Dianthus Therapeutics, Inc. /DE/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Dianthus Therapeutics, Inc. /DE/ files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
0
0
2.83
6.24
2.04
Research and development
5.78
27.9
41.3
59.2
50.6
46.8
29.4
32.8
83.1
146
General and administrative
3.49
7.83
18.6
23.8
28.1
27.9
6.74
18.2
25
34.3
Operating expenses
9.27
35.7
60
83
78.7
74.7
36.1
51
108
180
Operating income
-9.27
-35.7
-60
-83
-78.7
-74.7
-29.7
-48.2
-102
-178
Interest expense
0.16
Interest income
1.15
3.34
11.3
9.96
Other non-operating income
-0.16
0.24
2.45
1.23
4.62
16.9
15.6
Income tax
0
0
0
0
0
0
0
0
0
0
Net income
-9.43
-35.5
-57.5
-76.8
-74.9
-71.1
-28.5
-43.6
-85
-162
EBITDA
-9.26
-35.4
-59.1
-81.1
-76.7
-72.7
-27.8
-48.1
-102
-178
EPS, basic
-1,645.00
-482.74
-79.03
-52.26
-43.17
-32.57
-32.57
-8.45
-2.55
-4.20
EPS, diluted
-1,645.00
-482.74
-79.03
-52.26
-43.17
-32.57
-32.57
-8.45
-2.55
-4.20
Shares, basic (weighted)
0.01
0.07
0.73
1.47
1.74
2.18
0.87
5.15
33.3
38.6
Shares, diluted (weighted)
0.01
0.07
0.73
1.47
1.74
2.18
0.87
5.15
33.3
38.6
Dividend per share
0.00
0.00
0.00
Balance sheet
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
4.51
51.4
58.3
65.1
58.2
132
15.4
132
22.8
51.1
Short-term investments
84.2
80.7
90.7
45.3
60.1
41.4
252
353
Receivables
4.7
0.29
0
0.05
Other current assets
0.94
2.75
4.11
2.69
3.77
0.91
0
0.36
0.09
Total current assets
52.5
145
150
152
181
82
177
281
409
Property, plant and equipment
1.96
10.2
9.89
8.31
7.46
0.14
0.19
0.19
0.3
Lease right-of-use assets
0
0.81
0.62
1.55
1.34
Long-term investments
0
81.7
110
Other non-current assets
0
Total assets
54.5
157
162
162
190
83.1
179
374
531
Accounts payable
0.17
3.49
2.81
3.76
3.04
1.17
2.61
4.58
9.73
Accrued liabilities
3.98
6.93
11.3
7.67
7.82
6.61
6.5
13.1
19.5
Deferred revenue
0.1
0
0.48
1.19
Total current liabilities
4.14
10.4
14.1
11.4
10.9
8.23
9.63
18.5
30.7
Lease liabilities
0
0.44
0.17
1.17
1.02
Total liabilities
4.14
11.7
20.3
17.7
17.3
9.45
10.5
21.5
37.5
Paid-in capital
3.09
248
321
398
498
1.66
258
527
830
Retained earnings
-45.2
-103
-179
-254
-326
-45.9
-89.4
-174
-337
Other comprehensive income
-0.01
0.01
-0.02
-0.03
-0.16
0.05
0.11
0.49
Shareholders' equity
-8.87
-42.1
146
141
144
-17.2
-44.4
169
352
493
Total equity
-8.87
-42.1
146
141
144
-17.2
-44.4
169
352
493
Total liabilities and equity
54.5
157
162
162
190
83.1
179
374
531
Shares outstanding
0.09
1.32
1.55
1.92
2.33
0.88
14.8
31.1
43.2
Cash flow statement
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-9.43
-35.5
-57.5
-76.8
-74.9
-71.1
-28.5
-43.6
-85
-162
Depreciation and amortization
0.01
0.38
0.88
1.84
1.98
2.02
1.93
0.07
0.1
0.11
Stock-based compensation
0.66
2.26
10.7
10
9.94
10.3
1.52
2.9
12.9
22.8
Change in receivables
0
-0.05
Change in payables
1.01
-1.13
2.5
0.15
0.95
-0.72
-0.8
Cash from operations
-6.53
-22.3
-41.9
-57.1
-64
-59.5
-29.1
-36.9
-78.2
-129
Capital expenditures
-0.14
-2.2
-7.67
-3.06
-0.4
-1.26
-0.31
-0.11
-0.11
-0.21
Purchases of investments
-84
-144
-95.7
-45.3
-69.5
-57.4
-414
-435
Sales and maturities of investments
149
85.5
90
60
Cash from investing
-0.14
-2.2
-91.7
1.53
-10.6
43.4
-59.8
20.3
-287
-123
Stock issued
93
60.9
64.9
0
2.9
0
0
0.32
Cash from financing
10.7
71.5
142
62.3
67.7
89.6
96.7
134
256
280
Net change in cash
4.04
47
8.56
6.73
-6.92
73.5
7.79
117
-109
28.2
Free cash flow
-6.67
-24.5
-49.6
-60.2
-64.4
-60.8
-29.4
-37
-78.3
-129
Interest paid
0
0
0
0
Income taxes paid
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $88.55 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-16.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-15.8%
Net income / average total assets.
Return on invested capital (ROIC)
-16.2%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-67.3%
Revenue vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
40.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 5y
27.9%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
42.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
85.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
26.9%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
15.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
253.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
85.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
26.1x
Current assets / current liabilities.
Quick ratio
25.8x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
25.8x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$2.78
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.77
Cash from operations / diluted weighted shares.
Book value per share
$21.39
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
4.23x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.23x
Market cap / tangible book value, when positive.
FCF yield
-3.1%
Free cash flow / market cap.
Earnings yield
-3.9%
Net income / market cap (the inverse of P/E).
What was Dianthus Therapeutics, Inc. /DE/'s revenue in fiscal 2025?
Dianthus Therapeutics, Inc. /DE/ reported revenue of $2.0M for fiscal 2025, 67.3% lower than the year before.
Was Dianthus Therapeutics, Inc. /DE/ profitable in fiscal 2025?
No. It reported a net loss of $162.3M.
How much free cash flow did Dianthus Therapeutics, Inc. /DE/ generate in fiscal 2025?
Cash from operations of $129.1M minus capital expenditures of $213.0K left free cash flow of -$129.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.