Release Details
Denali Therapeutics Reports First Quarter 2019 Financial Results
First Quarter 2019 Financial Results
For the three months ended
Collaboration revenue was
Total research and development expenses were
General and administrative expenses were
Cash, cash equivalents, and marketable securities were
About
Denali is a biopharmaceutical company developing a broad portfolio of product candidates for neurodegenerative diseases. Denali pursues new treatments by rigorously assessing genetically validated targets, engineering delivery across the blood-brain barrier and guiding development with biomarker monitoring to demonstrate target engagement and select patients. Denali is based in
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except share and per share amounts)
Three Months Ended March 31, | |||||||
2019 | 2018 | ||||||
Collaboration revenue | $ | 4,205 | $ | 641 | |||
Operating expenses: | |||||||
Research and development | 37,403 | 20,819 | |||||
General and administrative | 9,310 | 5,570 | |||||
Total operating expenses | 46,713 | 26,389 | |||||
Loss from operations | (42,508 | ) | (25,748 | ) | |||
Interest and other income, net | 3,516 | 2,070 | |||||
Net loss | $ | (38,992 | ) | $ | (23,678 | ) | |
Net loss per share, basic and diluted | $ | (0.41 | ) | $ | (0.26 | ) | |
Weighted average number of shares outstanding, basic and diluted | 94,984,503 | 89,560,576 | |||||
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands)
March 31, 2019 | December 31, 2018 | |||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 39,661 | $ | 77,123 | ||
Short-term marketable securities | 445,820 | 387,174 | ||||
Prepaid expenses and other current assets | 14,052 | 16,539 | ||||
Total current assets | 499,533 | 480,836 | ||||
Long-term marketable securities | 97,554 | 147,881 | ||||
Property and equipment, net | 36,955 | 25,162 | ||||
Operating lease right-of-use asset | 34,407 | — | ||||
Other non-current assets | 8,147 | 8,105 | ||||
Total assets | $ | 676,596 | $ | 661,984 | ||
Liabilities and stockholders' equity | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 3,662 | $ | 1,891 | ||
Accrued liabilities | 12,114 | 8,520 | ||||
Accrued compensation | 3,213 | 9,952 | ||||
Contract liabilities | 23,148 | 11,427 | ||||
Other current liabilities | 1,107 | 996 | ||||
Total current liabilities | 43,244 | 32,786 | ||||
Contract liabilities, less current portion | 44,852 | 57,350 | ||||
Operating lease liability, less current portion | 71,412 | — | ||||
Deferred rent, less current portion | — | 24,532 | ||||
Other non-current liabilities | 440 | 471 | ||||
Total liabilities | 159,948 | 115,139 | ||||
Total stockholders' equity | 516,648 | 546,845 | ||||
Total liabilities and stockholders’ equity | $ | 676,596 | $ | 661,984 | ||
Denali Media Relations Contacts:
Morgan Warners
(202) 337-0808
mwarners@gpg.com
(646) 495-2706
lhyland@gpg.com
Source: Denali Therapeutics Inc.