Piper Sandler lowered the firm’s price target on Dyne Therapeutics (DYN) to $48 from $53 following ATM dilution, while keeping an Overweight rating on the shares. Dyne ended 2024 with cash of $642.3M and subsequently issued 10.66M ATM shares raising $140.6M, bringing pro forma cash to about $783M to fund operations at least into the second half of 2026, the firm notes. Dyne expects to complete enrollment of 32 DMD51 boys to 20mg/kg q4W DYNE-251 in the registrational DELIVER cohort this quarter with 6-month dystrophin expression data by year-end 2025 and potential accelerated approval in the second half of 2026. Piper anticipates Dyne could launch two best-in-class medicines by 2027.
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Read More on DYN:
- Buy Rating for Dyne Therapeutics: Promising Accelerated Approval Potential for DYNE-101 and DYNE-251
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