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Denali Therapeutics Inc., a biopharmaceutical company, discovers and develops therapeutics to treat neurodegenerative and lysosomal storage diseases. The company develops Eclitasertib (SAR443122/DNL758) RIPK1 inhibitor program for peripheral inflammatory diseases; BIIB122/DNL151 LRRK2 inhibitor program for Parkinson's disease; TAK-594/DNL593 program for frontotemporal dementia-granulin; DNL126 program for MPS IIIA (Sanfilippo Syndrome A); and DNL310 Tividenofusp alfa, an enzyme replacement therapy program for MPS II (Hunter Syndrome). Its Enzyme TransportVehicle (TV) programs include DNL952 for the treatment of Pompe disease; DNL111 for Parkinson's and Gaucher diseases; and DNL622 for Hurler syndrome (MPS I). The company's OTV programs also comprise DNL628 targeting tau for Alzheimer's disease; and DNL422 targeting alpha synuclein for Parkinson's disease, as well as antibody TV program includes DNL921 targeting Abeta for treating Alzheimer's disease. The company was formerly known as SPR Pharma Inc. and changed its name to Denali Therapeutics Inc. in March 2015. Denali Therapeutics Inc. was incorporated in 2013 and is headquartered in South San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-541M | $-513M | $-422M | -50.6% | - | 21.2% |
| 2024 | $0M | $-493M | $-423M | $-364M | -34.4% | -100.0% | 191.1% |
| 2023 | $331M | $-180M | $-145M | $-371M | -14.1% | 204.7% | -55.5% |
| 2022 | $108M | $-330M | $-326M | $-263M | -31.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 108.46 | 330.53 | 0 | 0 |
| Operating Revenue | - | 105.06 | 330.53 | 0 | 0 |
| Operating Expense | - | 449.21 | 527.23 | 501.88 | 555.34 |
| Research And Development | - | 358.73 | 423.88 | 396.44 | 418.78 |
| Selling General And Administration | - | 90.48 | 103.35 | 105.44 | 136.56 |
| Total Expenses | - | 449.21 | 527.23 | 501.88 | 555.34 |
| Operating Income | - | -340.74 | -196.70 | -501.88 | -555.34 |
| Total Operating Income As Reported | - | -340.74 | -196.70 | -487.34 | -555.34 |
| EBITDA | - | -330.36 | -179.97 | -492.89 | -540.53 |
| Normalized EBITDA | - | -330.36 | -179.97 | -507.42 | -540.53 |
| EBIT | - | -340.74 | -196.70 | -501.88 | -555.34 |
| Interest Income | - | 14.77 | 51.50 | 64.64 | 42.90 |
| Net Interest Income | - | 14.77 | 51.50 | 64.64 | 42.90 |
| Other Income Expense | - | - | - | 14.54 | - |
| Interest Income Non Operating | - | 14.77 | 51.50 | 64.64 | 42.90 |
| Net Non Operating Interest Income Expense | - | 14.77 | 51.50 | 64.64 | 42.90 |
| Pretax Income | - | -325.97 | -145.19 | -422.70 | -512.44 |
| Tax Provision | - | 0.02 | 0.03 | 0.07 | 0.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 3.05 | 0 |
| Net Income Continuous Operations | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Net Income From Continuing And Discontinued Operation | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Net Income From Continuing Operation Net Minority Interest | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Net Income | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Net Income Common Stockholders | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Net Income Including Noncontrolling Interests | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Normalized Income | - | -325.99 | -145.22 | -434.26 | -512.54 |
| Diluted NI Availto Com Stockholders | - | -325.99 | -145.22 | -422.77 | -512.54 |
| Basic Average Shares | 121.52 | 125.53 | 137.37 | 164.47 | - |
| Diluted Average Shares | 121.52 | 125.53 | 137.37 | 164.47 | - |
| Reconciled Depreciation | - | 10.38 | 16.73 | 8.99 | 14.81 |
| Total Unusual Items | - | 0 | 0 | 14.54 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | 14.54 | 0 |
| Special Income Charges | - | 0 | 0 | 14.54 | 0 |
| Gain On Sale Of Business | - | 0 | 0 | 14.54 | 0 |
| General And Administrative Expense | - | 90.48 | 103.35 | 105.44 | 136.56 |
| Other Gand A | - | 90.48 | 103.35 | 105.44 | 136.56 |
| Total Other Finance Cost | -4.60 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Denali Therapeutics Inc.this co. | DNLI | $3.2B | -6.24 | 3.15 | -50.6% | -5.60 |
| Beam Therapeutics Inc. | BEAM | $3.4B | -42.24 | 2.73 | -6.5% | -8.96 |
| Tango Therapeutics, Inc. | TNGX | $3.2B | -31.54 | 9.26 | -29.3% | -28.67 |
| Haemonetics Corporation | HAE | $3.2B | 32.62 | 3.99 | 12.2% | 15.47 |
| Relay Therapeutics, Inc. | RLAY | $3.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| -11.46 |
| 5.59 |
| -48.8% |
| -10.42 |
| Option Care Health, Inc. | OPCH | $3.2B | 15.18 | 2.38 | 15.6% | 10.27 |
| Alignment Healthcare, Inc. | ALHC | $3.1B | - | 17.38 | -0.4% | 62.69 |
| Dyne Therapeutics, Inc. | DYN | $3.0B | -6.82 | 3.13 | -45.9% | -5.30 |
| Warby Parker Inc. | WRBY | $3.0B | 1803.71 | 8.05 | 0.4% | 64.67 |
| Peer Median | - | -6.82 | 4.79 | -3.4% | 2.49 | |