Dianthus Therapeutics, Inc. is registering up to $600,000,000 of securities that it may offer over time. The shelf registration covers common stock, preferred stock, debt securities, warrants and units, which can be issued in one or more offerings with terms set in future prospectus supplements.
Dianthus is a clinical-stage biotechnology company developing next-generation therapies for severe autoimmune diseases, led by its monoclonal antibody candidate claseprubart, designed to target the active form of the C1s complement protein. The company’s common stock trades on The Nasdaq Capital Market under the symbol “DNTH,” and the last reported sale price on January 27, 2026 was $50.31 per share.
The company expects to use net proceeds from any future sales primarily to fund preclinical and clinical development, working capital and general corporate purposes, and potentially to license, acquire or invest in additional product candidates.
Dianthus Therapeutics, Inc. filed a current report describing preliminary year-end liquidity. The company’s audited financial statements for the year ended December 31, 2025 are not yet available, but it expects to report approximately $514 million in cash, cash equivalents, and short-term investments as of December 31, 2025. This estimate is preliminary, unaudited, and subject to completion of year-end closing procedures, so actual results may differ materially.
The cash information is being shared in an investor presentation furnished as an exhibit, which will be used in meetings beginning January 12, 2026. The same presentation will also be used when President and CEO Marino Garcia speaks at the 44th Annual J.P. Morgan Healthcare Conference. The company notes that the presentation includes forward-looking statements and provides related cautionary language.
Dianthus Therapeutics (DNTH) reported Q3 2025 results. Revenue was $396 thousand from licensing. Research and development expense rose to $32.5 million and general and administrative expense was $8.2 million, driving a net loss of $36.8 million, or $0.97 per share.
The balance sheet strengthened following a September underwritten offering. Cash and cash equivalents were $55.984 million, with short‑term investments of $346.629 million and long‑term investments of $152.874 million. Total assets reached $577.4 million against total liabilities of $31.0 million, resulting in stockholders’ equity of $546.5 million.
In September, the company sold 7,627,879 shares at $33.00 and issued pre‑funded warrants for 1,112,121 shares at $32.999, for gross proceeds of $288.4 million, to fund development, working capital and general corporate purposes. The ATM program remains available with $160.8 million of capacity. Shares outstanding were 42,876,015 as of November 3, 2025. Management states existing cash, cash equivalents and investments are expected to fund obligations for at least twelve months beyond the financials’ issuance date.
Dianthus Therapeutics filed an 8-K stating it furnished a press release with financial results for the quarter ended September 30, 2025. The release is attached as Exhibit 99.1. The information is furnished under Item 2.02 and is not deemed filed under Section 18, nor incorporated by reference except if specifically referenced.
Dianthus Therapeutics (DNTH) filed an 8-K to announce it has posted an updated corporate presentation on its investor relations website. The presentation is furnished as Exhibit 99.1 and is incorporated by reference.
The company notes the presentation contains forward-looking statements and includes cautionary language directing readers to related risk considerations. This is an informational update and does not disclose transaction terms or financial results.
Dianthus Therapeutics entered a License and Collaboration Agreement with Nanjing Leads Biolabs, securing exclusive rights outside Greater China to develop and commercialize DNTH212 (LBL-047), an investigational bifunctional fusion protein that targets pDC BDCA2 to reduce Type 1 interferon while inhibiting BAFF/APRIL to suppress B-cell function.
Consideration includes up to $38 million, comprised of $30 million in upfront and near‑term milestone payments and an additional $8 million milestone payable at the initiation of a Dianthus‑led Phase 1 study, at the company’s election in cash or stock. Leads may earn up to $962 million in development, regulatory, and sales milestones across five indications, plus tiered royalties from mid‑single digits up to low double‑digit on ex‑Greater China net sales.
A joint steering committee will oversee DNTH212; Leads can participate in global studies and enroll patients in Greater China and will cover certain related costs. The parties agreed to non‑competition outside Greater China. Dianthus reported approximately $555 million in cash, cash equivalents, and investments as of September 30, 2025, and $525 million pro forma after deducting near‑term and upfront payments.
Marino Garcia, who serves as CEO and President and a director of Dianthus Therapeutics, Inc. (DNTH), was awarded a stock option on 09/30/2025 to purchase 120,000 shares of the company's common stock at an exercise price of $39.35 per share. The option is exercisable through 09/30/2035 and will vest in equal monthly installments over the four years following the grant, subject to the reporting person’s continued service. After the grant the reporting person beneficially owns 120,000 shares underlying the option on a direct basis.
Ryan Savitz, Chief Financial Officer and Chief Business Officer of Dianthus Therapeutics, Inc. (DNTH), was granted a stock option on September 23, 2025 to purchase 60,000 shares of common stock at an exercise price of $37.87 per share. The option vests in equal monthly installments over four years beginning on the grant date and expires on September 23, 2035. The reporting on Form 4 was signed by an attorney-in-fact on September 25, 2025. The award is reported as a direct beneficial ownership of 60,000 underlying shares immediately following the transaction.
Dianthus Therapeutics insider grant: Simrat Randhawa, Chief Medical Officer of Dianthus Therapeutics (DNTH), was granted a stock option on 09/23/2025 to purchase 60,000 shares of common stock. The option has an exercise/conversion price of $37.87 per share and an exercise/expiration date of 09/23/2035. The award vests in equal monthly installments over four years starting 09/23/2025, subject to continued service. The filing reports the holdings as 60,000 shares held directly following the transaction and is signed on behalf of the reporting person by an attorney-in-fact.
Fairmount Funds Management and affiliated entities reported beneficial voting and dispositive power over 4,052,052 shares of Dianthus Therapeutics, Inc. (DNTH), representing 9.9% of the outstanding common stock based on 40,561,085 shares as of September 11, 2025. The position includes 3,307,191 shares of common stock and pre-funded warrants exercisable for up to 744,861 shares subject to a 9.99% beneficial ownership limitation. On September 11, 2025, Fairmount Healthcare Fund II L.P. purchased 600,000 shares in the company’s underwritten public offering at $33.00 per share for aggregate consideration of $19,800,000. Tomas Kiselak resigned from the Board on March 4, 2025, and the Reporting Persons state they currently have no present plans to effect corporate actions, while reserving the right to review or change that position in the future.