Cormorant Takes $55 Million Stake in Dianthus After 350% Rally

The disclosure signals rising institutional interest as investors focus on near‑term trial milestones supported by a long cash runway.

Overview

Cormorant Asset Management disclosed via an SEC 13F a new 950,000‑share position in Dianthus Therapeutics, an estimated $55.01 million purchase now valued at $79.72 million and roughly 4% of its reported 13F assets.
Dianthus shares have surged about 350% over the past year to roughly $85, lifting the company’s market value to about $4 billion.
The company reported an early “GO” decision in its Phase 3 CAPTIVATE study after it reached responder targets faster than expected.
A Phase 3 trial in generalized myasthenia gravis remains on track to start in mid‑2026, with more data in multifocal motor neuropathy expected later this year.
After raising about $719 million earlier this year, Dianthus ended the quarter with roughly $1.2 billion in cash, which extends funding into 2030 and puts the spotlight on clinical execution and upcoming readouts.