Design Therapeutics Q3 net loss beats estimates; sees DT-216P2 data in Q1

Overview

• U.S. biotech's Q3 net loss widened yr/yr but was smaller than analyst expectations

• Operating expenses increased year-over-year

• Company ended Q3 with $208.6 mln in cash and securities

Outlook

• Company expects to update DT-216P2 registrational plans in Q4 2026

• 12-week RESTORE-FA data for DT-216P2 expected in Q1 2027

• Company anticipates reporting Phase 1 DT-818 data for DM1 in 2027

Result Drivers

• R&D SPENDING - Higher R&D expenses as company advanced clinical programs, including ongoing trials for DT-216P2, DT-818 and DT-168

• G&A COSTS - Increased general and administrative expenses contributed to overall operating expense growth

• OTHER INCOME - Other income declined to $1.9 mln from $2.3 mln, adding to the wider net loss

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Design Therapeutics, Inc. is $21.00, about 103.1% above its November 3 closing price of $10.34

Reuters Recommended Reads

• Nov 3 - Beam Therapeutics posts wider than expected Q3 net loss as revenue drops

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• Nov 3 - Ultragenyx Q3 revenue rises, net loss narrows

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)