Dianthus Therapeutics Inc
DNTHHealthcare|Biotechnology|USA
$97.54
-2.41 (-2.41%)
Tangible Book
$22.01
Financials
Financial Snapshot
Market Cap
$5.33B
Enterprise Value
$1.11B
Revenue (TTM)
$1.3M
Net Income (TTM)
$-173.7M
Cash & Equivalents
—
Net Cash/Share
$19.52
Free Cash Flow (TTM)
$-130.5M
Operating CF (TTM)
$-130.3M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$32.6M
Monthly Burn
$10.9M
Est. Runway
—
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Investments | $7.6M | $75.5M | $173.7M | $275.2M | $404.3M | $1.11B | |
| Operating Cash Flow | $-9.9M | $-29.1M | $-36.9M | $-78.2M | $-129.1M | $-130.3M | |
| Free Cash Flow | $-9.9M | $-29.2M | $-37.0M | $-78.3M | $-129.3M | $-130.5M | |
| Capital Expenditure | $-33.0K | $-139.0K | $-110.0K | $-105.0K | $-213.0K | $-199.0K | |
| Financing Cash Flow | $14.9M | $96.7M | $133.6M | $255.6M | $280.1M | $1.02B |
R&D Spending
R&D (TTM)
$153.2M
R&D Intensity
11464.3%
R&D Growth YoY
+5.2%
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $6.4M | $2.8M | $6.2M | $2.0M | $1.3M | |
| R&D Expense | $12.6M | $29.4M | $32.8M | $83.1M | $145.6M | $153.2M | |
| R&D % of Revenue | 854.1% | 457.8% | 1162.1% | 1332.9% | 7153.1% | 11464.3% | |
| SG&A | $2.0M | $6.7M | $18.2M | $25.0M | $34.3M | $39.5M |
Income Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $6.4M | $2.8M | $6.2M | $2.0M | $1.3M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $1.5M | $6.4M | $2.8M | $6.2M | $2.0M | $1.3M | |
| R&D | $12.6M | $29.4M | $32.8M | $83.1M | $145.6M | $153.2M | |
| SG&A | $2.0M | $6.7M | $18.2M | $25.0M | $34.3M | $39.5M | |
| Operating Income | $-13.1M | $-29.7M | $-48.2M | $-101.9M | $-177.9M | $-191.3M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-13.1M | $-28.5M | $-43.6M | $-85.0M | $-162.3M | $-173.7M | |
| Net Income | $-13.1M | $-28.5M | $-43.6M | $-85.0M | $-162.3M | $-173.7M | |
| EPS (Diluted) | -0.89 | -1.92 | -8.45 | -2.55 | -4.20 | -4.13 | |
| EBITDA | $-13.1M | $-29.6M | $-47.8M | $-101.5M | $-177.5M | $-190.9M | |
| Shares Out. (M) | 14.82 | 14.82 | 5.15 | 33.31 | 38.62 | 48.03 |
Balance Sheet
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.6M | $15.4M | $132.3M | $22.8M | $51.1M | $627.7M | |
| Marketable Securities | $0.00 | $60.1M | $41.4M | $252.4M | $353.2M | $483.6M | |
| Total Current Assets | $9.4M | $82.0M | $177.5M | $280.9M | $409.4M | $1.12B | |
| Total Assets | $9.5M | $83.1M | $179.4M | $374.0M | $530.9M | $1.25B | |
| Total Current Liabilities | $5.4M | $8.2M | $9.6M | $18.5M | $30.7M | $38.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $26.7M | $9.5M | $10.5M | $21.5M | $37.5M | $45.6M | |
| Stockholders' Equity | $-17.2M | $73.7M | $168.9M | $352.5M | $493.4M | $1.20B | |
| Retained Earnings | $-17.4M | $-45.9M | $-89.4M | $-174.4M | $-336.7M | $-377.6M |
Cash Flow Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-9.9M | $-29.1M | $-36.9M | $-78.2M | $-129.1M | $-130.3M | |
| Capital Expenditure | $-33.0K | $-139.0K | $-110.0K | $-105.0K | $-213.0K | $-199.0K | |
| Free Cash Flow | $-9.9M | $-29.2M | $-37.0M | $-78.3M | $-129.3M | $-130.5M | |
| Investing Cash Flow | $-33.0K | $-59.8M | $20.3M | $-286.8M | $-122.8M | $-271.6M | |
| Financing Cash Flow | $14.9M | $96.7M | $133.6M | $255.6M | $280.1M | $1.02B | |
| Issuance of Stock | $0.00 | $0.00 | $72.0M | $269.2M | $272.3M | $1.01B | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $377.0K | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $-377.0K | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $63.0K | $1.5M | $2.9M | $12.9M | $22.8M | $28.1M | |
| Net Change in Cash | $5.0M | $7.8M | $117.0M | $-109.4M | $28.2M | $617.5M |
Dilution Tracker
Shares outstanding grew 224.2% over 5 years — significant dilution
Shares Outstanding
48M
5-Year Share Growth
+224.2%
Stock Issuance (TTM)
$1.01B
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 14.82 | 14.82 | 5.15 | 33.31 | 38.62 | 48.03 | |
| YoY Change % | — | 0.0% | -65.2% | 546.4% | 15.9% | 24.4% | |
| Stock Issuance | $0.00 | $0.00 | $72.0M | $269.2M | $272.3M | $1.01B | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $63.0K | $1.5M | $2.9M | $12.9M | $22.8M | $28.1M |
Margins & Profitability
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -886.6% | -462.9% | -1704.7% | -1633.7% | -8739.3% | -14318.0% | |
| Net Margin % | -888.1% | -443.8% | -1541.2% | -1362.8% | -7973.3% | -12998.5% | |
| EBITDA Margin % | -886.6% | -460.6% | -1692.1% | -1627.1% | -8718.3% | -14290.3% | |
| FCF Margin % | -673.2% | -455.2% | -1308.2% | -1255.6% | -6349.4% | -9766.8% | |
| ROE % | 0.0% | -101.0% | -35.9% | -32.6% | -38.4% | -30.2% | |
| ROA % | -138.7% | -61.5% | -33.2% | -30.7% | -35.9% | -28.7% | |
| R&D / Revenue | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S3146.45
Historical17.55 / 117.25 / 3146.45
Industry Med.9.49
P/B4.43
Historical0.60 / 2.18 / 7.11
Industry Med.2.93
EV/EBITDA-22.12
Historical-22.12 / -5.72 / 3.53
Industry Med.13.02
EV/Revenue3160.37
Historical-45.42 / 98.98 / 3160.37
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$22.01
Net Current Assets
$19.680
Net-Net Working Capital
$19.54
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 0.00 | 18.98 | 116.58 | 777.55 | 3146.45 | |
| PB Ratio | 0.00 | 0.00 | 0.91 | 1.92 | 3.61 | 4.43 | |
| EV/EBITDA | 0.00 | 0.00 | 0.40 | -3.99 | -7.76 | -22.12 | |
| EV/Revenue | 0.00 | 0.00 | -6.73 | 64.88 | 676.97 | 3160.37 |
Analyst Estimates & Quality
Altman Z-Score
70.36
Safe
Piotroski F-Score
3
Weak
Beneish M-Score
0.11
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1.20M | $1.46M | $12.74M |
| Net Income | $-196.62M | $-256.49M | $-294.13M |
| EPS | -3.78 | -4.54 | -5.11 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Developing next-generation therapies to transform the treatment of severe autoimmune diseases | $2.0M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $2.0M |