Today, Dianthus Therapeutics, Inc. (NASDAQ:DNTH), a pharmaceutical company, announced the appointment of Steven Romano, M.D. to its Board of Directors and as a member of the Science and Technology Committee, effective immediately.
Dr. Romano's appointment comes as part of the company's ongoing efforts to strengthen its leadership with experienced professionals in the field. Under the company's Non-Employee Director Compensation Policy, Dr. Romano will receive an option grant to purchase 22,000 shares of Dianthus Therapeutics' common stock. These shares will vest over a period of three years, with one-third vesting annually, contingent upon his continued service on the Board.
In addition to the stock option grant, Dr. Romano will receive an annual cash compensation of $40,000 for his role on the Board and an additional $5,000 for his participation on the Science and Technology Committee. The cash compensation will be paid quarterly and prorated for partial service within any calendar quarter.
Furthermore, Dr. Romano will be eligible for annual equity awards as per the company's policy, which may be revised from time to time. As part of his onboarding, he will also enter into a standard indemnification agreement that has been previously approved by the Board.
Dianthus Therapeutics, which is headquartered in New York, New York, focuses on the development of pharmaceutical preparations. The company's latest addition to its Board reflects its commitment to governance excellence and strategic expertise in the pharmaceutical industry.
In other recent news, Dianthus Therapeutics has been making significant strides with its lead agent, DNTH103. The drug has entered phase 2 trials, targeting three autoimmune neuromuscular diseases: generalized myasthenia gravis, multifocal motor neuropathy, and chronic inflammatory demyelinating polyneuropathy. This phase is a crucial step towards regulatory approval and commercial availability.
Baird, a prominent analyst firm, has initiated coverage on Dianthus Therapeutics with an Outperform rating and a price target of $58.00. The firm's positive outlook is largely based on DNTH103's potential, which is seen as a possible market leader in the complement inhibitors drug class.
In addition, Dianthus Therapeutics has received FDA clearance for a Phase 2 trial of DNTH103 for Multifocal Motor Neuropathy patients, with initial results expected in the second half of 2026. The company is also initiating a Phase 2 trial for generalized Myasthenia Gravis and planning another trial for Chronic Inflammatory Demyelinating Polyneuropathy in 2024.
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