Dianthus Raises $719M with Upsized Share Offering and Pre-Funded Warrants
Dianthus Therapeutics raised approximately $719 million through an upsized offering of 8.47 million common shares and full exercise of an additional 1.16 million-share underwriters’ option at $81.00 per share, plus 402,468 pre-funded warrants at $80.999 each. Proceeds will fund clinical and preclinical development, commercial readiness, working capital and general corporate purposes.
1. Offering Details
Dianthus Therapeutics completed an underwritten public offering of 8,470,989 common shares at $81.00 per share, including full exercise of a 1,157,407-share underwriters’ option, generating gross proceeds of approximately $719 million. This upsized raise positions the company for near-term and mid-term operational milestones.
2. Shares and Warrants Breakdown
In addition to common stock, Dianthus issued 402,468 pre-funded warrants at $80.999 each, exercisable immediately with a $0.001 strike price. These warrants provide investors with immediate equity upside while accommodating purchase limits for certain shareholders.
3. Use of Proceeds
Net proceeds will support advancement of the company’s clinical and preclinical pipeline, accelerate commercial readiness activities for lead candidates, and bolster working capital and general corporate resources. This funding extends the company’s runway through key development and regulatory milestones.
4. Underwriting and Registration
Jefferies, TD Cowen, Evercore ISI, Stifel, Guggenheim Securities and William Blair served as joint book-running managers, with LifeSci Capital as financial advisor. The offering was executed under a shelf registration statement declared effective January 30, 2026, with a follow-on registration filing under Rule 462(b).