Design Therapeutics: Hold Rating Amid Regulatory Hurdles and Financial CautionWe do note that DSGN received a clinical hold notice in the US for the Phase 1/2 RESTORE-FA study (here), which the company plans to address with clinical data and additional nonclinical data, if needed. The study will continue outside the US, and DSGN began dosing patients in June 2025. We look forward to additional updates, including clarity on when to expect a first look at FA patient data, which could drive investor interest back towards DSGN, if positive. Elsewhere in the pipeline, DSGN has initiated a Phase 2 biomarker study of DT-168 to evaluate safety, tolerability, and corneal endothelium biomarkers in Fuchs endothelial corneal dystrophy (FECD) patients who are scheduled for corneal transplant surgery.