Denali Therapeutics Earnings Reports

Denali Therapeutics reported net losses of $114.8 million for the fourth quarter of 2024. The company is preparing for a potential accelerated approval for its lead program in MPS II and plans to expand its TV portfolio.

Denali Therapeutics reported its Q3 2024 financial results, highlighting progress in its Transport Vehicle (TV)-enabled portfolio, particularly the Enzyme TV (ETV) franchise with tividenofusp alfa for MPS II, and advancements in the DNL126 study for MPS IIIA.

Denali Therapeutics reported a net loss of $99.0 million for the second quarter of 2024, compared to a net income of $183.4 million for the same period in 2023. The company had no collaboration revenue for the quarter, a decrease from $294.1 million in the previous year, primarily due to Biogen exercising their option to license the ATV:Abeta program in 2023. Cash, cash equivalents, and marketable securities were approximately $1.35 billion as of June 30, 2024.

Denali Therapeutics reported a net loss of $101.8 million for the first quarter of 2024. The company completed a private investment in public equity (PIPE) financing with gross proceeds of $500 million and divested its preclinical small molecule portfolio. They are progressing with clinical trials for various programs, including tividenofusp alfa, DNL343, and DNL126.

Denali Therapeutics reported a net loss of $119.5 million for the fourth quarter of 2023, compared to a net loss of $98.7 million for the same period in 2022. The company's cash, cash equivalents, and marketable securities were approximately $1.03 billion as of December 31, 2023.

Denali Therapeutics reported a net loss of $99.4 million for Q3 2023, with collaboration revenue decreasing due to lower revenue from the Sanofi collaboration, partially offset by increased revenue from the Biogen collaboration. Research and development expenses increased, driven by progress in the ETV:IDS and eIF2B programs, while general and administrative expenses also rose.

Denali Therapeutics reported a net income of $183.4 million for the second quarter of 2023, a significant increase compared to the net loss of $58.8 million for the same period in 2022. The increase in revenue was primarily due to Biogen exercising their option to license Denali's ATV:Abeta program. Strategic decisions were made to discontinue development of TAK-920/DNL919 in Alzheimer’s disease and revise the BIIB122 clinical development plan.

Denali Therapeutics reported a net loss of $109.8 million for the first quarter of 2023, with collaboration revenue of $35.1 million. The company made significant progress across its therapeutic portfolio, including the advancement of multiple late-stage programs, and reported positive data from studies of DNL310 and DNL343.

Denali Therapeutics reported a net loss of $98.7 million for the fourth quarter of 2022, with collaboration revenue of $10.3 million and research and development expenses of $92.1 million. The company's cash, cash equivalents, and marketable securities were $1.34 billion as of December 31, 2022. Denali is focused on advancing its therapeutic portfolio and expanding its Transport Vehicle platform.

Denali Therapeutics reported a net loss of $103.3 million for the third quarter of 2022, compared to a net loss of $84.6 million for the same period in 2021. Collaboration revenue was $3.6 million, a decrease from $5.3 million in the prior year. The company's cash, cash equivalents, and marketable securities were approximately $1.11 billion as of September 30, 2022.

Denali Therapeutics reported a net loss of $58.8 million compared to a net loss of $60.7 million for the same period in the previous year. Collaboration revenue increased to $52.5 million, driven by milestone payments related to the TAK-920/DNL919 and SAR443820/DNL788 programs.

Denali Therapeutics reported a net loss of $65.2 million for the first quarter of 2022, with collaboration revenue increasing to $42.1 million due to partnerships with Takeda and Biogen. The company's research and development expenses also increased, driven by advancements in its ETV:IDS program and overall portfolio development.

Denali Therapeutics reported a net loss of $75.3 million for the fourth quarter of 2021, compared to a net income of $244.9 million for the same period in 2020. Collaboration revenue decreased to $12.5 million from $316.8 million year-over-year, primarily due to a decrease in revenue recognized under the Biogen collaboration agreement. The company anticipates an increase of approximately 25-30% in cash operating expenses compared to 2021.

Denali Therapeutics reported a net loss of $84.6 million for the third quarter of 2021, compared to a net loss of $58.2 million for the same period in 2020. Collaboration revenue was $5.3 million, a decrease from $9.4 million in the prior year. Total research and development expenses were $71.6 million, an increase from $53.7 million in the prior year. Cash, cash equivalents, and marketable securities were approximately $1.36 billion as of September 30, 2021.

Denali Therapeutics reported a net loss of $60.7 million for the second quarter of 2021, compared to a net loss of $58.8 million for the same period in 2020. Collaboration revenue increased to $22.9 million, driven by a milestone payment from Sanofi and increased revenue from collaborations with Takeda and Biogen. The company's cash, cash equivalents, and marketable securities totaled approximately $1.4 billion as of June 30, 2021.

Denali Therapeutics reported a net loss of $70.0 million for the first quarter of 2021, compared to a net loss of $56.8 million for the same period in 2020. Collaboration revenue increased to $7.9 million, driven by increased costs in partnered programs with Takeda. Total research and development expenses were $60.2 million, and general and administrative expenses were $18.9 million. Cash, cash equivalents, and marketable securities totaled $1.45 billion as of March 31, 2021.

Denali Therapeutics reported a net income of $244.9 million for Q4 2020, a significant increase compared to the net loss of $54.0 million in Q4 2019. The increase was primarily driven by $307.4 million of revenue recognized under the Biogen Collaboration Agreement. The company's cash, cash equivalents, and marketable securities were $1.5 billion as of December 31, 2020.

Denali Therapeutics reported a net loss of $58.2 million for the third quarter ended September 30, 2020. They commenced a collaboration with Biogen and completed patient enrollment in Cohort A for ETV:IDS (DNL310) Phase 1/2 in Hunter syndrome. The company's cash, cash equivalents, and marketable securities were $981.5 million as of September 30, 2020.

Denali Therapeutics reported a net loss of $58.8 million for the second quarter of 2020. They entered into a collaboration agreement with Biogen on the LRRK2 program and commenced dosing of DNL310 in Hunter syndrome patients.

Denali Therapeutics reported a net loss of $56.8 million for the first quarter of 2020, compared to a net loss of $39.0 million for the same period in 2019. Collaboration revenue decreased slightly, while research and development expenses increased due to the progression of Denali's portfolio.

Denali Therapeutics reported a net loss for the quarter ended December 31, 2019, compared to net income for the same period in 2018. There was a decrease in collaboration revenue and an increase in research and development expenses.