--- title: "Dianthus launches $400,000,000 stock offering" url: "https://aibio.space/news/dianthus-launches-400-000-000-stock-offering-then-prices-81-00-share/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-09" section: "Financings" tickers: "NASDAQ:DNTH" source: "https://www.sec.gov/Archives/edgar/data/1690585/000119312526098846/d112823d424b5.htm" summary: "Dianthus priced 7,313,582 shares and pre-funded warrants for 402,468 shares at $81.00, for $624,999,648 in total, after launching a $400,000,000 offering." --- By the aibio.space news desk. Sources - [Dianthus Therapeutics, Inc. 424B5 (2026-03-09)](https://www.sec.gov/Archives/edgar/data/1690585/000119312526098846/d112823d424b5.htm) - [d112823d424b5.htm](https://www.sec.gov/Archives/edgar/data/1690585/000119312526102472/d112823d424b5.htm) - [Dianthus Therapeutics, Inc. 10-K (2026-03-09): business](https://www.sec.gov/Archives/edgar/data/1690585/000169058526000006/dnth-20251231.htm) - [Dianthus Therapeutics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1690585/000169058526000006/) [DNTH](https://aibio.space/companies/dianthus-therapeutics/) 2026-03-09 # Dianthus launches $400,000,000 stock offering, then prices it at $81.00 a share Tickers [DNTH](https://aibio.space/companies/dianthus-therapeutics/) Dianthus priced 7,313,582 shares and pre-funded warrants for 402,468 shares at $81.00, for $624,999,648 in total, after launching a $400,000,000 offering. Its 2025 net loss was $162.3 million, and the supplement names no counsel. ## Key facts - **Company**: Dianthus Therapeutics, Inc. (NASDAQ: DNTH) - **News type**: Financings - **Primary source**: [Dianthus Therapeutics, Inc. 424B5 (2026-03-09)](https://www.sec.gov/Archives/edgar/data/1690585/000119312526098846/d112823d424b5.htm) *A city skyline seen across a river. Photo: Matt Bango, CC0, via StockSnap. The picture shows the field, not the companies named.* Dianthus Therapeutics, Inc. (Nasdaq: [DNTH](https://aibio.space/companies/dianthus-therapeutics/)) filed a preliminary prospectus supplement on March 9, 2026 for an offering of $400,000,000 of common stock and pre-funded warrants. The final prospectus supplement, dated March 10, 2026, priced 7,313,582 shares of common stock and pre-funded warrants for 402,468 shares at $81.00 a share. The total of $624,999,648 is more than the amount launched. Underwriting discounts and commissions are $37,500,003, which leaves $587,499,645 before expenses. The underwriters hold a 30-day option on 1,157,407 more shares. If it is exercised in full, discounts would total $43,125,001 and proceeds before expenses would be $675,624,614. Delivery was expected on or about March 12, 2026. ## Pricing and use of proceeds The last reported sale price cited in the preliminary supplement was $65.20 on March 6, 2026. The company estimates net proceeds of about $585.4 million, or about $673.5 million if the option is exercised in full. It says it will use them, together with existing cash, cash equivalents and investments, for clinical and preclinical development, commercial readiness activities, working capital and general corporate purposes. The filing says the underwriters' obligations are subject to conditions, including receipt of legal opinions and approval of certain legal matters by their counsel. The underwriting section does not name that counsel, and it does not name the adviser whose advisory fees are also deducted from proceeds. The representatives of the underwriters are Jefferies LLC, TD Securities (USA) LLC, Evercore Group L.L.C., Stifel, Nicolaus & Company, Incorporated and Guggenheim Securities, LLC, which are also the joint book-running managers. William Blair & Company, L.L.C. is also an underwriter. ## Losses, dilution and the trials The annual report gives a net loss of $162.3 million for 2025, against $85.0 million for 2024. Cash used in operations was $129.1 million in 2025, against $78.2 million a year earlier. Research and development expense rose to $145.6 million from $83.1 million. Revenue was $2.0 million in 2025, down from $6.2 million in 2024. At the end of 2024 the company held $22.8 million in cash and cash equivalents and $252.4 million in short-term investments. The supplement estimates that the net proceeds plus existing cash, cash equivalents and investments will fund operations into 2030, but says that will not be enough to reach regulatory approval and commercialization and that the company will need substantial additional capital. It also notes an at-the-market facility with TD Securities (USA) LLC, set up on October 1, 2024, under which 2,626,834 shares have been sold and $100.1 million remains available. The prospectus supplement gives 43,223,090 common shares outstanding as of December 31, 2025, plus 989,552 shares issuable on exercise of outstanding stock options. Net tangible book value per share was $11.55 before the offering and would be $21.46 after it. New investors would face immediate dilution of $59.54 per share, measured from the $81.00 price. The lead candidate, claseprubart, is a monoclonal antibody that selectively inhibits the C1s complement protein. The Phase 2 MaGic trial in generalized myasthenia gravis enrolled 65 AChR-positive participants. Its primary endpoint was safety and tolerability, and efficacy endpoints, including MG-ADL and MG-QOL-15r, were secondary and exploratory. The company says claseprubart at 300 mg and 600 mg produced rapid, statistically significant and clinically meaningful improvements over placebo. At Week 13 the placebo-adjusted improvement in MG-ADL was 1.8 points at 300 mg and 2.6 points at 600 mg, according to the company's report. The Phase 3 CAPTIVATE trial in CIDP reached what the company calls an early go in March 2026, after an interim responder analysis hit a target of 20 confirmed responders with fewer than the planned 40 participants completing Part A. An interim responder analysis is not a final efficacy result. A Phase 3 registrational trial in generalized myasthenia gravis is planned to start in mid-2026, with topline results in the second half of 2028. Initial topline results from a Phase 2 trial in motor neuropathy are expected in the second half of 2026. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story DNTH Dianthus Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/dianthus-launches-400-000-000-stock-offering-then-prices-81-00-share/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Dianthus launches $400,000,000 stock offering", 2026-03-09, https://aibio.space/news/dianthus-launches-400-000-000-stock-offering-then-prices-81-00-share/