Chris Storgard
About Chris Storgard
Chris M. Storgard, M.D., age 59, has served as Chief Medical Officer (CMO) of Design Therapeutics (DSGN) since April 2025. He holds an M.D. and BSc from the University of Saskatchewan and is board‑certified in Rheumatology and Internal Medicine, with over two decades of clinical development leadership across multiple approved products and INDs in oncology, acute care, rare diseases, and gene‑targeted therapeutics . During his early tenure, DSGN remained pre‑revenue and loss‑making but well‑capitalized, advancing GeneTAC programs in FA and FECD toward clinical milestones .
Company operating context during/after appointment:
| Metric | Q1 2025 | Q3 2025 (as of Sep 30) |
|---|---|---|
| Cash, cash equivalents and investment securities | $229.7M | $206.0M |
| Net loss (period) | $17.7M for the quarter | $53.8M for nine months |
| Product revenue | None (pre‑revenue) | None (pre‑revenue) |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ADARx Pharmaceuticals | Chief Medical Officer | 2024–2025 | Transitioned org from research to development stage; advanced multiple clinical programs and Phase 3 preparations |
| Heron Therapeutics | SVP Clinical Development; then Chief Medical Officer | 2018–2024 | Oversaw teams securing U.S. and EU approvals for products in oncology and acute care |
| Fate Therapeutics | Chief Medical Officer | 2016–2018 | Filed first IND for iPSC‑derived, off‑the‑shelf NK cell product for oncology |
| Ardea Biosciences (AstraZeneca) | VP, Clinical R&D | Not disclosed | Led global clinical program for lesinurad leading to approvals in U.S. and EU |
| Biogen Idec; Amgen | Clinical development roles | Not disclosed | Clinical development leadership roles (details not itemized) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Mayo Clinic | Clinical/academic appointments | Not disclosed | Clinical and academic appointments (titles not itemized) |
| Scripps Mercy Hospital | Clinical/academic appointments | Not disclosed | Clinical and academic appointments (titles not itemized) |
| The Scripps Research Institute | Clinical/academic appointments | Not disclosed | Clinical and academic appointments (titles not itemized) |
Fixed Compensation
- CMO compensation terms (base salary, target bonus, initial equity grant) were not included in the 2025 proxy’s Named Executive Officer tables (covering 2024) and no compensatory terms for Dr. Storgard are detailed there; he is listed among executive officers (appointed April 2025) but not as an NEO for 2024 .
- Company framework: for 2024, NEO bonuses were based on pre‑established corporate goals in R&D, pipeline and operating objectives; CEO target bonus was 60% of salary for 2024; COO target bonus 40% (context for program design; not specific to the CMO) .
Performance Compensation
- The proxy discloses DSGN’s annual incentive framework (R&D/pipeline/operating goals) for 2024 NEOs, but provides no specific 2025 performance metrics or weightings for Dr. Storgard’s CMO package .
- DSGN maintains a Dodd‑Frank‑compliant clawback policy for incentive and equity compensation .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership at appointment | Form 3 (event date 04/16/2025; filed 05/23/2025) states “No securities are beneficially owned.” |
| Derivative securities | None reported on Form 3 |
| Hedging/shorting/pledging | Company policy prohibits placing stock in margin accounts, pledging DSGN shares, trading options on DSGN, short sales, and hedging transactions |
| Clawback | Dodd‑Frank‑compliant clawback policy implemented, in addition to SOX 304 provisions |
Implications:
- Near‑term insider selling pressure is low absent reported holdings; monitor for initial equity grants via subsequent Form 4s .
- Hedging/pledging prohibitions reduce alignment risk from leveraged or hedged positions .
Employment Terms
| Term | Detail |
|---|---|
| Role/start date | Chief Medical Officer since April 2025 |
| Indemnification | DSGN utilizes a standard indemnification agreement for directors and officers (example cited for a director appointment; standard form filed as 10‑K exhibit) |
| Severance / CIC | No CMO‑specific severance or change‑in‑control terms disclosed in the 2025 proxy. CEO terms (for context): 12 months salary and COBRA for certain terminations and an excise tax gross‑up in connection with a change in control (CEO‑specific; not stated for other officers) |
Performance & Track Record
- Appointment rationale: brings multi‑asset development and regulatory approval experience; expected to strengthen clinical and regulatory execution across FA and FECD programs .
- Company operating backdrop: pre‑revenue with net losses but substantial liquidity ($229.7M cash/securities at 3/31/25; $206.0M at 9/30/25) while advancing toward FA MAD initiation and FECD Phase 2 biomarker trial plans .
Compensation Committee Analysis
- Committee leadership change: on Sept 9, 2025 the Board appointed Justin Gover as a director and chair of the Compensation Committee, which may shape future executive pay decisions .
- Program governance: Compensation Committee administers executive pay; clawback policy in place; insider trading policy bars hedging/pledging .
Related‑Party Transactions and Risk Indicators
- Related‑party transaction policy exists with Audit Committee oversight; no Storgard‑specific related‑party disclosures identified in company filings reviewed .
- Risk controls: clawback policy and hedging/pledging prohibitions in place .
Investment Implications
- Alignment and selling pressure: Form 3 reported no securities owned at appointment; insider selling pressure should be limited until initial grants vest. Track Form 4s for first equity awards, grant sizes, and vesting cadence to assess future supply overhang .
- Retention and incentives: With no CMO‑specific severance/CIC terms publicly disclosed yet, retention hinges on equity grant design. Large time‑based RSUs could raise medium‑term selling pressure; option‑heavy or PSU structures tied to clinical milestones/TSR would better align outcomes. Monitor the next proxy and any 8‑K Item 5.02 for CMO arrangements .
- Governance and risk: Prohibitions on hedging/pledging and a Dodd‑Frank clawback reduce misalignment risk and potential windfalls; the Compensation Committee leadership change in Sept 2025 is a catalyst for potential shifts in plan design and benchmarking .
- Operating backdrop: Pre‑revenue status and continued losses heighten execution risk; cash runway remains significant, making milestone‑linked equity design practical for reinforcing performance orientation .