Denali Therapeutics Inc. - DNLI STOCK NEWS

Denali Therapeutics (Nasdaq: DNLI) reported its Q3 2022 results, showing a net loss of $103.3 million, an increase from $84.6 million in Q3 2021. Collaboration revenue decreased to $3.6 million from $5.3 million, primarily due to a decline in Takeda collaboration revenue. R&D expenses rose to $87.8 million, driven by increased activity in clinical programs. Denali also completed a public offering, raising $296.2 million. The company remains focused on developing treatments for neurodegenerative diseases with seven therapeutic candidates.

Denali Therapeutics (NASDAQ: DNLI) announced interim results from Part A of a Phase 1/2 study for DNL593, showing dose-dependent increases in cerebrospinal fluid (CSF) progranulin levels in healthy volunteers, indicating effective brain delivery. The single doses were generally well tolerated, supporting progression to Part B, which will involve participants with frontotemporal dementia (FTD-GRN). Currently, there are no approved treatments for FTD, underscoring the potential significance of DNL593 as a progranulin replacement therapy.

Denali Therapeutics (NASDAQ: DNLI) announced the successful closing of its upsized public offering of 11,933,962 shares at $26.50 each, generating approximately $316 million before expenses. The offering included full exercise of the underwriters' option for additional shares. Major underwriters included Goldman Sachs, J.P. Morgan, and Jefferies. This offering is part of Denali's strategy to enhance its financial resources as it develops therapies targeting neurodegenerative diseases through innovative approaches.

Denali Therapeutics (NASDAQ: DNLI) has announced the pricing of a public offering, selling 10,377,359 shares of common stock at $26.50 per share. The offering is expected to generate approximately $275 million in gross proceeds, excluding underwriter options for an additional 1,556,603 shares. The offering is anticipated to close on or about October 24, 2022. Goldman Sachs, J.P. Morgan, and Jefferies are leading the underwriting. Proceeds will support Denali's development of products targeting neurodegenerative diseases.

Denali Therapeutics announced plans to offer $250 million in common stock through an underwritten public offering. The company will also provide underwriters a 30-day option to purchase an additional 15% of the shares. This offering is subject to market conditions and other factors. Goldman Sachs, J.P. Morgan, and Jefferies are the joint book-running managers for the offering. The shares will be offered under Registration Statement Form S-3, with terms to be finalized in a subsequent prospectus supplement.

Denali Therapeutics and Biogen have initiated the global Phase 3 LIGHTHOUSE study to assess the efficacy and safety of BIIB122 (DNL151), a small molecule inhibitor targeting LRRK2 mutations in Parkinson's disease. With around 400 participants, the trial will last up to 180 weeks and primarily measure the time to confirmed worsening of symptoms via the MDS-UPDRS scale. This landmark trial aims to test the genetic hypothesis of LRRK2's role in Parkinson's and could provide significant insights into treating this neurodegenerative disease.

Denali Therapeutics announced promising interim results from its Phase 1/2 trial of DNL310 for Hunter syndrome. The data shows sustained normalization of CSF heparan sulfate levels and improvements in biomarkers of lysosomal function over a year. Most participants reported stabilization or improvement in symptoms. With a safety profile comparable to standard care after up to 85 weeks of treatment, Denali is actively enrolling patients for the Phase 2/3 COMPASS study. The trial aims to further demonstrate DNL310's efficacy and its potential to treat cognitive and behavioral symptoms associated with Hunter syndrome.

Denali Therapeutics Inc. (NASDAQ: DNLI) reported its second quarter 2022 financial results, showing a net loss of $58.8 million, a slight improvement from a $60.7 million loss in Q2 2021. Collaboration revenue surged to $52.5 million, up from $22.9 million, mainly due to significant milestones from ongoing clinical developments. Denali's portfolio includes three BBB Transport Vehicle programs and seven overall in clinical trials. Their ongoing clinical studies in ALS and other neurodegenerative diseases are progressing, with upcoming data presentations expected in late 2022.

Denali Therapeutics (NASDAQ: DNLI) and Biogen have initiated the global Phase 2b LUMA study evaluating BIIB122 for early-stage Parkinson’s disease. The study aims to enroll about 640 participants aged 30 to 80 and assesses the drug's efficacy compared to a placebo. The primary endpoint focuses on changes in movement disorder scales. BIIB122 is a novel LRRK2 inhibitor, targeting a critical biological pathway in Parkinson’s disease, which affects millions worldwide. The collaboration marks a significant milestone in developing potential treatments for this condition.