The company exhibits zero revenue generation while operating losses have widened to $19.7 million in 2026Q1, driven by R&D expenditures that have escalated to $14.4 million per quarter.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 834 |
| Revenue Growth % | - | - | - | - | - | - | -100% | - |
| Cost of Goods Sold | 0 | 622K | 596K | 537K | 466K | 0 | 5K | 1.65K |
| COGS % of Revenue | - | - | - | - | - | - | - | 198.32% |
| Gross Profit | 0 | -622K | -596K | -537K | -466K | 0 | -5K | -820 |
| Gross Margin % | - | - | - | - | - | - | - | -98.32% |
| Gross Profit Growth % | - | -4.36% | -10.99% | -15.24% | - | 100% | -509.76% | - |
| Operating Expenses | 78.75M | 78.84M | 61.79M | 77.65M | 67.13M | 35.83M | 8.55M | 1.91M |
| OpEx % of Revenue | - | - | - | - | - | - | - | 228776.98% |
| Selling, General & Admin | 20.62M | 20.34M | 18.03M | 21.13M | 18.98M | 11.05M | 2.5M | 1.09M |
| SG&A % of Revenue | - | - | - | - | - | - | - | 130455.64% |
| Research & Development | 58.13M | 59.13M | 44.35M | 57.06M | 48.61M | 24.78M | 6.06M | 1.65M |
| R&D % of Revenue | - | - | - | - | - | - | - | 198321.34% |
| Other Operating Expenses | -152K | -622K | -596K | -537K | -466K | 0 | 0 | -834K |
| Operating Income | -78.75M | -79.47M | -62.38M | -78.19M | -67.59M | -35.83M | -8.56M | -1.91M |
| Operating Margin % | - | - | - | - | - | - | - | -228776.98% |
| Operating Income Growth % | - | -27.39% | 20.22% | -15.68% | -88.64% | -318.78% | -348.43% | - |
| EBITDA | -78.29M | -78.84M | -61.79M | -77.65M | -67.13M | -35.7M | -8.55M | 0 |
| EBITDA Margin % | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -15.49% | -27.61% | 20.43% | -15.68% | -88.02% | -317.52% | - | - |
| D&A (Non-Cash Add-back) | 463K | 622K | 596K | 537K | 466K | 129K | 5K | 1.91M |
| EBIT | -54.25M | -79.47M | -49.59M | -66.86M | -63.31M | -35.83M | -8.28M | -2.05M |
| Net Interest Income | 6.97M | 9.68M | 12.79M | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 9.04M | 9.68M | 12.79M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 9.04M | 9.68M | 12.79M | 11.33M | 4.29M | 298K | 276K | -139K |
| Pretax Income | -69.71M | -69.79M | -49.59M | -66.86M | -63.31M | -35.53M | -8.28M | -2.05M |
| Pretax Margin % | - | - | - | - | - | - | - | -245443.65% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -69.71M | -69.79M | -49.59M | -66.86M | -63.31M | -35.53M | -8.28M | -2.05M |
| Net Margin % | - | - | - | - | - | - | - | -245443.65% |
| Net Income Growth % | -24.05% | -40.74% | 25.84% | -5.61% | -78.17% | -329.14% | -304.49% | - |
| Net Income (Continuing) | -69.71M | -69.79M | -49.59M | -66.86M | -63.31M | -35.53M | -8.28M | -2.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.13 | -1.22 | -0.88 | -1.19 | -1.14 | -0.77 | -0.30 | -0.08 |
| EPS Growth % | -21.21% | -38.64% | 26.05% | -4.39% | -48.05% | -156.67% | -298.41% | - |
| EPS (Basic) | - | -1.22 | -0.88 | -1.19 | -1.14 | -0.77 | -0.30 | -0.08 |
| Diluted Shares Outstanding | 61.43M | 57.33M | 56.59M | 55.98M | 55.71M | 45.94M | 27.19M | 27.19M |
| Basic Shares Outstanding | 61.43M | 57.33M | 56.59M | 55.98M | 55.71M | 45.94M | 27.19M | 27.19M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Critical liquidity and runway
As reported in the company's income statement, R&D expenses have trended upward from $11.0 million in 2023Q4 to $14.4 million by 2026Q1, reflecting the intensive capital requirements necessary to advance the GeneTAC platform through increasingly complex clinical trial phases and regulatory compliance hurdles.
The consistent rise in R&D spending suggests that the company is prioritizing clinical development over cost containment, which is typical for a pre-revenue biotech. However, investors should monitor whether these expenditures are yielding proportional progress in target engagement, as the current trajectory indicates a deepening reliance on external financing.
Based on the provided financial data, Design Therapeutics consistently records quarterly stock-based compensation expenses ranging between $2.7 million and $4.0 million, which effectively obscures the true cash-based operational deficit and complicates the assessment of the company's underlying burn rate for specialized scientific talent.
While stock-based compensation is a standard tool for talent retention in the biotech sector, its magnitude relative to the net loss suggests that a significant portion of the company's operating expenses is non-cash. Analysts should adjust for these items to better understand the actual cash depletion rate, which appears to be accelerating as clinical activities intensify.
According to the income statement history, the company's operating losses have widened from $15.1 million in 2023Q4 to $19.7 million in 2026Q1, demonstrating that SG&A and R&D costs are scaling faster than any potential revenue-generating activities, which currently remain at zero.
The lack of operating leverage is expected for a firm in the preclinical or early clinical stage, but the widening gap between expenses and revenue highlights the company's total dependence on capital markets. Without a commercial product, the firm remains highly vulnerable to any contraction in the biotech funding environment.
With a reported cash position of $16,856,000 and quarterly operating losses consistently exceeding $15 million, the company's financial statements suggest a precarious liquidity position that may necessitate immediate and potentially dilutive capital raises to sustain ongoing clinical operations through the next fiscal year.
Short-sellers would likely focus on the discrepancy between the company's ambitious clinical pipeline and its limited cash reserves. This liquidity constraint warrants investigation into whether the firm can maintain its current development timeline without compromising the integrity of its clinical programs due to funding shortages.
Quick answers to the most common questions about buying DSGN stock.
For fiscal year 2025, Design Therapeutics, Inc. (DSGN) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.0M in 2019.
Design Therapeutics, Inc. (DSGN) reported a net loss of $69.8M for the fiscal year ending 2025.