Denali Therapeutics Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Collaboration revenue: | |||
| Collaboration revenue from customers(1) | $330,531 | $105,065 | $48,657 |
| Other collaboration revenue | — | 3,398 | 4 |
| Total collaboration revenue | 330,531 | 108,463 | 48,661 |
| Operating expenses: | |||
| Research and development(2) | 423,876 | 358,732 | 265,353 |
| General and administrative | 103,354 | 90,475 | 79,059 |
| Total operating expenses | 527,230 | 449,207 | 344,412 |
| Loss from operations | (196,699) | (340,744) | (295,751) |
| Interest and other income, net | 51,505 | 14,774 | 4,595 |
| Loss before income taxes | (145,194) | (325,970) | (291,156) |
| Income tax benefit (expense) | (30) | (21) | 575 |
| Net loss | (145,224) | (325,991) | (290,581) |
| Other comprehensive income (loss): | |||
| Net unrealized gain (loss) on marketable securities, net of tax | 7,529 | (4,387) | (2,254) |
| Comprehensive loss | $(137,695) | $(330,378) | $(292,835) |
| Net loss per share, basic and diluted | $(1.06) | $(2.60) | $(2.39) |
| Weighted average number of shares outstanding, basic and diluted | 137,370,897 | 125,530,703 | 121,524,795 |
(1)Includes related-party collaboration revenue from customers of $295.5 million, $3.2 million, and $3.7 million for the years ended December 31, 2023, 2022 and 2021 respectively.
(2)Includes expense for cost sharing payments to a related party of $17.7 million and $8.2 million for the years ended December 31, 2023 and 2022, respectively, and an offset to expense from related-party cost reimbursements of $6.5 million for the year ended December 31, 2021.
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