Vestal Point Reports 3.2M Shares (9.95%) in Dianthus Therapeutics

Vestal Point Capital, LP and Ryan Wilder report beneficial ownership of 3,200,000 shares of Dianthus Therapeutics common stock, representing 9.95% of the outstanding class.

Rhea-AI Filing Summary

Vestal Point Capital, LP and Ryan Wilder report beneficial ownership of 3,200,000 shares of Dianthus Therapeutics common stock, representing 9.95% of the outstanding class. The stake is held by a Vestal Point fund and managed account for which Vestal Point acts as investment manager; Mr. Wilder is identified as the investment manager's Chief Investment Officer and Managing Partner and reports shared voting and dispositive power over the shares. The percent calculation is based on 32,159,982 shares outstanding as of the company report for the quarter ended March 31, 2025. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• Material disclosure of ownership: Reporting persons openly disclose a 9.95% stake (3,200,000 shares) which informs investors of a significant holder.
• Clear governance reporting: The filing specifies shared voting and dispositive power and identifies the investment manager and individual responsible for the position.
• Ordinary-course certification: Reporting persons certify the shares were acquired and are held in the ordinary course of business and not to change control.

Negative

• None.

Insights

Financial Analyst

TL;DR: A concentrated ~10% position by an investment manager signals notable stakeholder presence without an asserted intent to seek control.

The filing shows Vestal Point's fund and associated managed account together hold 3,200,000 shares, equal to 9.95% of the 32,159,982-share base used for the calculation. Shared voting and dispositive powers are reported, and the filing includes a certification that the holdings were acquired in the ordinary course of business and not to influence control. For investors, a near-10% holder can affect market liquidity and may warrant monitoring for any future activism or additional filings that change stated intentions.

Corporate Governance Expert

TL;DR: Reporting persons disclose shared control of a material minority stake while disclaiming control-seeking intent.

The statement identifies both the investment manager (Vestal Point Capital, LP) and an individual (Ryan Wilder) with shared voting and dispositive power over the 3.2 million shares. The filing also notes that Vestal Point Master Fund, LP has rights to dividends or sale proceeds exceeding 5% of the class, which is a material ownership note for governance tracking. The explicit certification that the position is not held to influence control is standard but should be interpreted in context with any subsequent disclosures.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Dianthus Therapeutics (DNTH) shares does Vestal Point Capital report owning?

The filing reports 3,200,000 shares, representing 9.95% of the common stock based on 32,159,982 shares outstanding used in the calculation.

Who are the reporting persons in the DNTH Schedule 13G/A?

The reporting persons are Vestal Point Capital, LP (investment manager) and Ryan Wilder (Chief Investment Officer and Managing Partner).

Does the filing state why the shares were acquired?

Yes; the filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

What voting and disposal powers are reported for the 3,200,000 shares?

The filing reports 0 sole voting power and 3,200,000 shared voting power; similarly 0 sole dispositive power and 3,200,000 shared dispositive power.

On what share count is the 9.95% ownership based?

The percentage is calculated using an aggregate of 32,159,982 shares outstanding as reported in the company’s quarterly report for the period ended March 31, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2025 - 03:47 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Dianthus Therapeutics, Inc. /DE/

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

252828108

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 252828108

1

Names of Reporting Persons

Vestal Point Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,200,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,200,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,200,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.95 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 252828108

1

Names of Reporting Persons

Ryan Wilder

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,200,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,200,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,200,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.95 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dianthus Therapeutics, Inc. /DE/
(b)	Address of issuer's principal executive offices: 7 Times Square, 43rd Floor, New York, New York 10036
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to a certain fund and a managed account (the "Vestal Point Fund and Account"), with respect to the shares of common stock, par value $0.001 per share ("Common Stock") of Dianthus Therapeutics, Inc. (the "Company") directly held by the Vestal Point Fund and Account; and (ii) Mr. Ryan Wilder ("Mr. Wilder"), the Chief Investment Officer and Managing Partner of the Investment Manager and the Managing Member of Vestal Point Capital, LLC, the general partner of the Investment Manager, with respect to the shares of Common Stock directly held by the Vestal Point Fund and Account. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 632 Broadway, Suite 602, New York, NY 10012.
(c)	Citizenship: The Investment Manager is a Delaware limited partnership. Mr. Wilder is a citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 252828108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 32,159,982 shares of Common Stock outstanding as of May 7, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the Securities and Exchange Commission on May 12, 2025.
(b)	Percent of class: 9.95%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a). The Vestal Point Fund and Account have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported herein. Vestal Point Master Fund, LP, a Vestal Point Fund, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the shares of Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vestal Point Capital, LP

Signature:	/s/ Ryan Wilder
Name/Title:	By: Vestal Point Capital, LLC, General Partner, By: Ryan Wilder, Chief Investment Officer and Managing Partner
Date:	08/14/2025

Ryan Wilder

Signature:	/s/ Ryan Wilder
Name/Title:	Ryan Wilder, Individually
Date:	08/14/2025