Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
NEW YORK and WALTHAM, Mass. - Dianthus Therapeutics, Inc. (NASDAQ: DNTH), a clinical-stage biotechnology company specializing in antibody complement therapeutics for severe autoimmune diseases, announced today the appointment of Dr. Simon Read to its Board of Directors. Dr. Read, a seasoned biopharmaceutical leader, brings over 30 years of industry experience to the role. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 16x, though it’s currently burning through cash rapidly as it advances its clinical programs.
The company also disclosed that Lonnie Moulder would be stepping down from the board. Alison Lawton, Chair of the Dianthus Therapeutics Board of Directors, expressed gratitude to Moulder for his contributions during the company’s transition from a private entity to a public one, highlighting his role during the establishment of three clinical trials. With a market capitalization of approximately $593 million, Dianthus maintains a debt-free balance sheet, positioning it well for its clinical development programs.
Dr. Read’s background includes serving as CEO and founder of Mariana Oncology before its acquisition by Novartis in 2024, as well as Chief Scientific Officer at Ra Pharma until its acquisition by UCB Pharma. His previous experience spans roles at GlaxoSmithKline, AstraZeneca, and Roche/Genentech, where he was involved in the development of notable immunology drugs such as Rituxan® and Actemra®. InvestingPro analysis shows the company’s stock trading near its Fair Value, with analysts setting price targets ranging from $34 to $84.
In his remarks, Dr. Read praised the Dianthus team for their progress with DNTH103, a therapy with significant potential for severe neuromuscular conditions. He expressed enthusiasm for the upcoming Phase 2 MaGic results expected in September and the opportunity to contribute to the company’s future successes.
Dianthus Therapeutics focuses on creating monoclonal antibodies aimed at transforming treatment options for people with severe autoimmune and inflammatory diseases. The company is headquartered in New York City and Waltham, Massachusetts.
This announcement is based on a press release statement and includes forward-looking statements regarding the company’s plans and prospects, which involve risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ materially.
In other recent news, Dianthus Therapeutics reported fourth-quarter revenue of $1.33 million, which did not meet analyst expectations. The company also posted a quarterly loss of $0.81 per share. Despite the revenue miss, Dianthus continues to make strides in its clinical trials, including the Phase 2 MaGic trial for DNTH103 in generalized Myasthenia Gravis, with top-line results anticipated in the second half of 2025. Additionally, the Phase 3 CAPTIVATE trial for Chronic Inflammatory Demyelinating Polyneuropathy is progressing, with an interim analysis expected in the second half of 2026. Dianthus has completed enrollment for the MaGic trial, surpassing its target with 65 participants. The company ended 2024 with a robust cash position of $357 million, expected to support operations into the second half of 2027. Research and development expenses rose significantly to $83.1 million, reflecting increased clinical and manufacturing costs. The company’s general and administrative expenses also increased to $25 million. Despite financial challenges, Dianthus remains focused on advancing its clinical pipeline.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.