Massachusetts-based Dyne Therapeutics, Inc. (Nasdaq: DYN) announced the pricing of an upsized public offering of common stock, raising approximately USD 375 million in gross proceeds. The fund-raise arrives as the clinical-stage pharmaceutical company prepares for its first potential commercial launch, with a Biologics License Application for its lead Duchenne muscular dystrophy candidate now under FDA Priority Review.
The USD 375 million transaction consisted of 18,300,000 shares priced at USD 20.50 apiece, all sold directly by the company. It was upsized from an initial target of USD 300 million announced the previous day, a roughly 25% increase reflecting solid investor demand. Underwriters, led by Morgan Stanley, Jefferies and Evercore ISI, with LifeSci Capital and Raymond James also acting as bookrunners, were granted a 30-day option to purchase up to 2,745,000 additional shares, which would push proceeds higher if exercised.
Proceeds are intended primarily to fund commercial preparation for zeleciment rostudirsen (DYNE-251), an exon 51-skipping therapy for Duchenne muscular dystrophy. The FDA accepted the BLA with Priority Review on July 20, setting a PDUFA date of January 21, 2027, while a Phase III confirmatory trial, FORZETTO, remains active following positive topline dystrophin data from the earlier DELIVER cohort. Dyne's second late-stage asset, zeleciment basivarsen (DYNE-101) for myotonic dystrophy type 1, is advancing through the Phase III HARMONIA trial after 12-month data showed sustained splicing correction and functional improvements at the selected registrational dose. Both programs are built on Dyne's FORCE delivery platform, which conjugates antibody fragments to therapeutic oligonucleotides to improve muscle uptake.