Pulling SEC filings + quote and writing the call…

Design Therapeutics, Inc.
Next earnings Aug 5, 2026 · consensus $-0.35 EPS
Last earnings +0.0% on 2026-04-28
Pre-revenue clinical-stage biotech with one binary Phase 1/2 readout, recent clinical-hold history and ongoing dilution — not investable for most retail.
Design Therapeutics is a pre-revenue, clinical-stage biotech whose entire equity story rides on its GeneTAC platform and, in the near term, a single asset — DT-216P2 in Friedreich ataxia. FY2025 revenue was $0, net income was -$69.8M (worsening from -$49.6M), and operating cash burn ran at -$54.4M while R&D expense jumped +33.3% YoY to $59.1M. Diluted shares outstanding grew 8.6% to 61.7M, signaling that equity issuance is already part of the funding mix. At $14.30 the implied market cap is ~$882M against $213M of book equity and a -$297M accumulated deficit — i.e. the price is paying entirely for an unproven pipeline.
Sources: SEC EDGAR (CIK 0001807120, latest 10-Q filed 2026-04-28) · analysis by claude-code · as of 6/25/2026, 2:49:14 PM.
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The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | $0.00 | $0.00 |
| Gross profit | — | — | — | — | — |
| Operating income | -$35.8M | -$67.6M | -$78.2M | -$62.4M | -$79.5M |
| Net income | -$35.5M | -$63.3M | -$66.9M | -$49.6M | -$69.8M |
| Diluted EPS | -$0.77 | -$1.14 | -$1.19 | -$0.88 | -$1.22 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Annual meeting vote results disclosed; routine governance with no strategic shift.
Other-events disclosure; non-material update outside earnings or governance cycle.
Q1 2026 10-Q: still pre-revenue, cash runway tightening after FY2025 drawdown.
Q1 2026 10-Q: still pre-revenue, cash runway tightening after FY2025 drawdown.
Annual proxy filed; standard director slate and comp ahead of June vote.
Officer/director change announced; leadership turnover adds execution uncertainty.
FY2025: $16.9M cash, -$54M op CF; DT-216P2 hold lifted Dec 2025, RESTORE-FA underway.
FY2025: $16.9M cash, -$54M op CF; DT-216P2 hold lifted Dec 2025, RESTORE-FA underway.
Officer/director change disclosed amid post-clinical-hold reset.
1047 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.