Loading...
•
Jun 30, 2021
Denali Therapeutics Q2 2021 Earnings Report
Reported financial results for the second quarter ended June 30, 2021, and provided business highlights.
Key Takeaways
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.
Announced positive interim data from a Phase 1/2 study of DNL310 in Hunter syndrome, showing rapid normalization of key disease-specific biomarkers in cerebrospinal fluid.
Sanofi initiated a Phase 2 study of DNL758 for cutaneous lupus erythematosus (CLE).
Met safety and biomarker goals in DNL151 Phase 1/1b studies and plan to initiate late-stage clinical development with Biogen by year end.
Reported cash, cash equivalents, and marketable securities were approximately $1.4 billion as of June 30, 2021.
Forward Guidance
Denali plans to initiate late-stage clinical development with our LRRK2 inhibitor DNL151 (BIIB122) for Parkinson's disease in collaboration with Biogen by year end and to initiate a Phase 1b study with our EIF2B agonist DNL343 for amyotrophic lateral sclerosis (ALS) in the second half of this year.
Positive Outlook
- Initiate Phase 1b study in ALS patients
- Phase 1 data in healthy volunteers (Sanofi)
- Initiate late-stage clinical development in Parkinson's patients
- File IND application or CTA
- File IND application or CTA
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...