Dianthus Therapeutics stock maintains buy rating ahead of September trial data

Stifel reiterated a buy rating and $52.00 price target on Dianthus Therapeutics (NASDAQ:DNTH), representing significant upside from the current price of $18.22. According to InvestingPro data, analyst targets range from $34 to $84, with the company currently trading below its Fair Value. The $586 million market cap biotech holds more cash than debt, though it’s burning through cash rapidly as it develops lead drug candidate DNTH103.

The discussion focused on DNTH103’s design rationale and upcoming Phase 2 trial readout in myasthenia gravis (MG) expected in September 2025. Management expressed confidence in classical pathway inhibition as an effective mechanism for treating autoantibody-driven diseases while avoiding black box warnings associated with broader complement inhibitors. With a strong current ratio of 16x and minimal debt, the company appears well-positioned to fund its clinical programs through these important milestones. Get access to 8 more key financial insights with InvestingPro.

Dianthus believes that if DNTH103 shows clinical efficacy comparable to C5 inhibitors in the MG trial, it would represent a success due to the drug’s improved safety profile and convenient dosing schedule via a biweekly autoinjector.

The company is also studying DNTH103 in chronic inflammatory demyelinating polyneuropathy (CIDP), with an interim analysis expected in the second half of 2026. Assuming success in the MG trial, this study would support a supplemental Biologics License Application filing.

Phase 2 data for multifocal motor neuropathy (MMN) is also on track for the second half of 2026, with Stifel noting that both CIDP and MMN are indications with clinical validation for this therapeutic approach.

In other recent news, Dianthus Therapeutics has completed patient enrollment for its Phase 2 MaGic trial, which is evaluating the efficacy of DNTH103 in individuals with generalized Myasthenia Gravis (gMG). The trial, which is randomized, double-blind, and placebo-controlled, recruited 65 participants, exceeding its target of 60. The primary focus is to assess the safety and tolerability of DNTH103, with results expected in September 2025. In related developments, the company announced the appointment of Dr. Simon Read to its Board of Directors. Dr. Read has extensive experience in the biopharmaceutical industry, having previously served in leadership roles at Mariana Oncology and Ra Pharma. He expressed enthusiasm for the upcoming Phase 2 MaGic results and the potential of DNTH103 for severe neuromuscular conditions. Additionally, Dianthus Therapeutics disclosed that Lonnie Moulder would be stepping down from the board. These announcements reflect the company’s ongoing efforts to advance its clinical trials and strengthen its leadership team.

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