DNTH Dianthus Therapeutics, Inc. /DE/
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Executive Summary
Dianthus Therapeutics posted an updated corporate presentation disclosing a 75% confirmed responder rate from the first 40 patients completing Part A of the Phase 3 CAPTIVATE trial of claseprubart in CIDP. The data supports an early GO decision and a streamlined trial design with ~1/3 fewer Part B patients, with Part B top-line guidance expected by YE'26. The filing also reiterates upcoming catalysts: Ph. 3 gMG EMERGE initiation (mid-'26), Ph. 2 MMN MoMeNtum data (Q4'26), and Ph. 1 DNTH212 data (2H'26).
Actionable Insight
The 75% CIDP responder rate and streamlined trial design significantly de-risk the CAPTIVATE program and support accelerated path to Part B top-line data by YE'26. With ~$1.2B cash runway into 2030 and multiple catalysts across gMG, CIDP, MMN, and DNTH212 over the next 6-18 months, the risk/reward is skewed positively. Monitor Ph. 3 gMG EMERGE initiation in mid-2026 and Ph. 2 MMN data in Q4'26 as the next key value inflection points.
Key Facts
- 75% confirmed responder rate (30 of 40) in Part A of CAPTIVATE Ph. 3 CIDP trial, exceeding the 50% threshold for GO decision
- CAPTIVATE trial design streamlined: Part B reduced from 192 to 128 patients, Part A enrollment capped at 256 vs. 480
- No related serious infections, no clinical symptoms of DIL, no related SAEs or discontinuations in interim analysis
- Cash position of ~$1.2B as of March 31, 2026, with runway into 2030
- FDA Orphan Drug Designation received May 2026 for claseprubart in Myasthenia Gravis
- Ph. 3 gMG EMERGE trial initiation expected mid-2026 with top-line data 2H'28
- Ph. 2 MMN MoMeNtum top-line data expected Q4'26
- Ph. 1 DNTH212 healthy volunteer top-line data expected 2H'26
Financial Impact
No financial figures reported in filing; cash position of ~$1.2B disclosed as of March 31, 2026
Risk Factors
- Interim analysis based on only 40 patients — final Part A and Part B results may differ
- Ph. 3 gMG EMERGE top-line data not expected until 2H'28, a long wait for pivotal readout
- Competitive landscape includes approved C5 inhibitors (Soliris, Ultomiris), FcRn blockers (Vyvgart), and emerging aC1s competitors (riliprubart, empasiprubart)
- ANA positivity observed in 36.4% of 600mg/4mL arm in Ph. 2 gMG, though no clinical DIL symptoms reported
- All pipeline candidates are investigational — no approved products or revenue
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001690585-26-000029 |
| Document: dnth-20260612.htm | 0001690585-26-000029 |
| Document: 0001690585-26-000029-index-headers.html | 0001690585-26-000029 |
| Document: 0001690585-26-000029-index.html | 0001690585-26-000029 |
| Document: 0001690585-26-000029.txt | 0001690585-26-000029 |
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Jun 12, 2026
4d ago
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8-K
| $82.07 $82.51 | ▲ +0.54% | ▼ −1.23% | $78.88 (−3.89%) |
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Jun 11, 2026
5d ago
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Institutional Cluster
| $76.45 $82.07 | ▲ +7.35% | ▲ +6.81% | $78.88 (+3.18%) |
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May 5, 2026
6w ago
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8-K
| $90.42 $85.47 | ▼ −5.47% | ▼ −5.14% | $78.88 (−12.76%) |
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Mar 12, 2026
13w ago
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Press Release
| $77.86 $78.00 | ▲ +0.18% | ▼ −0.84% | $78.88 (+1.31%) |
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Mar 12, 2026
13w ago
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8-K
| $80.32 $77.86 | ▼ −3.06% | ▼ −2.47% | $78.88 (−1.79%) |
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Mar 12, 2026
13w ago
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Insider Cluster
| $80.32 $77.86 | ▲ +3.06% | ▲ +2.47% | $78.88 (+1.79%) |
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Mar 12, 2026
13w ago
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Insider Cluster
| $80.32 $77.86 | ▲ +3.06% | ▲ +2.47% | $78.88 (+1.79%) |
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Mar 11, 2026
14w ago
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Press Release
| $85.84 $80.32 | ▼ −6.43% | ▼ −4.95% | $78.88 (−8.11%) |
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Mar 9, 2026
14w ago
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Press Release
| $79.23 $86.92 | ▲ +9.71% | ▲ +9.89% | $78.88 (−0.44%) |
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Mar 8, 2026
14w ago
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Press Release
| $79.23 $86.92 | ▲ +9.71% | ▲ +9.89% | $78.88 (−0.44%) |
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