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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.
Denali Therapeutics
Denali Therapeutics
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.
- Dependence on successful development of its BBB platform technology.
- Ability to conduct or complete clinical trials on expected timelines.