Dianthus Therapeutics raises USD 625m in upsized underwritten public offering

Dianthus Therapeutics, Inc. (Nasdaq: DNTH), a clinical-stage biotechnology company based in New York City and Waltham, Massachusetts, [announced](https://www.globenewswire.com/news-release/2026/03/11/3253481/0/en/Dianthus-Therapeutics-Inc-Announces-Pricing-of-Upsized-625-Million-Underwritten-Public-Offering.html) the pricing of an upsized underwritten public offering expected to generate approximately USD 625 million in gross proceeds. The Dianthus Therapeutics offering follows a series of recent clinical and corporate milestones, including an early "Go" decision for its Phase III CAPTIVATE trial in chronic inflammatory demyelinating polyneuropathy (CIDP) and positive Phase II data in generalized myasthenia gravis (gMG). The company stated that net proceeds will fund clinical and preclinical development activities, commercial readiness, working capital, and general corporate purposes. The offering was expected to close on March 12, 2026. The offering consists of 7,313,582 shares of common stock priced at USD 81.00 per share. Certain investors received pre-funded warrants to purchase up to 402,468 shares of common stock at a price of USD 80.999 per warrant, with an exercise price of USD 0.001 per share, exercisable immediately. Dianthus also granted the underwriters a 30-day option to purchase up to an additional 1,157,407 shares at the public offering price, less underwriting discounts and commissions. Jefferies, TD Cowen, Evercore ISI, Stifel, Guggenheim Securities, and William Blair served as joint book-running managers. LifeSci Capital acted as financial advisor to Dianthus. The press release did not identify specific institutional investors participating in the offering, nor did it disclose insider participation. Company overview and pipeline Dianthus Therapeutics is focused on developing therapies for severe autoimmune and inflammatory diseases. The company's lead asset is claseprubart (DNTH103), a complement C1s inhibitor. Claseprubart is currently being evaluated in the Phase III [CAPTIVATE trial](https://clinicaltrials.gov/study/NCT06858579) in CIDP, which is recruiting with a target enrollment of 480 participants. An early "Go" decision was reached after response criteria were met ahead of schedule in fewer than 40 Part A participants. The company has also completed a Phase II trial (MaGic) in gMG, in which claseprubart demonstrated statistically meaningful improvements in MG-ADL and QMG scores at Week 13 for both 300 mg and 600 mg biweekly doses, with onset observed as early as Week 1. A Phase II study in multifocal motor neuropathy (MMN) is also recruiting, with an enrollment target of 36 participants. Beyond claseprubart, Dianthus added a second clinical-stage asset through an October 2025 exclusive licensing agreement with Nanjing Leads Biolabs. The deal granted Dianthus global rights (excluding Greater China) to LBL-047, designated DNTH212, a bifunctional BDCA2 and BAFF/APRIL inhibitor for severe autoimmune diseases. The transaction included USD 30 million in upfront and near-term payments, an USD 8 million milestone tied to initiation of a Dianthus-led Phase I study, and total potential payments of up to USD 1 billion. A two-part Phase I study of DNTH212 in healthy volunteers and systemic lupus erythematosus patients was initiated in China following the deal. This USD 625 million raise represents the third capital raise by Dianthus in approximately two years, following a USD 230 million private placement in January 2024 led by Bain Capital Life Sciences and RA Capital Management, and a USD 251 million underwritten public offering in September 2025. --- Spot something wrong? [Report an issue with this article](https://newsgen-prod.reframedata.com/feedback/dianthus-therapeutics-offering-raises-usd-625m)