Dianthus Therapeutics, Inc. /DE/ Earnings Per Share Disclosure
15. Net Loss Per Share
Basic and diluted net loss per share of common stock were calculated as follows:
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Year Ended |
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2025 |
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2024 |
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Numerator: |
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|
|
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|
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Net loss |
|
$ |
(162,337 |
) |
|
$ |
(84,969 |
) |
Denominator: |
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|
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Weighted-average number of shares of common stock outstanding including shares issuable under equity-classified pre-funded warrants, used in computing net loss per share of common stock, basic and diluted |
|
|
38,617,580 |
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|
|
33,313,849 |
|
Net loss per share attributable to common stockholders, |
|
$ |
(4.20 |
) |
|
$ |
(2.55 |
) |
Pre-funded warrants have been included in the computation of basic and diluted net loss per share of common stock as the pre-funded warrants are issuable for nominal consideration pursuant to their terms. There were outstanding pre-funded warrants of 1,944,454 and 4,666,332 as of December 31, 2025 and 2024, respectively. The outstanding pre-funded warrants increased the weighted-average number of shares of common stock outstanding by 3,302,164 shares and 4,546,993 shares for the year ended December 31, 2025 and 2024, respectively.
The Company’s potential dilutive securities, which include stock options and warrants for the purchase of common stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share is the same. The following potential dilutive securities, presented on an as converted basis, were excluded from the calculation of net loss per share due to their anti-dilutive effect:
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Year Ended |
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|||||
|
|
2025 |
|
|
2024 |
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||
Stock options outstanding |
|
|
5,991,343 |
|
|
|
4,499,702 |
|
Warrants for the purchase of common stock |
|
|
4,677 |
|
|
|
4,677 |
|
Total |
|
|
5,996,020 |
|
|
|
4,504,379 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 21, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.