Denali Therapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
DNLI$19.85-2.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net loss | $(422,773) | $(145,224) | $(325,991) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 7,795 | 16,726 | 10,383 |
| Stock-based compensation expense | 102,878 | 108,102 | 99,847 |
| Net accretion of discounts on marketable securities | (35,117) | (43,952) | (1,637) |
| Non-cash adjustment to operating lease expense | (4,074) | (3,719) | (3,351) |
| Right-of-use asset amortization for finance lease | 1,197 | — | — |
| Non-cash gain from divestiture of small molecule programs | (14,537) | — | — |
| Other non-cash items | — | 2 | 63 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other assets | (2,480) | (4,094) | (2,760) |
| Other non-current assets | 603 | — | — |
| Accounts payable | 1,437 | 2,431 | 2,274 |
| Accruals and other current liabilities | 17,377 | 2,648 | 10,918 |
| Contract liabilities | — | — | (31,313) |
| Related party contract liability | — | (290,532) | (3,149) |
| Other non-current liabilities | — | (379) | — |
| Net cash used in operating activities | (347,694) | (357,991) | (244,716) |
| Investing activities | |||
| Maturities of marketable securities | 1,157,120 | 2,075,947 | 991,486 |
| Purchases of marketable securities | (1,229,964) | (1,813,700) | (1,115,040) |
| Purchases of property and equipment | (15,912) | (12,939) | (17,833) |
| Net cash provided by (used in) investing activities | (88,756) | 249,308 | (141,387) |
| Financing activities | |||
| Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs of $480 | 499,253 | — | — |
| Proceeds from public offering of common stock, net of issuance costs | — | — | 296,215 |
| Proceeds from exercise of awards under equity incentive plans | 17,389 | 17,820 | 14,455 |
| Payments for finance lease right-of-use asset | (32,338) | — | — |
| Net cash provided by financing activities | 484,304 | 17,820 | 310,670 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 47,854 | (90,863) | (75,433) |
| Cash, cash equivalents and restricted cash at beginning of year | 128,681 | 219,544 | 294,977 |
| Cash, cash equivalents and restricted cash at end of year | $176,535 | $128,681 | $219,544 |
| Supplemental disclosures of cash flow information | |||
| Equity consideration received in the divestiture of small molecule programs (Note 13) | $15,000 | $— | $— |
| Increase in right-of-use asset due to lessor assets | $7,051 | $— | $— |
| Right-of-use asset obtained in exchange for new finance lease liabilities | $9,358 | $— | $— |
| Property and equipment purchases accrued but not yet paid | $1,192 | $553 | $1,464 |
| Cash paid for finance lease interest | $302 | $— | $— |
| Issuance costs incurred but not yet paid | $— | $— | $224 |
| Cash paid during the year for income taxes | $— | $3 | $47 |
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