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DNTH

Dianthus Therapeutics, Inc.

DNTH

Dianthus Therapeutics, Inc. • NASDAQ
$43.98 ▼ -0.11% (-0.05)
Market Cap $1.59 B
52w High $44.95
52w Low $13.37
Dividend Yield 0%
P/E -12.57
Volume 192.15K
Outstanding Shares 36.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $396K ▲ $40.684M ▲ $-36.765M ▼ -9.284K% ▲ $-0.97 ▼ $-36.738M ▼
Q2-2025 $193K ▼ $35.12M ▲ $-31.629M ▼ -16.388K% ▼ $-0.88 ▼ $-34.828M ▼
Q1-2025 $1.163M ▼ $34.34M ▲ $-29.511M ▼ -2.537K% ▼ $-0.82 ▼ $-33.044M ▼
Q4-2024 $1.326M ▼ $33.242M ▲ $-28.44M ▼ -2.145K% ▼ $-0.81 ▼ $-31.838M ▼
Q3-2024 $2.172M $32.072M $-25.174M -1.159K% $-0.74 $-29.784M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $402.613M ▲ $577.445M ▲ $30.991M ▲ $546.454M ▲
Q2-2025 $257.389M ▼ $326.076M ▼ $22.997M ▲ $303.079M ▼
Q1-2025 $263.23M ▼ $348.58M ▼ $19.974M ▼ $328.606M ▼
Q4-2024 $275.241M ▼ $374.008M ▲ $21.531M ▲ $352.477M ▲
Q3-2024 $281.123M $354.248M $16.35M $337.898M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-36.765M ▼ $-30.555M ▼ $-201.275M ▼ $274.513M ▲ $42.683M ▲ $-30.56M ▼
Q2-2025 $-31.629M ▼ $-23.892M ▲ $26.445M ▲ $568K ▲ $3.121M ▲ $-23.938M ▲
Q1-2025 $-29.511M ▼ $-27.63M ▼ $14.794M ▲ $161K ▼ $-12.676M ▼ $-27.654M ▼
Q4-2024 $-28.44M ▼ $-27.444M ▼ $-23.11M ▲ $39.676M ▲ $-10.878M ▲ $-27.475M ▼
Q3-2024 $-25.174M $-21.267M $-259.364M $296K $-280.498M $-21.292M

Revenue by Products

Product Q2-2025Q3-2025
License
License
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Dianthus is still very much a development-stage biotech story, not an operating business. Revenue is essentially zero, so the income statement is driven almost entirely by research and development and other operating costs. Losses have been steady and meaningful over multiple years, reflecting the cost of running clinical trials and building the pipeline. Per‑share results look very volatile, influenced not only by the underlying losses but also by capital structure changes such as the reverse split. Profitability is not in sight yet and will depend on future clinical and regulatory success rather than on current operations.

Balance Sheet

Balance Sheet The balance sheet has strengthened over time, moving from a thin and at one point slightly negative equity base to a more solid positive equity position. Assets and cash have grown as the company has raised capital, while it carries no financial debt, which reduces balance sheet risk. This leaves Dianthus funded largely by equity rather than borrowing. The additional capital raised after the reported period is described as providing multiple years of runway, which, if accurate, gives management room to execute the clinical plan without immediate pressure to refinance or take on leverage. That said, the asset base is still lean and highly concentrated in cash and R&D-related items, typical for a small biotech.

Cash Flow

Cash Flow Cash flow reflects the same story as the income statement: money is flowing out to fund operations and clinical development, with no meaningful inflows from product sales. Operating cash burn has been consistent and broadly in line with reported losses, and there is essentially no spending on physical assets, so free cash flow is negative for purely operational reasons. This is normal for a clinical‑stage biotech but means the business is reliant on external funding. The reported strong cash position and extended runway reduce near‑term liquidity concerns, but long‑term sustainability will still hinge on trial outcomes and potential partnerships or future financings.

Competitive Edge

Competitive Edge Dianthus is trying to carve out a niche in autoimmune and neuromuscular diseases through highly targeted antibody therapies. Its lead candidate focuses on a validated pathway in the immune system and is designed for convenient, infrequent self‑injection, which could be attractive versus existing intravenous treatments if efficacy and safety hold up. The company is pursuing a “pipeline‑in‑a‑product” approach, aiming to treat several related conditions with the same core drug, which can deepen expertise and potentially create scale advantages in a focused area. However, the competitive landscape in autoimmune and complement‑targeted therapies is crowded, with large, well‑funded players. Dianthus’s moat is still developing and rests on clinical differentiation and execution, not on established commercial presence.

Innovation and R&D

Innovation and R&D Innovation is clearly the center of Dianthus’s strategy. The lead antibody, claseprubart, is engineered for high selectivity and long duration, aiming to control disease drivers while preserving broader immune function and reducing dosing burden. Early clinical data in one neuromuscular disease have been encouraging, and multiple late‑stage and mid‑stage trials are planned across related conditions. The second program, DNTH212, uses a dual mechanism to hit both innate and adaptive immune pathways, which is a sophisticated and relatively novel approach in autoimmune disease. The pipeline is still young, so scientific promise is balanced by high development risk, but the company is committing heavily to R&D and appears to be building a focused, innovation‑led franchise rather than a broad, unfocused portfolio.

Summary

Dianthus is a classic early‑stage biotech: almost no revenue, persistent operating losses, and negative cash flow, funded by equity rather than debt. The financial profile is high‑risk but currently cushioned by a stronger cash position and no leverage. The real story is in the science and the pipeline. The company is betting on targeted antibody therapies with patient‑friendly dosing and is concentrating on severe autoimmune and neuromuscular disorders where unmet need is high. Its potential advantages lie in dosing convenience, pathway selectivity, and a strategy to use a small number of assets across multiple diseases. On the other hand, everything depends on successful clinical trials and regulatory approvals in a competitive field. Overall, Dianthus looks financially typical for a small clinical‑stage biotech, with its future value tied much more to pipeline execution than to current financial performance.

NEWS

November 24, 2025 · 7:00 AM UTC

Dianthus Therapeutics To Participate in the 8th Annual Evercore Healthcare Conference

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November 5, 2025 · 4:01 PM UTC

Dianthus Therapeutics Highlights Recent Business Achievements and Reports Q3 Financial Results

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November 4, 2025 · 8:00 AM UTC

Dianthus Therapeutics to Participate in Four Investor Conferences During November

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October 29, 2025 · 3:30 PM UTC

Dianthus Therapeutics Highlights New Claseprubart Data Presented During 2025 AANEM Annual Meeting

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October 16, 2025 · 7:00 AM UTC

Dianthus Therapeutics Announces Exclusive License Agreement with Leads Biolabs for DNTH212, a First and Potentially Best-In-Class, Phase 1 Ready Bifunctional BDCA2 & BAFF/APRIL Inhibitor for Severe Autoimmune Diseases

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