Dianthus Therapeutics closes $288 million public offering

Dianthus Therapeutics Inc. (NASDAQ: DNTH) completed its underwritten public offering, raising approximately $288 million in gross proceeds before fees and expenses.

The biotechnology company sold 7,627,879 shares of common stock at $33.00 per share, including 1,140,000 additional shares from the full exercise of underwriters' option to purchase more stock. The company also issued pre-funded warrants to purchase up to 1,112,121 shares at $32.999 per warrant to certain investors instead of common stock.

The pre-funded warrants carry an exercise price of $0.001 per share and can be exercised immediately. All securities in the offering were sold by Dianthus.

Dianthus plans to use the net proceeds to advance preclinical and clinical development activities, along with working capital and general corporate purposes. The company develops antibody complement therapeutics for autoimmune diseases.

Jefferies, TD Cowen, Evercore ISI and Stifel served as joint book-running managers for the offering, while LifeSci Capital acted as lead manager.

The offering was conducted under a shelf registration statement that became effective with the Securities and Exchange Commission on October 9, 2024. The company is based in New York and Waltham, Massachusetts.

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