Denali Therapeutics Inc
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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.
Mar 31, 2025 · Filed May 6, 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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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net loss | $(132,970) | $(101,802) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,325 | 2,162 |
| Stock–based compensation expense | 25,160 | 27,840 |
| Net accretion of discounts on marketable securities | (3,888) | (10,516) |
| Non-cash adjustment to operating lease expense | (1,049) | (957) |
| Right-of-use asset amortization for finance lease | 887 | — |
| Non-cash gain from divestiture of small molecule programs | — | (14,537) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (28,607) | (18,766) |
| Other non-current assets | (943) | — |
| Accounts payable | (2,639) | 635 |
| Accruals and other current liabilities | (6,477) | 2,321 |
| Deferred research and development funding liability, less current portion | 16,733 | — |
| Net cash used in operating activities | (131,468) | (113,620) |
| Investing activities | ||
| Purchases of marketable securities | (137,926) | (834,157) |
| Maturities and sales of marketable securities | 161,752 | 383,120 |
| Purchases of property and equipment | (5,078) | (2,150) |
| Net cash provided by (used in) investing activities | 18,748 | (453,187) |
| Financing activities | ||
| Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs of $480 | — | 499,253 |
| Proceeds from exercise of awards under equity incentive plans | 595 | 1,022 |
| Payments for finance lease right-of-use asset | (4,357) | — |
| Net cash (used in) provided by financing activities | (3,762) | 500,275 |
| Net decrease in cash, cash equivalents and restricted cash | (116,482) | (66,532) |
| Cash, cash equivalents and restricted cash at beginning of period | 176,535 | 128,681 |
| Cash, cash equivalents and restricted cash at end of period | $60,053 | $62,149 |
| Supplemental disclosures of cash flow information | ||
| Right-of-use asset obtained in exchange for new finance lease liabilities | $2,876 | $— |
| Cash paid for finance lease interest | $181 | $— |
| Equity consideration received in the divestiture of small molecule programs (Note 10) | $— | $15,000 |
| Property and equipment purchases accrued but not yet paid | $488 | $1,947 |
| Issuance costs incurred but not yet paid | $— | $394 |
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