Growth
+110.9%
Stock Issuance (TTM)
$63.4M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 27.19 | 27.19 | 45.94 | 55.71 | 55.98 | 56.59 | 57.33 | 63.04 | |
| Change vs Prior % | — | 0.0% | 69.0% | 21.3% | 0.5% | 1.1% | 1.3% | 10.0% | |
| Stock Issuance | $0.00 | $0.00 | $254.3M | $662.0K | $724.0K | $513.0K | $25.7M | $63.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $450.0K | $4.7M | $10.9M | $13.1M | $13.1M | $14.5M | $15.3M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -98.3% | — | — | — | — | — | — | — | |
| Operating Margin % | -228777.0% | — | — | — | — | — | — | — | |
| Net Margin % | -245443.6% | — | — | — | — | — | — | — | |
| EBITDA Margin % | -16666.7% | — | — | — | — | — | — | — | |
| FCF Margin % | -16666.7% | — | — | — | — | — | — | — | |
| ROE % | 56.2% | 73.2% | -9.3% | -19.3% | -24.1% | -20.5% | -32.8% | -35.5% | |
| ROA % | -2274.4% | -22.7% | -9.1% | -18.6% | -23.1% | -19.7% | -30.9% | -34.2% | |
| ROIC % | 64.8% | -25.0% | -9.3% | -20.4% | -27.9% | -25.5% | -37.1% | -40.2% | |
| R&D / Revenue % | 198321.3% | — | — | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | -509.8% | 100.0% | 0.0% | -15.2% | 100.0% | 0.0% | |
| Operating Income | 0.0% | -348.4% | -318.8% | -88.6% | -15.7% | 20.2% | -27.4% | |
| Net Income | 0.0% | -304.5% | -329.1% | -78.2% | -5.6% | 25.8% | -40.7% | |
| EPS (Diluted) | 0.0% | -298.4% | -156.7% | -48.1% | -4.4% | 26.1% | -38.6% | |
| Operating Cash Flow | 0.0% | -6136.7% | -238.9% | -74.7% | -14.1% | 26.4% | -26.1% | |
| Free Cash Flow | 0.0% | -6191.4% | -253.5% | -69.0% | -12.6% | 26.1% | -25.6% | |
| R&D Expense | 0.0% | 266.4% | 308.9% | 96.2% | 17.4% | -22.3% | 33.3% | |
| SG&A Expense | 0.0% | 129.4% | 342.8% | 71.7% | 11.3% | -14.6% | 12.8% | |
| Total Assets | 0.0% | 40473.3% | 969.6% | -12.7% | -15.1% | -13.0% | -10.3% | |
| Book Value / Share | 0.0% | -210.7% | 2098.8% | -29.4% | -15.6% | -13.7% | -13.4% | |
| Debt | 0.0% | -100.0% | 0.0% | 1.6% | -17.4% | -23.5% | -34.2% | |
| Diluted Shares | 0.0% | 0.0% | 69.0% | 21.3% | 0.5% | 1.1% | 1.3% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B3.18
10Y Low / Med / High0.53 / 1.75 / 2.57
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.26
Tangible Book / Share
$3.21
Net Current Assets / Share
$3.19
Graham Net-Net
$3.10
Cash / Share
$3.31
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -551.00 | -138.30 | -27.81 | -9.00 | -2.23 | -7.01 | -7.69 | -8.51 | |
| P/S Ratio | 1352653.60 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -309.75 | -99.70 | 2.57 | 1.75 | 0.53 | 1.44 | 2.53 | 3.18 | |
| EV/EBITDA | -8120.37 | -136.04 | -19.45 | -8.72 | -1.96 | -6.71 | -7.55 | -8.09 | |
| EV/Revenue | 1353394.60 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
23.87
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $117.3M | $204.8M | $6.2M |
| Net Income | -$85.3M | -$86.3M | -$103.1M |
| EPS | $-1.30 | $-1.53 | $-1.85 |
| # Analysts (EPS) | 6 | 6 | 7 |