Denali Therapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Collaboration revenue: | |||
| Collaboration revenue from customers(1) | $— | $330,531 | $105,065 |
| Other collaboration revenue | — | — | 3,398 |
| Total collaboration revenue | — | 330,531 | 108,463 |
| Operating expenses: | |||
| Research and development(2) | 396,440 | 423,876 | 358,732 |
| General and administrative | 105,438 | 103,354 | 90,475 |
| Total operating expenses | 501,878 | 527,230 | 449,207 |
| Gain from divestiture of small molecule programs | 14,537 | — | — |
| Loss from operations | (487,341) | (196,699) | (340,744) |
| Interest and other income, net | 64,636 | 51,505 | 14,774 |
| Loss before income taxes | (422,705) | (145,194) | (325,970) |
| Income tax expense | (68) | (30) | (21) |
| Net loss | (422,773) | (145,224) | (325,991) |
| Other comprehensive income (loss): | |||
| Net unrealized gain (loss) on marketable securities, net of tax | 1,377 | 7,529 | (4,387) |
| Comprehensive loss | $(421,396) | $(137,695) | $(330,378) |
| Net loss per share, basic and diluted | $(2.57) | $(1.06) | $(2.60) |
| Weighted average number of shares outstanding, basic and diluted | 164,473,772 | 137,370,897 | 125,530,703 |
(1)Includes related-party collaboration revenue from customers of $295.5 million, and $3.2 million for the years ended December 31, 2023 and 2022, 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.
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