Dianthus Therapeutics, a biotechnology company based in Midtown Manhattan, announced plans to raise up to $625 million through a public stock offering. The company, which focuses on developing treatments for autoimmune diseases and inflammatory neuropathies, said it will sell 7.3 million shares at $81 each. The offering is scheduled to close on March 12.
The clinical-stage firm, which went public last year via a reverse merger with Magenta Therapeutics of Cambridge, Massachusetts, operates from its Times Square headquarters and maintains an additional site in Waltham, Massachusetts. Proceeds from the offering will be allocated toward clinical and preclinical development, commercial preparation, and general corporate purposes, according to the company's statement.
Dianthus reported having $514.4 million in cash, cash equivalents, and investments at the end of 2025. However, the company also posted a net loss of $162.3 million last year, nearly double the $85 million loss reported in 2024. This increase was largely due to a 75 percent rise in research and development expenses, which climbed to $145.6 million from $83.1 million, reflecting higher clinical trial costs.
A company spokesperson declined to comment further on the stock sale or financial results. The offering follows a period of intensified investment in the development of anti-inflammatory therapies targeting nerve damage caused by autoimmune conditions.