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Denali Therapeutics DNLI

Denali Therapeutics reports $70.13 million net income for Q3 2026

Form
10-Q
Filed
Importance
Notable
  1. Revenue of $17.78 million for the three months ended Sep 30, 2026
  2. Net income of $70.13 million for the three months ended Sep 30, 2026
  3. Cash and equivalents of $102.87 million as of Sep 30, 2026

Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.

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The reading, claim by claim

  1. The company reported revenue of $17.8 million for the quarter, with a net income of $70.1 million.
  2. The company's balance sheet as of September 30, 2026, shows total assets of $1.256 billion.
  3. Cash and cash equivalents were $102.87 million, while short-term marketable securities totaled $413.326 million.
  4. Long-term marketable securities were $491.376 million, and property and equipment, net, were $47.907 million.
  5. The company's operating expenses for the quarter were $144.529 million, with research and development expenses at $106.102 million.
  6. Selling, general, and administrative expenses were $37.485 million.
  7. Reuters reported that Denali Therapeutics Inc. had a significant gain on the sale of a priority review voucher, which contributed $194 million to its other income.

7 of 7 claims matched the filing text.

From the filing's financial data, not stated in its text

From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026

  • The filing includes unaudited condensed consolidated financial statements.

From the filing

ITEM 1. FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS

Denali Therapeutics Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except share amounts)

September 30, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 102,8703 $ 205,326 Short-term marketable securities 413,3263 662,553

Accounts receivable, net 18,882 —

Inventory 26,275 —

Prepaid expenses and other current assets 30,355 32,779

Total current assets 591,708 900,658 Long-term marketable securities 491,3764 98,322 Property and equipment, net 47,9074 52,402

Finance lease right-of-use asset 45,784 48,531

Operating lease right-of-use asset 15,612 19,002

Intangible asset, net 34,500 —

Other non-current assets 29,148 25,939 Total assets $ 1,256,0352 $ 1,144,854

Liabilities and stockholders' equity

Current liabilities:

Accounts payable $ 13,700 $ 505

Accrued expenses and other current liabilities 81,558 97,846

Total current liabilities 95,258 98,351

Operating lease liability, less current portion 19,280 27,210

Finance lease liability, less current portion 5,449 5,532

Liability related to the revenue participation right agreement 209,661 —

Total liabilities 329,648 131,093

Commitments and contingencies (Note 10)

Stockholders' equity:

Convertible preferred stock, $ 0.01 par value; 40,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 0 shares issued and outstanding as of September 30, 2026 and December 31, 2025

— —

Common stock, $ 0.01 par value; 400,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 160,257,940 shares and 156,182,177 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 1,929 1,888 Additional paid-in capital 3,168,215 3,062,715

Accumulated other comprehensive income (loss) ( 6,359 ) 682

Accumulated deficit ( 2,237,398 ) ( 2,051,524 ) Total stockholders' equity 926,387 1,013,761

Total liabilities and stockholders' equity $ 1,256,035 $ 1,144,854

See accompanying notes to unaudited condensed consolidated financial statements.

3

Table of Contents

Denali Therapeutics Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(Unaudited)

(In thousands, except share and per share amounts)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 Revenue: Product revenue, net $ 17,7781 $ — $ 21,382 $ — Total revenue 17,778 — 21,382 — Operating expenses: Cost of goods sold 192 — 285 — Research and development 106,1025 101,950 306,967 320,873 Selling, general and administrative 37,4856 35,484 107,279 97,104 Intangible asset amortization 750 — 1,500 — Total operating expenses 144,5295 137,434 416,031 417,977 Loss from operations ( 126,751 ) ( 137,434 ) ( 394,649 ) ( 417,977 )

Other income:

Gain on sale of priority review voucher, net 194,0007 — 194,000 —

Interest and other income, net 2,877 10,532 14,775 33,986

Total other income

196,877 10,532 208,775 33,986 Net income (loss) $ 70,126 $ ( 126,902 ) $ ( 185,874 ) $ ( 383,991 ) Other comprehensive income (loss): Net unrealized gain (loss) on marketable securities, net of tax ( 4,390 ) 162 ( 7,041 ) ( 919 ) Comprehensive income (loss) $ 65,736 $ ( 126,740 ) $ ( 192,915 ) $ ( 384,910 ) Net income (loss) per share: Basic $ 0.37 $ ( 0.74 ) $ ( 0.99 ) $ ( 2.24 ) Diluted $ 0.37 $ ( 0.74 ) $ ( 0.99 ) $ ( 2.24 )

Weighted-average shares used in calculating net income (loss) per share:

Basic 188,387,660 172,421,492 187,452,793 171,702,183 Diluted 192,077,855 172,421,492 187,452,793 171,702,183

See accompanying notes to unaudited condensed consolidated financial statements.

4

Table of Contents

Denali Therapeutics Inc.

Condensed Consolidated Statements of Stockholders' Equity

(Unaudited)

(In thousands, except share amounts)

Common Stock Additional Paid-in Capital Accumulated Other Comprehensive Income (Loss)

Accumulated Deficit Total Stockholders' Equity

Shares Amount

Balance at December 31, 2025 156,182,177 $ 1,888 $ 3,062,715 $ 682 $ ( 2,051,524 ) $ 1,013,761

Issuance of common stock, net of issuance cost of $ 45

746,468 8 12,358 — — 12,366 Issuances under equity incentive plans 1,617,307 16 24,298 — — 24,314 Vesting of restricted stock units 1,711,988 17 ( 17 ) — — — Stock-based compensation — — 68,861 — — 68,861 Net loss — — — — ( 185,874 ) ( 185,874 ) Other comprehensive loss — — — ( 7,041 ) — ( 7,041 ) Balance at September 30, 2026 160,257,940 $ 1,929 $ 3,168,215 $ ( 6,359 ) $ ( 2,237,398 ) $ 926,387 Balance at June 30, 2026 159,755,526 $ 1,924 $ 3,142,747 $ ( 1,969 ) $ ( 2,307,524 ) $ 835,178 Issuances under equity incentive plans 132,382 1 2,613 — — 2,614 Vesting of restricted stock units 370,032 4 ( 4 ) — — — Stock-based compensation — — 22,859 — — 22,859 Net income — — — — 70,126 70,126 Other comprehensive loss — — — ( 4,390 ) — ( 4,390 ) Balance at September 30, 2026 160,257,940 $ 1,929 $ 3,168,215 $ ( 6,359 ) $ ( 2,237,398 ) $ 926,387 Balance at December 31, 2024 144,220,986 $ 1,768 $ 2,764,880 $ 2,020 $ ( 1,538,984 ) $ 1,229,684 Issuances under equity incentive plans 1,042,249 11 5,224 — — 5,235 Vesting of restricted stock units 1,362,487 14 ( 14 ) — — — Stock-based compensation — — 76,188 — — 76,188 Net loss — — — — ( 383,991 ) ( 383,991 ) Other comprehensive loss — — — ( 919 ) — ( 919 ) Balance at September 30, 2025 146,625,722 $ 1,793 $ 2,846,278 $ 1,101 $ ( 1,922,975 ) $ 926,197 Balance at June 30, 2025 145,685,442 $ 1,783 $ 2,820,404 $ 939 $ ( 1,796,073 ) $ 1,027,053

Issuances under equity incentive plans

586,914 6 577 — — 583 Vesting of restricted stock units 353,366 4 ( 4 ) — — —

Stock-based compensation

— — 25,301 — — 25,301 Net loss — — — — ( 126,902 ) ( 126,902 ) Other comprehensive income — — — 162 — 162 Balance at September 30, 2025 146,625,722 $ 1,793 $ 2,846,278 $ 1,101 $ ( 1,922,975 ) $ 926,197

See accompanying notes to unaudited condensed consolidated financial statements.

5

Table of Contents

Denali Therapeutics Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

Nine Months Ended

September 30,

2026

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Data on this page was fetched . The filing on SEC.gov is the record.