Dianthus Therapeutics, Inc. priced an upsized underwritten public offering of 7,313,582 shares of its common stock at $81.00 per share, accompanied by pre‑funded warrants to purchase up to 402,468 shares at an exercise price of $0.001. The fully exercised underwriters’ option brings net proceeds to approximately $673.5 million, and the transaction is expected to close on March 12, 2026.
The upsized offering follows a March 9 proposal for a $400 million sale, reflecting strong investor demand. At the end of 2025, the company reported $514.4 million in cash, cash equivalents, and investments, but its net loss widened to $162.3 million from $85 million in 2024, largely due to increased research and development spending to advance its pipeline.
Proceeds will be directed toward accelerating the development of its lead antibody, claseprubart (DNTH103), which recently received a “Go” decision in its Phase 3 CAPTIVATE trial for chronic inflammatory demyelinating polyneuropathy. Funding will also support the second candidate, DNTH212, and cover commercial readiness activities, working capital, and general corporate purposes.
The capital infusion strengthens Dianthus’s balance sheet, extending its runway into 2028 and providing the resources needed to bring its therapies to market. The upsized offering signals investor confidence in the company’s clinical milestones and its strategy to address unmet needs in severe autoimmune diseases.
The offering was well received by investors, reflecting confidence in the company’s pipeline and the recent positive trial results. Management emphasized the importance of the funding for sustaining R&D momentum and achieving commercial readiness.
CEO Marino Garcia expressed enthusiasm about the company’s potential to develop “best‑in‑disease” therapies and praised the team’s execution, underscoring the organization’s commitment to advancing its pipeline.
The successful upsizing positions Dianthus to capitalize on its clinical successes, maintain a robust cash position, and pursue its long‑term growth objectives in the competitive biotechnology landscape.
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