Denali Therapeutics Inc

Latest Results (06.10.2025):

Denali Therapeutics Inc. reported its financial results for the fourth quarter and full year of 2023, highlighting a continued commitment to advancing its pipeline of treatments for neurodegenerative and lysosomal storage diseases. The company experienced a reduction in annual net losses and saw significant growth in collaboration revenue, positioning itself for sustained operations through 2028.

Net Losses

For the fourth quarter of 2023, Denali Therapeutics Inc. reported a net loss of $119.5 million, compared to a net loss of $98.7 million in the same quarter of 2022. For the full year 2023, the net loss was $145.2 million, a significant decrease from $326.0 million in 2022.

Collaboration Revenue

Denali Therapeutics Inc. saw a notable increase in collaboration revenue for the full year 2023, reaching $330.5 million compared to $108.5 million in 2022. However, collaboration revenue for the fourth quarter of 2023 was $0, a decrease from $10.3 million in Q4 2022. The annual increase was driven by revenue from the Biogen Collaboration Agreement, partially offset by decreases in revenue from the Takeda and Sanofi collaborations.

Operating Expenses and Cash Position

As of December 31, 2023, Denali Therapeutics Inc. had approximately $1.03 billion in cash, cash equivalents, and marketable securities. The company anticipates that its operating expenses for 2024 will remain at or below 2023 levels, and with the expected proceeds from a private investment in public equity (PIPE) financing, Denali's cash runway is projected to extend into 2028.

Corporate Developments

Denali Therapeutics Inc. entered into a PIPE financing agreement, raising approximately $500 million through the sale of common stock and pre-funded warrants. Additionally, the company announced plans to spin out its preclinical small molecule portfolio to focus on its Transport Vehicle (TV)-enabled platforms for brain delivery of large molecules.

Future Outlook

Looking ahead to 2024, Denali Therapeutics Inc. expects to complete enrollment in its late-stage trials for MPS II and ALS and continue advancing its pipeline with TV-enabled enzymes, antibodies, and oligonucleotides. The company remains focused on expanding its therapeutic portfolio to address significant unmet medical needs in neurodegenerative and lysosomal storage diseases.