Magenta Q1 net loss $23M; MGTA-117 shows target binding and rapid clearance at lowest dose

Dianthus Therapeutics, Inc. /DE/

2022-Q1 EPS reported -$0.39

Net loss of $23.0M for Q1 2022 vs. $17.5M in Q1 2021; R&D expenses rose to $16.5M from $11.7M.
Cash, equivalents and marketable securities $156.6M as of Mar 31, 2022; expected to fund operations into Q2 2024.
Phase 1/2 MGTA-117 Cohort 1 data: target binding on CD117+ cells, rapid drug clearance within 48 hours, no serious drug-related AEs; dose escalation to Cohort 2 (0.04 mg/kg) underway.
One patient with low blast burden showed ~83% reduction of bone marrow blasts at day 14; supports planned transition to transplant-eligible AML patients.
IND-enabling studies for CD45-ADC ongoing; key toxicology results expected 2H 2022. MGTA-145 sickle cell trial startup progressing; initial data expected 2H 2022.

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