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Sep 30, 2023
Denali Therapeutics Q3 2023 Earnings Report
Denali Therapeutics' financial performance reflected a net loss, decreased collaboration revenue, and increased research and development expenses.
Key Takeaways
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.
Net losses were $99.4 million, compared to $103.3 million for the same period in 2022.
Collaboration revenue decreased to $1.3 million from $3.6 million year-over-year.
Research and development expenses increased to $89.7 million from $87.8 million year-over-year.
Cash, cash equivalents, and marketable securities totaled approximately $1.12 billion as of September 30, 2023.
Forward Guidance
Denali anticipates an increase in cash operating expenses for the full year 2023 of approximately 15-20% compared to 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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