Dianthus Therapeutics, Inc. /DE/
DNTH evidence brief
What we can confirm
- BioSniper Score:
- 5.4 / 10
- Market Cap:
- $5.81B
- Lead Asset:
- dnth212 (Phase 3)
What it means
What to watch
Prepared research question
What matters most for DNTH—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · DNTH
Dianthus Therapeutics, Inc. (DNTH) is a publicly traded biotechnology company focused on developing complement-targeted therapies for neuromuscular and autoimmune disorders, with a lead program in generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy.
Key risk: Operating losses
BioSniper Score
Based on 4 of 6 signals
Market Cap
$5.81B
Cash Runway
—
Lead Asset
dnth212 (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for Dianthus Therapeutics, Inc. /DE/.
Dianthus Therapeutics, Inc. (DNTH) is a publicly traded biotechnology company focused on developing complement-targeted therapies for neuromuscular and autoimmune disorders, with a lead program in generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy.
- Cash & equivalents of $110.5M as of 2026-06-30 [sec].
- Net income of -$50.2M as of 2026-06-30 [sec].
- Shareholders' equity of $1,172.0M as of 2026-06-30 [sec].
- Phase 2 MaGic trial of claseprubart (DNTH103) in gMG achieved statistically significant improvements at Week 13 [news · published 2025-11-06].
- Phase 1 trial of DNTH212 (LBL-047) for SLE initiated, with top-line healthy volunteer data expected in 2H 2026 [news · published 2025-12-23].
What works
- Strong cash position of $110.5M as of 2026-06-30 provides runway for pipeline execution [sec].
- Claseprubart (DNTH103) showed statistically significant and clinically meaningful improvements in the Phase 2 MaGic trial for gMG [news · published 2025-11-06].
- Multiple near-term catalysts: Phase 3 CIDP interim readout expected Q2 2026 and Phase 2 MMN top-line results in 2H 2026 [news · published 2025-05-13].
- Pipeline expansion with DNTH212 (LBL-047) entering Phase 1 for SLE, targeting a large autoimmune market [news · published 2025-12-23].
What to weigh
- Net loss of -$50.2M as of 2026-06-30 indicates ongoing operating losses [sec].
- Phase 3 CAPTIVATE trial for CIDP is still ongoing with interim analysis not until 2H 2026, leaving a key program in uncertainty [news · published 2025-05-13].
- DNTH212 faces a competitive landscape with 14 competitors including AstraZeneca and Roche in Phase 3 for SLE [pipeline].
- Reliance on a single lead asset (claseprubart) for near-term value, with multiple readouts concentrated in 2025-2026 [news · published 2025-08-08].
From the filings
Quoted directly from source documents.
Claseprubart Phase 2 gMG results
“Claseprubart achieved statistically significant and clinically meaningful improvements in Myasthenia Gravis Activities of Daily Living (MG-ADL), Quantitative Myasthenia Gravis (QMG), and other efficacy measures at Week 13 in Phase 2 MaGic trial in gMG”
News · November 6, 2025
DNTH212 Phase 1 initiation
“Leads Biolabs And Dianthus Therapeutics Announce Initiation of Phase 1 Trial Of LBL-047 (DNTH212) In Healthy Volunteers and Patients With Systemic Lupus Erythematosus (SLE)”
News · December 23, 2025
Risks & what to watch (4)›
Key risks
- Operating losses — Net loss of -$50.2M as of 2026-06-30 indicates ongoing cash burn [sec].
- Pipeline concentration — Near-term value depends heavily on claseprubart readouts in 2025-2026 [news · published 2025-08-08].
- Competitive pressure on DNTH212 — 14 competitors in SLE, including Phase 3 programs from AstraZeneca and Roche [pipeline].
- CIDP trial uncertainty — Phase 3 CAPTIVATE interim analysis not until 2H 2026, leaving key program unresolved [news · published 2025-05-13].
What to watch
- Phase 3 CAPTIVATE interim responder analysis for CIDP anticipated in 2H 2026 [news · published 2025-05-13].
- Phase 2 MoMeNtum top-line results for MMN anticipated in 2H 2026 [news · published 2025-05-13].
- Phase 1 DNTH212 healthy volunteer data expected in 2H 2026 [news · published 2025-12-23].
- Indication prioritization update for DNTH212 expected in 1H 2026 [news · published 2025-12-23].
Sources: Catalysts · News · Pipeline · Generated October 3, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.04 · 0% dilution
Lead: Phase 3
1 candidate
No upcoming catalysts tracked
0 buys · 31 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
241
Total value held
$5.13B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 7,767,686 | $651.9M |
| avidity partners management lp | 4,208,368 | $361.3M |
| blackrock, inc. | 3,175,703 | $266.5M |
| ra capital management, l.p. | 2,611,733 | $219.2M |
| wellington management group llp | 2,595,783 | $217.8M |
| fairmount funds management llc | 2,537,191 | $212.9M |
| vanguard capital management llc | 2,031,249 | $170.5M |
| octagon capital advisors lp | 1,946,667 | $163.4M |
| tcg crossover management, llc | 1,676,624 | $140.7M |
| citadel advisors llc | 1,610,483 | $135.2M |
Showing top 10 of 241 institutional holders of Dianthus Therapeutics, Inc. /DE/. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 13.9%
- Days to cover
- 6.3
- Shares short
- 6,564,599
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
DNTH short interestGovernance
Frequently asked questions
What is the AI investment thesis for Dianthus Therapeutics, Inc. /DE/?
Dianthus Therapeutics, Inc. (DNTH) is a publicly traded biotechnology company focused on developing complement-targeted therapies for neuromuscular and autoimmune disorders, with a lead program in generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy.
What is Dianthus Therapeutics, Inc. /DE/'s lead drug candidate?
Dianthus Therapeutics, Inc. /DE/'s most advanced tracked candidate is dnth212 (Phase 3) for systemic lupus erythematosus.
Who is the CEO of Dianthus Therapeutics, Inc. /DE/?
Mr. Marino Garcia M.B.A. is the chief executive officer of Dianthus Therapeutics, Inc. /DE/ (DNTH).
Where is Dianthus Therapeutics, Inc. /DE/ headquartered?
Dianthus Therapeutics, Inc. /DE/ (DNTH) is headquartered in New York, NY, United States.
What therapeutic areas does Dianthus Therapeutics, Inc. /DE/ focus on?
Dianthus Therapeutics, Inc. /DE/ develops therapies across Oncology, Neurology, Immunology, Cardiovascular, Respiratory.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.