The firm's financial position is increasingly fragile, with total assets contracting to $230.4 million and net PPE representing only $3.4 million of the total resource base as of 2026Q1.
| Total Current Assets | 227.05M | 223.78M | 248.04M | 284.58M | 335.12M | 385.44M | 36.23M | 90K |
| Cash & Short-Term Investments | 222.82M | 219.84M | 245.48M | 281.8M | 330.39M | 384.06M | 36.09M | 77K |
| Cash Only | 12.77M | 16.86M | 22.56M | 21.2M | 26.5M | 298.57M | 2.38M | 77K |
| Short-Term Investments | 210.05M | 202.99M | 222.91M | 260.6M | 303.89M | 85.5M | 33.71M | 0 |
| Accounts Receivable | 1.82M | 1.68M | 1.26M | 1.43M | 1.11M | 110K | 10K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 25K | 8K |
| Total Non-Current Assets | 3.39M | 2.42M | 4.05M | 5.06M | 6.02M | 5.12M | 283K | 0 |
| Property, Plant & Equipment | 3.39M | 2.42M | 3.63M | 4.63M | 5.56M | 5.12M | 71K | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 427K | 430K | 459K | 0 | 212K | 0 |
| Total Assets | 230.44M | 226.2M | 252.09M | 289.64M | 341.14M | 390.56M | 36.52M | 90K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | 0.01x |
| Asset Growth % | -49.61% | -10.27% | -12.96% | -15.09% | -12.65% | 969.55% | 40473.33% | - |
| Total Current Liabilities | 10.19M | 13.05M | 8.46M | 9.62M | 10.78M | 5.28M | 2.33M | 3.73M |
| Accounts Payable | 2.28M | 2.31M | 2.19M | 1.94M | 3.02M | 1.62M | 1.4M | 2.48M |
| Days Payables Outstanding | - | 1.36K | 1.34K | 1.32K | 2.37K | - | 102.13K | 547.06K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 695K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 201K |
| Other Current Liabilities | 2.33M | 10.74M | 0 | 4.03M | 3.54M | 2.15M | 565K | 112K |
| Current Ratio | 22.28x | 17.14x | 29.31x | 29.58x | 31.10x | 72.96x | 15.55x | 0.02x |
| Quick Ratio | 22.28x | 17.14x | 29.31x | 29.58x | 31.10x | 72.96x | 15.55x | 0.02x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.2M | 645K | 1.53M | 2.33M | 3.05M | 3.14M | 45.5M | 1K |
| Long-Term Debt | 0 | 645K | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 4.82M | 0 | 1.53M | 2.33M | 3.05M | 3.14M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 45.5M | 1K |
| Total Liabilities | 12.39M | 13.7M | 10M | 11.96M | 13.83M | 8.43M | 47.83M | 3.73M |
| Total Debt | 2.73M | 645K | 2.33M | 3.05M | 3.69M | 3.63M | 0 | 695K |
| Net Debt | -10.04M | -16.21M | -20.23M | -18.15M | -22.81M | -294.94M | -2.38M | 618K |
| Debt / Equity | 0.01x | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.13x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | 218.05M | 212.5M | 242.1M | 277.69M | 327.31M | 382.13M | -11.31M | -3.64M |
| Equity Growth % | -55.89% | -12.22% | -12.82% | -15.16% | -14.35% | 3477.2% | -210.68% | - |
| Book Value per Share | 3.55 | 3.71 | 4.28 | 4.96 | 5.88 | 8.32 | -0.42 | -0.13 |
| Total Shareholders' Equity | 218.05M | 212.5M | 242.1M | 277.69M | 327.31M | 382.13M | -11.31M | -3.64M |
| Common Stock | 6K | 6K | 6K | 6K | 6K | 6K | 1K | 1K |
| Retained Earnings | -314.64M | -297.01M | -227.21M | -177.63M | -110.76M | -47.46M | -11.92M | -3.64M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | -451K | 0 |
| Accumulated OCI | -268K | 403K | 475K | 62K | -3.36M | -244K | 156K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and runway
As reported in financial statements, Design Therapeutics has seen total assets decline from $289.6 million in 2023Q4 to $230.4 million by 2026Q1, signaling a persistent contraction in the company's resource base as it funds clinical development without any offsetting revenue streams to replenish its capital reserves.
The consistent downward trend in total assets, coupled with the widening deficit in retained earnings, suggests that the company is consuming its equity base at an unsustainable rate. Investors should monitor whether this trajectory forces a shift toward more dilutive financing options, as the current pace of asset depletion appears to outstrip the company's ability to maintain its long-term research objectives.
Based on the most recent quarterly filings, the company's cash position has plummeted to $16.856 million, a significant reduction from the $45.7 million reported in 2024Q2, which indicates that the firm's liquidity buffer is rapidly approaching a critical threshold that may limit future clinical trial flexibility.
While the current ratio remains mathematically high due to low current liabilities, this metric is misleading for a pre-revenue biotech where cash is the only meaningful liquid asset. The rapid decline in cash reserves suggests that the company's runway is likely measured in months rather than years, necessitating a potential capital raise in the near term.
According to historical balance sheet data, retained earnings have deteriorated significantly to -$314.6 million as of 2026Q1, reflecting the cumulative impact of sustained operational losses and the ongoing reliance on equity financing to support the company's high-cost R&D platform.
The erosion of equity through persistent net losses highlights the high-risk nature of the company's current business model. The reliance on equity to fund operations suggests that shareholders are bearing the full burden of the company's clinical development risks, with little evidence of value creation through retained earnings or operational efficiency.
As indicated by the provided financial data, the company's asset base is almost entirely devoid of tangible productive assets, with net PPE falling to $3.4 million in 2026Q1, which suggests that the firm's value is tied exclusively to intangible intellectual property that remains unproven in late-stage clinical settings.
The lack of significant tangible assets means that in a downside scenario, there is virtually no recovery value for investors. This concentration of value in intangible assets makes the company's valuation highly sensitive to clinical trial outcomes, as any failure in the GeneTAC platform would likely result in a near-total impairment of the company's primary asset base.
Quick answers to the most common questions about buying DSGN stock.
As of 2025, Design Therapeutics, Inc. (DSGN) had total assets of $226.2M including $223.8M in current assets.
Design Therapeutics, Inc. (DSGN) carries total debt of $0.6M, offset by $219.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Design Therapeutics, Inc. (DSGN) has total shareholders' equity (book value) of $212.5M ($3.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Design Therapeutics, Inc. (DSGN) reported a current ratio of 17.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.