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Dec 31, 2019
Denali Therapeutics Q4 2019 Earnings Report
Denali Therapeutics experienced a net loss, decreased collaboration revenue, and increased research and development expenses.
Key Takeaways
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.
Net loss of $54.0 million for the quarter ended December 31, 2019, compared to net income of $77.5 million for the quarter ended December 31, 2018.
Collaboration revenue was $4.7 million for the quarter ended December 31, 2019, compared to $125.7 million for the quarter ended December 31, 2018.
Total research and development expenses were $51.6 million for the quarter ended December 31, 2019, compared to $39.9 million for the quarter ended December 31, 2018.
Cash, cash equivalents, and marketable securities were $455.2 million as of December 31, 2019.
Forward Guidance
Denali expects key milestones in 2020, including advancing its LRRK2 program into late stage clinical testing and establishing clinical biomarker proof-of-concept with its first large molecule program, ETV:IDS (DNL310) in Hunter syndrome.
Positive Outlook
- Advancing LRRK2 program into late stage clinical testing.
- Establishing clinical biomarker proof-of-concept with ETV:IDS (DNL310) in Hunter syndrome.
- Initiating a Phase 1/2 study for DNL310 in Hunter syndrome patients in the first half of 2020.
- Positive results from a Phase 1b study with DNL201 in patients with Parkinson’s disease.
- Commenced dosing of its small molecule activator of EIF2B, DNL343, in healthy volunteers.
Challenges Ahead
- Early stages of clinical drug development.
- Ability to complete the development and, if approved, commercialization of its product candidates.
- Risk of the occurrence of any event, change or other circumstance that could give rise to the termination of Denali’s collaboration agreements.
Historical Earnings Impact
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