Denali Therapeutics Inc.
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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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, 2026 · Filed Nov 3, 2026
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)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net loss | $(185,874) | $(383,991) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 9,989 | 8,317 |
| Stock-based compensation expense | 68,861 | 75,682 |
| Net accretion of discounts on marketable securities | (3,722) | (8,611) |
| Non-cash adjustment to operating lease expense | (3,595) | (3,305) |
| Right-of-use asset amortization for finance lease | 2,747 | 2,713 |
| Gain on sale of priority review voucher, net | (194,000) | — |
| Non-cash interest expense related to revenue participation right liability | 11,725 | — |
| Other non-cash items | (1,252) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (18,882) | — |
| Inventory | (26,275) | — |
| Prepaid expenses and other current assets | 2,522 | (2,287) |
| Other non-current assets | (3,628) | 1,305 |
| Accounts payable | 13,007 | (4,112) |
| Accruals and other current liabilities | (12,591) | (12,262) |
| Deferred research and development funding liability | (4,681) | 12,489 |
| Net cash used in operating activities | (345,649) | (314,062) |
| Investing activities | ||
| Purchases of marketable securities | (749,801) | (188,555) |
| Maturities and sales of marketable securities | 602,655 | 431,046 |
| Purchases of property and equipment | (4,281) | (7,978) |
| Cash paid to acquire finite-lived intangible asset | (36,000) | — |
| Proceeds from sale of priority review voucher, net of transaction costs paid | 194,000 | — |
| Net cash provided by investing activities | 6,573 | 234,513 |
| Financing activities | ||
| Proceeds from underwriter exercising option to purchase common stock, net of issuance costs | 12,366 | — |
| Proceeds from sale of revenue participation right | 200,000 | — |
| Proceeds from exercise of awards under equity incentive plans | 24,314 | 5,235 |
| Payments for finance lease right-of-use asset | (60) | (8,152) |
| Net cash provided by (used in) financing activities | 236,620 | (2,917) |
| Net decrease in cash, cash equivalents and restricted cash | (102,456) | (82,466) |
| Cash, cash equivalents and restricted cash at beginning of period | 208,432 | 176,535 |
| Cash, cash equivalents and restricted cash at end of period | $105,976 | $94,069 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.