Dianthus Therapeutics, Inc. files its annual report describing a clinical-stage pipeline focused on severe autoimmune diseases and complement biology. The company’s market value held by non-affiliates was $599.4 million based on its common stock closing price on June 30, 2025, with 44,471,094 shares outstanding as of March 4, 2026.
Dianthus’ lead antibody, claseprubart, targets active C1s in the classical complement pathway and is being tested in mid‑ to late‑stage trials in generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy and multifocal motor neuropathy. A Phase 2 gMG study showed statistically significant and clinically meaningful improvements versus placebo on multiple endpoints with a safety profile comparable to placebo.
The company is advancing a planned global Phase 3 gMG trial, a pivotal Phase 3 CIDP trial that met an early responder target, and a Phase 2 MMN trial. Dianthus also licensed DNTH212, a bifunctional BDCA2 and BAFF/APRIL inhibitor, for development outside Greater China, with a Phase 1 study underway. The report outlines extensive IP protection, third‑party manufacturing arrangements, regional licensing with Tenacia and Leads, competitive dynamics in gMG, CIDP and MMN, and detailed U.S. and global regulatory frameworks for biologics.
Dianthus Therapeutics reported a larger 2025 net loss while advancing its autoimmune pipeline and securing an early positive signal in its key CIDP program.
For the year ended December 31, 2025, the company posted a net loss of $162.3 million, or $4.20 per share, driven mainly by higher research and development spending of $145.6 million and general and administrative expenses of $34.3 million. Cash, cash equivalents and investments totaled $514.4 million, which the company expects to fund operations into 2028.
Dianthus announced an early GO decision in its Phase 3 CAPTIVATE trial of claseprubart in CIDP after achieving 20 confirmed responders with fewer than 40 participants completing Part A, with no related serious infections or serious adverse events reported. The company plans to streamline Part B to 128 randomized patients and expects Part B top-line guidance by year-end 2026. It also plans a Phase 3 trial in generalized myasthenia gravis starting mid-2026, a Phase 2 readout in multifocal motor neuropathy in the second half of 2026, and Phase 1 healthy volunteer data for DNTH212 in the second half of 2026.
Point72 Asset Management, Point72 Capital Advisors, and Steven A. Cohen report beneficial ownership of 2,981,674 shares of Dianthus Therapeutics common stock, representing 6.9% of the outstanding class as of the close of business on February 13, 2026.
The shares are held by Point72 Associates, LLC, an investment fund managed by Point72 Asset Management, with shared voting and dispositive power reported for each filing person. As of December 31, 2025, they had reported beneficial ownership of 1,166,088 shares, or 2.7% of the class. They certify the position is held on a passive basis and not for the purpose of changing or influencing control of Dianthus Therapeutics.
RA Capital Management and affiliates reported beneficial ownership of 2,611,733 shares of Dianthus Therapeutics, Inc. common stock, representing 6.0% of the class as of December 31, 2025. This includes 1,611,733 shares of common stock and pre-funded warrants exercisable for up to 1,000,000 additional shares.
The stake is held through RA Capital Healthcare Fund, L.P., for which RA Capital serves as investment adviser with delegated voting and dispositive power. The filers state the securities were not acquired to change or influence control of Dianthus and expressly disclaim status as a "group" and certain aspects of beneficial ownership beyond Section 13(d) reporting.
Dianthus Therapeutics reported a new equity award to its chief accounting officer, Edward Carr. On February 3, 2026, he received a stock option for 55,000 shares of common stock with an exercise price of $52.46 per share, expiring on February 3, 2036.
The option vests in equal monthly installments over four years after January 1, 2026, as long as he continues to serve the company on each vesting date. This filing reflects routine equity-based compensation rather than an open-market share purchase or sale.
Dianthus Therapeutics granted its SVP, General Counsel and Secretary, Adam Veness, a stock option for 100,000 shares of common stock on February 3, 2026. The option has an exercise price of $52.46 per share and was reported as directly owned.
The underlying common shares will vest in equal monthly installments over four years after January 1, 2026, as long as Veness continues serving the company on each vesting date. Following this award, he beneficially owned 100,000 derivative securities linked to Dianthus common stock.
Dianthus Therapeutics executive Simrat Randhawa, EVP and Head of R&D, reported a grant of stock options. On February 3, 2026, Randhawa received 150,000 stock options with an exercise price of $52.46 per share, all held directly.
The options relate to Dianthus common stock and begin vesting from January 1, 2026. They vest in equal monthly installments over four years, conditioned on Randhawa’s continued service with the company on each vesting date, and expire on February 3, 2036.
Dianthus Therapeutics reported a new equity award to its EVP, CFO & CBO, Ryan Savitz. On February 3, 2026, he received a stock option covering 150,000 shares of common stock with an exercise price of $52.46 per share and no cost at grant.
The option expires on February 3, 2036 and the underlying shares will vest in equal monthly installments over four years after January 1, 2026, as long as he continues serving the company on each vesting date. All 150,000 derivative securities are reported as directly owned following the transaction.
Dianthus Therapeutics CEO and President Marino Garcia reported a stock option grant. On February 3, 2026, he was awarded a Stock Option (Right to Buy) covering 355,000 shares of common stock at an exercise price of $52.46 per share.
The option was granted at no cost as a derivative security and is held directly. The underlying 355,000 shares will vest in equal monthly installments over four years after January 1, 2026, contingent on his continued service with Dianthus Therapeutics, Inc.