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Jun 30, 2020
Denali Therapeutics Q2 2020 Earnings Report
Reported financial results for the second quarter ended June 30, 2020 and provided business highlights.
Key Takeaways
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.
Entered into a Collaboration Agreement with Biogen on LRRK2 program for Parkinson’s disease and certain transport vehicle (TV) platform-enabled programs for neurodegenerative diseases.
Selected DNL151 to advance into late stage clinical studies in Parkinson’s disease patients.
Commenced dosing of DNL310 in Hunter syndrome patients.
Publication of two scientific papers describing blood-brain barrier transport vehicle delivery technology.
Denali Therapeutics
Denali Therapeutics
Forward Guidance
This press release contains forward-looking statements regarding Denali's progress and business plans, expectations regarding the proposed transaction with Biogen, and plans to conduct clinical development activities and commercialize products.
Positive Outlook
- plans to conduct clinical development activities
- plans to commercialize products
- LRRK2 inhibitors as modifying therapy for Parkinson’s disease
- plans, timelines and expectations related to DNL151
- plans, timelines and expectations related to DNL310 and Denali’s TV technology
Challenges Ahead
- risks related to Denali’s business and operations caused directly or indirectly by the evolving COVID-19 pandemic
- the risks that the proposed transaction with Biogen may not be completed in a timely manner or at all
- the possibility that certain closing conditions to the proposed transaction will not be satisfied, including the finalization of a definitive collaboration agreement
- risks related to obtaining the requisite regulatory approvals, including those required under antitrust laws
- risk of the occurrence of any event, change or other circumstance that could give rise to the termination of Denali’s agreements with Biogen or any of Denali’s other collaboration agreements