Denali Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Collaboration revenue: | ||||
| Collaboration revenue from customers(1) | $— | $1,267 | $— | $330,531 |
| Total collaboration revenue | — | 1,267 | — | 330,531 |
| Operating expenses: | ||||
| Research and development(2) | 98,238 | 89,737 | 296,653 | 316,073 |
| General and administrative | 24,949 | 25,325 | 75,379 | 78,585 |
| Total operating expenses | 123,187 | 115,062 | 372,032 | 394,658 |
| Gain from divestiture of small molecule programs | — | — | 14,537 | — |
| Loss from operations | (123,187) | (113,795) | (357,495) | (64,127) |
| Interest and other income, net | 15,995 | 14,442 | 49,475 | 38,376 |
| Net loss | (107,192) | (99,353) | (308,020) | (25,751) |
| Other comprehensive income (loss): | ||||
| Net unrealized gain on marketable securities, net of tax | 8,188 | 790 | 4,886 | 6,235 |
| Comprehensive loss | $(99,004) | $(98,563) | $(303,134) | $(19,516) |
| Net loss per share, basic and diluted | $(0.63) | $(0.72) | $(1.89) | $(0.19) |
| Weighted average number of shares outstanding, basic and diluted | 169,456,988 | 137,644,534 | 162,589,325 | 137,076,199 |
(1)Includes related-party collaboration revenue from customers of $1.3 million and $295.5 million for the three and nine months ended September 30, 2023, respectively.
(2)Includes expenses for cost sharing payments due to a related party of $3.4 million and $14.5 million for the three and nine months ended September 30, 2023, respectively.
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