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Dianthus Therapeutics, Inc. Announces Proposed $150 Million Underwritten Public Offering

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Dianthus Therapeutics (NASDAQ:DNTH), a clinical-stage biotech company focused on antibody complement therapeutics, has announced a proposed $150 million underwritten public offering of common stock and pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional $22.5 million of common stock.

The offering, led by joint book-running managers Jefferies, TD Cowen, Evercore ISI, and Stifel, will be conducted through a shelf registration statement effective since October 2024. Proceeds will support Dianthus's preclinical and clinical development activities, working capital, and general corporate purposes.

Dianthus Therapeutics (NASDAQ:DNTH), una biotech in fase clinica specializzata in terapie anticorpali sul sistema del complemento, ha annunciato una proposta di offerta pubblica sottoscritta di 150 milioni di dollari di azioni ordinarie e warrant pre-finanziati. La società concederà agli offerenti un'opzione di 30 giorni per acquistare fino a un ulteriore 22,5 milioni di dollari di azioni ordinarie.

L'offerta, condotta dai joint book-running manager Jefferies, TD Cowen, Evercore ISI e Stifel, sarà realizzata tramite un prospetto di emissione (shelf registration) efficace dall'ottobre 2024. I proventi finanzieranno le attività precliniche e cliniche di Dianthus, il capitale circolante e scopi societari generali.

Dianthus Therapeutics (NASDAQ:DNTH), una compañía biotecnológica en fase clínica centrada en terapias de anticuerpos dirigidas al sistema del complemento, ha anunciado una propuesta de oferta pública suscrita por 150 millones de dólares de acciones ordinarias y warrants prefinanciados. La compañía otorgará a los colocadores una opción de 30 días para comprar hasta 22,5 millones de dólares adicionales en acciones ordinarias.

La oferta, liderada por los gestores conjuntos Jefferies, TD Cowen, Evercore ISI y Stifel, se realizará a través de un registro en shelf efectivo desde octubre de 2024. Los fondos se destinarán a apoyar el desarrollo preclínico y clínico de Dianthus, el capital de trabajo y fines corporativos generales.

Dianthus Therapeutics (NASDAQ:DNTH), 보체(complement) 표적 항체 치료제를 개발하는 임상단계 바이오텍 기업� 1�5천만 달러 규모� 인수�(underwritten) 공모� 통해 보통주와 프리펀� 워런트를 발행� 예정이라� 발표했습니다. 회사� 인수인들에게 추가� 최대 2,250� 달러 상당� 보통주를 30일간 매입� � 있는 옵션� 부여합니다.

이번 공모� Jefferies, TD Cowen, Evercore ISI, Stifel가 공동 주관하며, 2024� 10� 이후 유효� 서플(셸프) 등록명세서를 통해 진행됩니�. 조달금은 다이안서스의 전임상·임� 개발 활동, 운전자본 � 일반 기업 목적� 사용� 예정입니�.

Dianthus Therapeutics (NASDAQ:DNTH), une société biotechnologique en phase clinique spécialisée dans les thérapies à base d'anticorps ciblant le complément, a annoncé une proposition d'offre publique souscrite de 150 millions de dollars d'actions ordinaires et de bons de souscription préfinancés. La société accordera aux souscripteurs une option de 30 jours pour acheter jusqu'à 22,5 millions de dollars supplémentaires d'actions ordinaires.

L'offre, menée par les co-leaders Jefferies, TD Cowen, Evercore ISI et Stifel, sera réalisée via une déclaration d'enregistrement en shelf effective depuis octobre 2024. Les produits serviront à soutenir les activités de développement préclinique et clinique de Dianthus, le fonds de roulement et les besoins généraux de l'entreprise.

Dianthus Therapeutics (NASDAQ:DNTH), ein biopharmazeutisches Unternehmen in klinischer Phase mit Schwerpunkt auf Antikörper-Complement-Therapeutika, hat eine geplante unterzeichnete öffentliche Platzierung über 150 Millionen US-Dollar von Stammaktien und vorfinanzierten Warrants angekündigt. Das Unternehmen gewährt den Underwritern eine 30-tägige Option zum Erwerb von bis zu weiteren 22,5 Millionen US-Dollar an Stammaktien.

Die Platzierung wird von den Joint Book-Running-Managern Jefferies, TD Cowen, Evercore ISI und Stifel geleitet und über eine seit Oktober 2024 wirksame Shelf-Registrierung durchgeführt. Die Erlöse sollen die präklinischen und klinischen Entwicklungsaktivitäten von Dianthus, das Betriebskapital und allgemeine Unternehmenszwecke unterstützen.

Positive
  • None.
Negative
  • Potential dilution for existing shareholders
  • Stock offering may put downward pressure on share price
  • Uncertain market conditions may affect offering completion

Insights

Dianthus plans $150M stock offering to fund clinical programs, potentially diluting shareholders but strengthening its financial position.

Dianthus Therapeutics has announced plans to raise $150 million through a public offering of common stock and pre-funded warrants, with an additional $22.5 million option for underwriters. This capital raise signals a significant financial milestone for this clinical-stage biotech focused on antibody complement therapeutics for autoimmune diseases.

The financing structure, supported by prominent underwriters including Jefferies, TD Cowen, Evercore ISI and Stifel, indicates strong institutional interest in Dianthus's therapeutic approach. The company intends to allocate the proceeds toward advancing its preclinical and clinical development pipeline, which is crucial for a biotech company still in development stages without marketable products.

While this offering will strengthen Dianthus's balance sheet and extend its operational runway, investors should recognize that it will likely result in share dilution. The offering's impact on existing shareholders will depend on the final pricing and number of new shares issued, details which aren't disclosed in this announcement.

The standard 30-day option granted to underwriters for an additional 15% purchase reflects conventional offering structures in the biotech sector. The company's careful language noting the offering is "subject to market and other conditions" with "no assurance as to whether or when the offering may be completed" is standard risk disclosure, though it does suggest the final terms may still be in flux based on market reception.

NEW YORK and WALTHAM, Mass., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Dianthus Therapeutics, Inc. (Nasdaq: DNTH), a clinical-stage biotechnology company dedicated to advancing the next generation of antibody complement therapeutics to treat severe autoimmune diseases (“Dianthus� or the “Company�), today announced that it has commenced an underwritten public offering of $150 million of its shares of its common stock or, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. In addition, Dianthus expects to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of its shares of common stock at the public offering price, less underwriting discounts and commissions. The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the securities are being offered by Dianthus.

Dianthus intends to use the net proceeds from this offering to advance the Company’s preclinical and clinical development activities, as well as for working capital and general corporate purposes.

Jefferies, TD Cowen, Evercore ISI and Stifel are acting as joint book-running managers for the proposed offering.

A shelf registration statement relating to these securities was filed with the Securities and Exchange Commission (“SEC�) and became effective on October 9, 2024. This offering will be made only by means of a written prospectus, including a prospectus supplement, forming a part of an effective registration statement. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at [email protected].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dianthus Therapeutics

Dianthus Therapeutics is a clinical-stage biotechnology company dedicated to designing and delivering novel, best-in-class monoclonal antibodies with improved selectivity and potency. Based in New York City and Waltham, Mass., Dianthus is comprised of an experienced team of biotech and pharma executives who are leading the development of next-generation antibody complement therapeutics, aiming to deliver transformative medicines for people living with severe autoimmune and inflammatory diseases.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release, other than purely historical information, may constitute “forward-looking statements� within the meaning of the federal securities laws, including for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, express or implied statements regarding Dianthus� expectations regarding the proposed offering, including the timing, size, structure and completion of the proposed offering on the anticipated terms, the anticipated use of the net proceeds from the offering, the grant to the underwriters of the option to purchase additional shares and the potential value and clinical benefit of the Company’s product candidates. The words “opportunity,� “potential,� “milestones,� “runway,� “will,� “anticipate,� “achieve,� “near-term,� “catalysts,� “pursue,� “pipeline,� “believe,� “continue,� “could,� “estimate,� “expect,� “intend,� “may,� “might,� “plan,� “possible,� “predict,� “project,� “should,� “strive,� “would,� “aim,� “target,� “commit,� and similar expressions (including the negatives of these terms or variations of them) generally identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking.

Actual results could differ materially from those included in the forward-looking statements due to various factors, risks and uncertainties, including, but not limited to, that preclinical testing of claseprubart and data from clinical trials may not be predictive of the results or success of ongoing or later clinical trials, that the development of claseprubart or the Company's other compounds may take longer and/or cost more than planned, that the Company may be unable to successfully complete the clinical development of the Company’s compounds, that the Company may be delayed in initiating, enrolling or completing its planned clinical trials, and that the Company's compounds may not receive regulatory approval or become commercially successful products. These and other risks and uncertainties are identified under the heading "Risk Factors" included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2024, and other filings that the Company has made and may make with the SEC in the future. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.

The forward-looking statements in this press release speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Dianthus undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contact
Jennifer Davis Ruff
Dianthus Therapeutics
[email protected]


FAQ

How much is Dianthus Therapeutics (DNTH) planning to raise in its public offering?

Dianthus is planning to raise $150 million through an underwritten public offering, with an additional $22.5 million option granted to underwriters.

What will Dianthus Therapeutics use the proceeds from the 2025 offering for?

The proceeds will be used to advance preclinical and clinical development activities, as well as for working capital and general corporate purposes.

Who are the underwriters for Dianthus Therapeutics' 2025 public offering?

The joint book-running managers are Jefferies, TD Cowen, Evercore ISI, and Stifel.

What types of securities is DNTH offering in the September 2025 public offering?

Dianthus is offering shares of common stock and pre-funded warrants to purchase shares of common stock for certain investors who choose this option.

When does the underwriters' option to purchase additional DNTH shares expire?

The underwriters have a 30-day option to purchase up to an additional $22.5 million of common stock.
Dianthus Therapeutics Inc

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Biotechnology
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