Dyne Therapeutics falls after upsized $375 mln share sale

Dyne Therapeutics

22/07/2026 11:29

** Shares of Dyne Therapeutics  DYN.O  down 9.5% premarket on
Weds to $21.56 after overnight follow-on priced 
** Neuromuscular disease-focused DYN late Tues sold 18.3 mln
shares at $20.50 for approx $375.15 mln gross proceeds
    ** Offering size increased from $300 mln and priced at 14%
discount to stock's last close
    ** Morgan Stanley, Jefferies and Evercore joint bookrunners,
along with LifeSci Capital and Raymond James
** Waltham, Massachusetts-based DYN, which has ~165.3 mln shares
outstanding, expects to use net proceeds to advance its drug
candidate zeleciment rostudirsen for treatment of Duchenne
muscular dystrophy (DMD) and zeleciment basivarsen for myotonic
dystrophy type 1 (DM1), per the prospectus
    ** Through Tues, DYN shares up ~22% YTD
    ** 15 of 16 analysts rate the stock "strong buy" or "buy", 1
"hold"; median PT $40, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))