DSGNDesign Therapeutics, Inc.
Pharmaceutical Preparations
- Revenue
- $0
- Operating margin
- —
- EBITDA
- −$79M
- 28% YoY
- Market cap
- $668M
- Employees
- 70,000
- Net debt / EBITDA
- —
- AI in 10-K
- 0.8
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo—Any vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo0.8 per 10K words · 29th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$668M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | |
| Operating income | −$36M | −$68M | −$78M | −$62M | −$79M | 27% |
| Net income | −$36M | −$63M | −$67M | −$50M | −$70M | 41% |
| Operating cash flow | −$29M | −$51M | −$59M | −$43M | −$54M | 26% |
| Capex | $2M | $918K | $256K | $340K | $193K | 43% |
| Stock-based comp | $5M | $11M | $13M | $13M | $15M | 11% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Mar 11, 2026 | SR One Capital Fund I Aggregator LP | SCHEDULE 13D/A | 10.7% | Passive |
| Nov 18, 2025 | Logos Global Management LP | SCHEDULE 13D/A | 17.8% | Passive |
| Nov 12, 2025 | Logos Global Management LP | SCHEDULE 13D/A | 19.3% | Passive |
| Aug 13, 2024 | Logos Global Management LP | SC 13D/A | 27.7% | Passive |
| Dec 22, 2022 | SR One Capital Fund I Aggregator LP | SC 13D/A | 11.7% | Passive |
| Mar 31, 2022 | Logos Global Management LP | SC 13D | 5.0% | Passive |
| Apr 9, 2021 | SR One Capital Fund I Aggregator LP | SC 13D | 10.5% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.