Dianthus Therapeutics Inc. (NASDAQ: DNTH) announced it has commenced an underwritten public offering of $400 million of common stock shares or pre-funded warrants to purchase common stock shares. The clinical-stage biotechnology company also expects to grant underwriters a 30-day option to purchase up to an additional $60 million of shares at the public offering price, less underwriting discounts and commissions.

The company plans to use net proceeds from the offering to advance clinical and preclinical development activities, commercial readiness activities, working capital and general corporate purposes, according to the press release statement.

Jefferies, TD Cowen, Evercore ISI, Stifel, Guggenheim Securities and William Blair are serving as joint book-running managers for the offering. LifeSci Capital is acting as the company's financial advisor.

The proposed public offering remains subject to market and other conditions. The company noted there can be no assurance regarding whether or when the offering may be completed or the actual size or terms of the offering.

A shelf registration statement relating to these securities was filed with the Securities and Exchange Commission and became effective on January 30, 2026. The offering will be made through a written prospectus, including a prospectus supplement, forming part of the effective registration statement.

Dianthus Therapeutics develops therapies for severe autoimmune diseases and is based in New York City and Waltham, Massachusetts.