Dianthus Therapeutics, Inc. (DNTH) reported a net loss of $84.97 million for the year ended December 31, 2024, compared to a net loss of $43.56 million in 2023. Revenue for 2024 totaled $6.24 million, a significant increase from $2.83 million in 2023. This increase stemmed primarily from $5.91 million in related-party license revenue under the Zenas Agreements, up from $2.83 million in 2023, and an additional $0.3 million in license revenue from the Tenacia License Agreement, executed in October 2024.
Operating expenses rose to $108.1 million in 2024 from $51 million in 2023. The increase in research and development expenses, from $32.8 million to $83.1 million, was attributed to increased clinical operations, CMC activities, preclinical studies, discovery expenses, and license and milestone payments related to the commencement of DNTH103's Phase 2 and 3 clinical trials. General and administrative expenses increased from $18.2 million to $25 million, largely due to increased stock-based compensation and professional services costs associated with operating as a public company and supporting clinical trials.
The company's most advanced product candidate, DNTH103, is currently in three mid-to-late-stage clinical trials for generalized myasthenia gravis (gMG), chronic inflammatory demyelinating polyneuropathy (CIDP), and multifocal motor neuropathy (MMN). Topline results from the Phase 2 gMG trial are expected in the second half of 2025, while an interim responder analysis for the Phase 3 CIDP trial is anticipated in the second half of 2026, and topline results from the Phase 2 MMN trial are expected in the second half of 2026. As of March 7, 2025, Dianthus employed 78 full-time employees, 56 of whom were involved in research and development.
Dianthus reported cash, cash equivalents, and investments of $357 million as of December 31, 2024. The company anticipates that its existing resources will fund operations into the second half of 2027, based on current projections. However, the filing notes that this projection is based on assumptions that may prove inaccurate and that additional capital will be required to fund future operations and the commercialization of any approved product candidates. The company has an at-the-market offering program allowing for the sale of up to $200 million in common stock. During the quarter ended December 31, 2024, the company sold 1,503,708 shares, generating net proceeds of $39.2 million. The company also completed a private placement in January 2024, raising approximately $230 million.
About Dianthus Therapeutics, Inc. /DE/
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