Dianthus Therapeutics, Inc. /DE/ DNTH
We are a clinical-stage biotechnology company dedicated to developing potentially best-in-class therapies for patients living with severe autoimmune diseases. Our lead clinical-stage candidate, claseprubart, is a monoclonal antibody that is purposefully engineered with extended half-life, improved potency, and high selectivity for only the active C1s complement protein ("C1s") – enabling less frequent and more convenient self-administered subcutaneous ("S.C.") injections suitable for a pre-filled pen. Additionally, selective inhibition of the classical complement pathway may lower patient risk of infection from encapsulated bacteria by preserving immune activity of the lectin and alternative pathways. We believe claseprubart has the potential to address a broad array of complement-dependent diseases as currently available therapies and those in development leave room for improvements in efficacy, safety, and/or dosing convenience.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0M | $6.2M | $2.8M | $6.4M | $1.5M | — | $0 | $0 | $0 | $0 |
| R&D | $145.6M | $83.1M | $32.8M | $29.4M | $12.6M | $50.6M | $59.2M | $41.3M | $27.9M | $5.8M |
| SG&A | $34.3M | $25.0M | $18.2M | $6.7M | $2.0M | $28.1M | $23.8M | $18.6M | $7.8M | $3.5M |
| Total operating expenses | $180.0M | $108.1M | $51.0M | $36.1M | $14.6M | $78.7M | $83.0M | $60.0M | $35.7M | $9.3M |
| Operating income | -$177.9M | -$101.9M | -$48.2M | -$29.7M | -$13.1M | -$78.7M | -$83.0M | -$60.0M | -$35.7M | -$9.3M |
| Interest expense | — | — | — | — | — | — | — | — | — | $163.0K |
| Pre-tax income | -$162.3M | -$85.0M | -$43.5M | -$28.5M | -$13.1M | -$74.9M | -$76.8M | -$57.5M | -$35.5M | -$9.4M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$162.3M | -$85.0M | -$43.5M | -$28.5M | -$13.1M | -$74.9M | -$76.8M | -$57.5M | -$35.5M | -$9.4M |
| EPS, basic | -4.20 | -2.55 | -8.45 | -32.57 | -15.01 | -1.71 | — | — | — | — |
| EPS, diluted | -4.20 | -2.55 | -8.45 | -32.57 | -15.01 | -1.71 | -2.07 | -3.13 | -19.12 | -65.15 |
| Shares, diluted (wtd. avg.) | 38.6M | 33.3M | 5.2M | 874,234 | 873,471 | 43.9M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $51.1M | $22.8M | $132.4M | $15.4M | $7.6M | $59.9M | $66.9M | $60.1M | $51.6M | $4.5M |
| Short-term investments | $353.2M | $252.4M | $41.4M | $60.1M | $45.3M | $90.7M | $80.7M | $84.2M | — | — |
| Receivables | $52.0K | $0 | $294.0K | $4.7M | — | — | — | — | — | — |
| Total current assets | $409.4M | $280.9M | $177.5M | $82.0M | $180.7M | $151.5M | $149.8M | $145.3M | $52.5M | — |
| Property, plant and equipment | $296.0K | $194.0K | $185.0K | $142.0K | $7.5M | $8.3M | $9.9M | $10.2M | $2.0M | — |
| Total assets | $530.9M | $374.0M | $179.4M | $83.1M | $189.9M | $161.6M | $161.5M | $157.3M | $54.5M | — |
| Accounts payable | $9.7M | $4.6M | $2.6M | $1.2M | $3.0M | $3.8M | $2.8M | $3.5M | $167.0K | — |
| Total current liabilities | $30.7M | $18.5M | $9.6M | $8.2M | $10.9M | $11.4M | $14.1M | $10.4M | $4.1M | — |
| Total liabilities | $37.5M | $21.5M | $10.5M | $9.5M | $17.3M | $17.7M | $20.3M | $11.7M | $4.1M | — |
| Retained earnings | -$336.7M | -$174.4M | -$89.4M | -$45.9M | -$325.6M | -$254.4M | -$179.5M | -$102.7M | -$45.2M | — |
| Total equity | $493.4M | $352.5M | $168.9M | -$44.4M | -$17.2M | $143.9M | $141.2M | $145.6M | -$42.1M | -$8.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$129.1M | -$78.2M | -$36.9M | -$29.1M | -$9.9M | -$64.0M | -$57.1M | -$41.9M | -$22.3M | -$6.5M |
| Depreciation and amortisation | $111.0K | $96.0K | $67.0K | $30.0K | $0 | $2.0M | $1.8M | $875.0K | $376.0K | $6.0K |
| Stock-based compensation | $22.8M | $12.9M | $2.9M | $1.5M | $63.0K | $9.9M | $10.0M | $10.7M | $2.3M | $662.0K |
| Capital expenditure | $213.0K | $105.0K | $110.0K | $139.0K | $33.0K | $400.0K | $3.1M | $7.7M | $2.2M | $139.0K |
| Investing cash flow | -$122.8M | -$286.8M | $20.3M | -$59.8M | -$33.0K | -$10.6M | $1.5M | -$91.7M | -$2.2M | -$139.0K |
| Financing cash flow | $280.1M | $255.6M | $133.6M | $96.7M | $14.9M | $67.7M | $62.3M | $142.1M | $71.5M | $10.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001690585-26-000012.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | — | $1.5M | $6.4M | $2.8M | $6.2M | $2.0M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$9.4M | -$35.5M | -$57.5M | -$76.8M | -$74.9M | -$13.1M | -$28.5M | -$43.5M | -$85.0M | -$162.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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