Denali Therapeutics Inc.

DNLI

$22.80

-0.22%

2026-09-03 16:00:01 EDT-$0.05

Healthcare

Biotechnology

NASDAQ

Active Trading

Denali Therapeutics Inc. is a biopharmaceutical firm, founded in 2013 and based in South San Francisco, California, which focuses on identifying and ...

Price Action of DNLI

$22.80

-0.22%-$0.05

High—

Low—

52W High-16.5%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

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Denali Therapeutics Inc. is a clinical-stage biopharmaceutical company founded in 2013 and headquartered in South San Francisco, California. The company focuses on discovering and developing therapies for neurodegenerative diseases, including Parkinson's disease, Alzheimer's disease, amyotrophic lateral sclerosis (ALS), and lysosomal storage disorders. Denali's innovative platform, called the Transport Vehicle (TV), ...Denali Therapeutics Inc. is a clinical-stage biopharmaceutical company founded in 2013 and headquartered in South San Francisco, California. The company focuses on discovering and developing therapies for neurodegenerative diseases, including Parkinson's disease, Alzheimer's disease, amyotrophic lateral sclerosis (ALS), and lysosomal storage disorders. Denali's innovative platform, called the Transport Vehicle (TV), is designed to shuttle biotherapeutics across the blood-brain barrier, enabling effective delivery of large molecules to the central nervous system. The company's pipeline includes several promising candidates: BIIB122/DNL151, an inhibitor of leucine-rich repeat kinase 2 (LRRK2) for Parkinson's disease, currently in Phase 1/1b trials; DNL310 for Hunter syndrome (Phase 1/2); DNL343 for ALS (Phase 1); AR443820/DNL788, which has completed Phase 1 trials for ALS, MS, and Alzheimer's; and SAR443122/DNL758 for cutaneous lupus erythematosus (Phase 2). Denali collaborates with major pharmaceutical and biotech partners such as Takeda, Genentech, Sanofi, F-star, and the Michael J. Fox Foundation, among others. As a public company listed on NASDAQ (ticker: DNLI), Denali has a market capitalization of approximately $3.94 billion as of the latest data. The company employs around 500 people and is led by CEO Ryan Watts, a co-founder with a Ph.D. in neuroscience. Financially, Denali has yet to generate significant revenue (revenue per share is low) and currently posts negative net income, reflecting typical R&D-heavy investment for a clinical-stage biotech. Despite this, the company maintains a strong balance sheet with a current ratio above 8 and no significant debt. Denali's mission is to cross biological barriers and invent technologies that advance human health, particularly in the challenging area of central nervous system diseases. With a robust pipeline, strategic partnerships, and a dedicated team, Denali is positioned to bring transformative treatments to patients suffering from devastating neurological conditions.ExpandCollapse

Founded

2013

Employees

503

CEO

Ryan J. Watts

Full Name

Denali Therapeutics Inc.

Sector

Healthcare

Industry

Biotechnology

ROE

-55.27%

Market Cap

$3.62B

Current Ratio

8.37

WACC

9.21%

ROIC

-62.95%

Contact Information

https://www.denalitherapeutics.com

650 866 8548

161 Oyster Point Boulevard, South San Francisco, CA 94080

Key Metrics of DNLI

Snapshot

Latest / TTM · 6 periods

Market Cap

$3.62B

ROCE

-50.8%

EV / EBITDA

-6.93x

+2.2% YoY

FCF Yield

-12.1%

+2.5% YoY

Cash Conversion Cycle

-84.5d

Current Ratio

8.37

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of DNLI

Profitability trend

Latest / TTM · 6 periods

Gross Margin

-61.0%

Net Margin

-14191.2%

P/E Ratio

-8.03x

n/a

Debt / Equity

0.03

n/a

Current Ratio

8.37

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of DNLI

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.41 · Revenue $12.23M · 13 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.63 · Revenue $22.56M · 13 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-2.32 · Revenue $38.67M · 15 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-0.62 · Revenue $22.27M · 5 analysts

Recent history

Aug 6, 2026
Q2 FY2026 · Results reported
EPS $-0.68 · Revenue $3.60M
View filing
May 7, 2026
Q1 FY2026 · Results reported
EPS $-0.69 · Revenue $0.00
View filing
Feb 26, 2026
FY2025 · Annual results
EPS $-2.97 · Revenue $0.00
View filing
Nov 6, 2025
Q3 FY2025 · Results reported
EPS $-0.74 · Revenue $0.00
View filing
Aug 11, 2025
Q2 FY2025 · Results reported
EPS $-0.72 · Revenue $0.00
View filing
Mar 31, 2025
Q1 FY2025 · Results reported
EPS $-0.78 · Revenue $0.00

Financial Statements of DNLI

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$0	—	—
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-512.5M	-21.2%	+0.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	—	—	—
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	—	—	—
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	—	—	—
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-422.1M	-16.1%	+26.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	—	—	—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	3.6%	-8.5%	-23.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	9.16x	+8.3%	-9.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$1.1B	-16.7%	-8.5%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-2.97 vs -2.95	-0.5%	-0.68 vs -0.41	-67.9%
Revenue Surprise	$0 vs $2.5M	-100.0%	$3.6M vs $12.2M	-70.5%

Insider Transactions of DNLI

Acquisitions (A)

Since Jun 3, 2026

Disposals (D)

Since Jun 3, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Sep 1, 2026	Schuth Alexander O.	officer: COFO and Secretary	Common Stock	D	2,768	$23.44
Aug 12, 2026	Watts Ryan J.	director, officer: President and CEO	Common Stock	D	32,220	—
Aug 11, 2026	Schuth Alexander O.	officer: COFO and Secretary	Common Stock	D	2,857	$25.07
Jun 3, 2026	FLATLEY JAY T	director	Common Stock	A	6,408	—
Jun 3, 2026	FLATLEY JAY T	director	Stock Option (right to buy)	A	19,226	$19.66

Earnings Call Transcript of DNLI

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Good day and thank you for standing by. Welcome to the second quarter 2026 financial results and business highlights. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Laura Hansen. Please go ahead. Laura Hansen: Good afternoon, everyone, and thank you for joining us today to discuss Denali Therapeutics' second quarter 2026 financial results and business highlights. Earlier today, we issued our earnings press release and filed our quarterly report. The press release, financial tables, and today's presentation are available in the Investor Relations section of our website. Before we begin, I would like to remind everyone that today's discussion will include forward-looking statements. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings and the cautionary language in today's press release and presentation for a discussion of these risks. Denali undertakes no obligation to update these forward-looking statements, except as required by law. Joining me today are Ryan Watts, our Chief Executive Officer; Katie Peng, our Chief Commercial Officer; Alexander Schuth, our Chief Operating and Financial Officer; and Peter Chin, our Chief Medical Officer, Head of Development. Ryan will begin with opening remarks. Katie will then provide an update on the U.S. launch of AVLAYAH. Ryan will return to discuss pipeline highlights, and Alex will review our financial results. Peter will join the team for the question-and-answer session. Ryan? Ryan Watts: Thanks, Laura, and thank you, everyone, for joining us today. We will begin on Slide 5. This was a transformative quarter for Denali. We completed the first full quarter of the AVLAYAH launch, advanced two transport vehicle-enabled Alzheimer's disease programs into clinical development, and further strengthened our financial position. Before I discuss those highlights, I want to begin with why we are here. At Denali, our purpose is to transform life for people living with serious diseases. That includes children and adults with rare genetic diseases such as Hunter syndrome, Sanfilippo syndrome, FTD-GRN, and Pompe disease, as well as the millions of people living with common neurodegenerative diseases such as Alzheimer's disease and Parkinson's disease. Across both groups, our mission is the same: to bring the power of biologic medicine to the brain. Slide 6. The common challenge across many of these diseases is the blood-brain barrier. For over a decade, we have built the transport vehicle platform to address that challenge by engineering biologic medicines to cross the blood-brain barrier through receptor-mediated transport. Earlier this year, that work reached an important milestone. Slide 7. With FDA approval of AVLAYAH, Denali became a commercial company and began …

Leadership Team of DNLI

8 executives

Name	Title	Compensation	Gender	Year Born	Status
Ryan J. Watts	Co-Founder, President, Chief Executive Officer & Director	USD 1,419,645	—	1976	Active
Alexander O. Schuth	Co-Founder, Chief Financial Officer, Chief Operating Officer & Secretary	USD 926,175	—	1973	Active
Katie Peng	Chief Commercial Officer	—	Female	1971	Active
Joe Lewcock	Chief Scientific Officer	—	Male	—	Active
Cindy Dunkle	Chief People Officer	—	Female	—	Active
Chris Walsh	General Counsel	—	Male	—	Active
Dana Andersen	Chief Technical and Manufacturing Officer	—	—	—	Active
Peter Chin	Acting Chief Medical Officer & Head of Development	—	Male	1968	Active

Recent News of DNLI

Seeking Alpha8/7/2026Neutral

Denali Therapeutics Inc. (DNLI) Q2 2026 Earnings Call Transcript

MarketBeat8/6/2026Neutral

Denali Therapeutics Q2 Earnings Call Highlights

Denali Therapeutics NASDAQ: DNLI reported $3.6 million in net product revenue from AVLAYAH during the second quarter of 2026, its first full quarter of commercial availability, as the company expanded payer access and advanced two Alzheimer's disease programs into clinical development.

Zacks Investment Research8/6/2026Neutral

Denali Therapeutics Inc. (DNLI) Reports Q2 Loss, Tops Revenue Estimates

Denali Therapeutics Inc. (DNLI) came out with a quarterly loss of $0.68 per share versus the Zacks Consensus Estimate of a loss of $0.72. This compares to a loss of $0.72 per share a year ago.

GlobeNewsWire8/6/2026Neutral

Denali Therapeutics Reports Second Quarter 2026 Financial Results and Business Highlights

Strong first full quarter of AVLAYAH™ (tividenofusp alfa-eknm) launch generated $3.6 million in net product revenue Advanced TransportVehicle™ portfolio with two Alzheimer's disease programs now in clinical development $195 million in gross proceeds received in July 2026 from sale of a Priority Review Voucher, bringing pro forma cash, cash equivalents and marketable securities to more than $1.1 billion Conference call and webcast today at 4:30 p.m. ET SOUTH SAN FRANCISCO, Calif.

GlobeNewsWire7/27/2026Neutral

Denali Therapeutics to Report Second Quarter 2026 Financial Results and Business Highlights on August 6, 2026

SOUTH SAN FRANCISCO, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Denali Therapeutics Inc. (Nasdaq: DNLI) today announced that it will report financial results and business highlights for the second quarter ended June 30, 2026, on Thursday, August 6, 2026.

Historical Employee Count of DNLI

Current

503

Change

+19.19%

Minimum

380

Maximum

503

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	503	10-K	Feb 26, 2026	View
Dec 31, 2024	422	10-K	Feb 27, 2025	View
Dec 31, 2023	445	10-K	Feb 28, 2024	View
Dec 31, 2022	427	10-K	Feb 27, 2023	View
Dec 31, 2021	380	10-K	Feb 28, 2022	View

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Denali Therapeutics Inc.