Dyne Therapeutics, Inc. (DYN) experienced a significant intraday surge, with its stock price soaring 5.18% during the trading session.

The sharp increase follows the company's announcement over the weekend that it has initiated a Phase 3 clinical study of its drug candidate, zeleciment basivarsen, for the treatment of myotonic dystrophy type 1, a rare genetic neuromuscular disease. Concurrently, Dyne Therapeutics reported positive data from an ongoing Phase 1/2 study of zeleciment rostudirsen for Duchenne muscular dystrophy, demonstrating improvements in patient lung function and heart performance compared to historical decline expectations.