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Side-by-side financial comparison of BioXcel Therapeutics, Inc. (BTAI) and Dianthus Therapeutics, Inc. (DNTH). Click either name above to swap in a different company.
Dianthus Therapeutics, Inc. is the larger business by last-quarter revenue ($284.0K vs $256.0K, roughly 1.1× BioXcel Therapeutics, Inc.). BioXcel Therapeutics, Inc. runs the higher net margin — -4900.4% vs -22687.3%, a 17786.9% gap on every dollar of revenue. On growth, BioXcel Therapeutics, Inc. posted the faster year-over-year revenue change (-30.1% vs -78.6%). Over the past eight quarters, BioXcel Therapeutics, Inc.'s revenue compounded faster (-33.7% CAGR vs -44.6%).
BioXcel Therapeutics, Inc. is a clinical-stage biopharmaceutical firm that leverages artificial intelligence to accelerate drug discovery and development. Its core focus is on neuroscience and immuno-oncology therapies addressing unmet medical needs, primarily serving markets in North America with candidates targeting rare and hard-to-treat conditions.
Dianthus Therapeutics is a clinical-stage biopharmaceutical firm focused on developing targeted therapies for rare immunological and inflammatory diseases. It advances antibody-based candidates to address unmet needs of severe patients, operating primarily in the U.S. with global development partners.
BTAI vs DNTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.0K | $284.0K |
| Net Profit | $-12.5M | $-64.4M |
| Gross Margin | 87.5% | — |
| Operating Margin | -4016.4% | -24486.3% |
| Net Margin | -4900.4% | -22687.3% |
| Revenue YoY | -30.1% | -78.6% |
| Net Profit YoY | -15.5% | -126.6% |
| EPS (diluted) | $0.40 | $-1.53 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $256.0K | $284.0K | ||
| Q3 25 | $98.0K | $396.0K | ||
| Q2 25 | $120.0K | — | ||
| Q1 25 | $168.0K | $1.2M | ||
| Q4 24 | $366.0K | $1.3M | ||
| Q3 24 | $214.0K | $2.2M | ||
| Q2 24 | $1.1M | $1.9M | ||
| Q1 24 | $582.0K | $874.0K |
| Q4 25 | $-12.5M | $-64.4M | ||
| Q3 25 | $-30.9M | $-36.8M | ||
| Q2 25 | $-19.2M | — | ||
| Q1 25 | $-7.3M | $-29.5M | ||
| Q4 24 | $-10.9M | $-28.4M | ||
| Q3 24 | $-13.7M | $-25.2M | ||
| Q2 24 | $-8.3M | $-17.6M | ||
| Q1 24 | $-26.8M | $-13.7M |
| Q4 25 | 87.5% | — | ||
| Q3 25 | 88.8% | — | ||
| Q2 25 | 10.8% | — | ||
| Q1 25 | 91.7% | — | ||
| Q4 24 | -127.0% | — | ||
| Q3 24 | -446.7% | — | ||
| Q2 24 | 94.4% | — | ||
| Q1 24 | 86.3% | — |
| Q4 25 | -4016.4% | -24486.3% | ||
| Q3 25 | -14518.4% | -10173.7% | ||
| Q2 25 | -13210.0% | — | ||
| Q1 25 | -6011.3% | -2852.7% | ||
| Q4 24 | -2866.9% | -2406.9% | ||
| Q3 24 | -7146.3% | -1376.6% | ||
| Q2 24 | -1566.7% | -1191.8% | ||
| Q1 24 | -4151.7% | -2041.6% |
| Q4 25 | -4900.4% | -22687.3% | ||
| Q3 25 | -31541.8% | -9284.1% | ||
| Q2 25 | -15989.2% | — | ||
| Q1 25 | -4317.9% | -2537.5% | ||
| Q4 24 | -2966.9% | -2144.8% | ||
| Q3 24 | -6378.5% | -1159.0% | ||
| Q2 24 | -751.7% | -945.1% | ||
| Q1 24 | -4603.3% | -1573.0% |
| Q4 25 | $0.40 | $-1.53 | ||
| Q3 25 | $-2.18 | $-0.97 | ||
| Q2 25 | $-2.45 | — | ||
| Q1 25 | $-1.50 | $-0.82 | ||
| Q4 24 | $-1.17 | $-0.76 | ||
| Q3 24 | $-5.15 | $-0.74 | ||
| Q2 24 | $-3.30 | $-0.51 | ||
| Q1 24 | $-13.89 | $-0.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.4M | $404.3M |
| Total DebtLower is stronger | $109.6M | — |
| Stockholders' EquityBook value | $-95.5M | $493.4M |
| Total Assets | $44.9M | $530.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.4M | $404.3M | ||
| Q3 25 | $36.2M | $402.6M | ||
| Q2 25 | $17.4M | — | ||
| Q1 25 | $31.0M | $263.2M | ||
| Q4 24 | $29.9M | $275.2M | ||
| Q3 24 | $40.4M | $281.1M | ||
| Q2 24 | $56.3M | $360.7M | ||
| Q1 24 | $74.1M | $377.0M |
| Q4 25 | $109.6M | — | ||
| Q3 25 | $109.1M | — | ||
| Q2 25 | $108.7M | — | ||
| Q1 25 | $105.5M | — | ||
| Q4 24 | $102.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-95.5M | $493.4M | ||
| Q3 25 | $-88.9M | $546.5M | ||
| Q2 25 | $-107.7M | — | ||
| Q1 25 | $-90.2M | $328.6M | ||
| Q4 24 | $-93.1M | $352.5M | ||
| Q3 24 | $-85.6M | $337.9M | ||
| Q2 24 | $-74.3M | $358.2M | ||
| Q1 24 | $-72.4M | $372.7M |
| Q4 25 | $44.9M | $530.9M | ||
| Q3 25 | $44.8M | $577.4M | ||
| Q2 25 | $25.8M | — | ||
| Q1 25 | $38.6M | $348.6M | ||
| Q4 24 | $38.3M | $374.0M | ||
| Q3 24 | $48.9M | $354.2M | ||
| Q2 24 | $65.4M | $369.0M | ||
| Q1 24 | $82.3M | $382.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-14.2M | $-47.0M |
| Free Cash FlowOCF − Capex | — | $-47.1M |
| FCF MarginFCF / Revenue | — | -16591.9% |
| Capex IntensityCapex / Revenue | — | 48.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-132.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.2M | $-47.0M | ||
| Q3 25 | $-18.8M | $-30.6M | ||
| Q2 25 | $-12.6M | — | ||
| Q1 25 | $-12.0M | $-27.6M | ||
| Q4 24 | $-14.8M | $-27.4M | ||
| Q3 24 | $-16.3M | $-21.3M | ||
| Q2 24 | $-23.2M | $-14.5M | ||
| Q1 24 | $-17.7M | $-14.9M |
| Q4 25 | — | $-47.1M | ||
| Q3 25 | — | $-30.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-27.7M | ||
| Q4 24 | — | $-27.5M | ||
| Q3 24 | — | $-21.3M | ||
| Q2 24 | — | $-14.5M | ||
| Q1 24 | — | $-15.0M |
| Q4 25 | — | -16591.9% | ||
| Q3 25 | — | -7717.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -2377.8% | ||
| Q4 24 | — | -2072.0% | ||
| Q3 24 | — | -980.3% | ||
| Q2 24 | — | -780.7% | ||
| Q1 24 | — | -1713.2% |
| Q4 25 | — | 48.6% | ||
| Q3 25 | 0.0% | 1.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 3.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
