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NEW YORK - Dianthus Therapeutics, Inc. (NASDAQ:DNTH), a pharmaceutical company based in New York with a market capitalization of $588 million, has announced the departure of Tomas Kiselak from its Board of Directors effective at the close of business on March 4, 2025. The company’s stock has faced headwinds recently, declining nearly 30% over the past six months, according to InvestingPro data. According to the company’s recent SEC filing, Mr. Kiselak’s resignation did not stem from any disagreement with the company’s operations, policies, or practices.
Following Mr. Kiselak’s departure, the company’s Board appointed Sujay Kango as a Class II director and as a member of the Board’s Compensation Committee, effective immediately after the business closure on the same day. The appointment comes at a crucial time for Dianthus, which maintains a strong financial position with more cash than debt on its balance sheet, as highlighted by InvestingPro’s financial health assessment. Mr. Kango’s appointment comes with a compensatory arrangement that includes an initial grant of an option to purchase 25,000 shares of the company’s common stock. This option is set to vest over three years, contingent upon his continued service on the Board.
Additionally, Mr. Kango will receive an annual cash compensation of $40,000 for his service on the Board and an additional $6,000 for his role on the Compensation Committee, with payments made quarterly and prorated for partial service. He will also be eligible for annual equity awards under the company’s current Non-Employee Director Compensation Policy.
In line with standard company practice, Mr. Kango will enter into an indemnification agreement with Dianthus Therapeutics. This move is part of the company’s governance structure and ensures the protection of its directors in their decision-making processes.
The information provided in this article is based on a press release statement from Dianthus Therapeutics, Inc. and reflects the latest changes in the company’s corporate governance as filed with the Securities and Exchange Commission. Investors should note that Dianthus is scheduled to report its next earnings on March 21, 2025. InvestingPro subscribers have access to 8 additional key insights about Dianthus, including detailed financial health metrics and growth projections.
In other recent news, Dianthus Therapeutics announced the appointment of John C. King as its new Chief Commercial Officer. King brings over 25 years of experience in biotechnology, notably leading the commercial launch of Soliris® for generalized Myasthenia Gravis (gMG) at Alexion Pharmaceuticals (NASDAQ:ALXN). His previous role at Ra Pharma culminated in a $2.5 billion acquisition by UCB after FDA approval of a novel gMG treatment. In parallel, Dianthus welcomed Sujay Kango to its Board of Directors, while Tomas Kiselak departed from the board. Additionally, TD Cowen initiated coverage on Dianthus Therapeutics with a Buy rating, highlighting the potential of DNTH103, the company’s leading drug candidate. DNTH103 is praised for its selectivity in inhibiting the classical pathway of the complement system, offering potential safety and convenience advantages. Phase 1 clinical trial data supports its bi-weekly subcutaneous dosing, which could be administered with an at-home autoinjector. These developments indicate significant market opportunities for Dianthus, particularly in treating gMG, Chronic Inflammatory Demyelinating Polyneuropathy (CIDP), and Multifocal Motor Neuropathy (MMN).
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