DNLI

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Denali Therapeutics Inc.

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Key Metrics

Previous Close: $25.69
52-Week Range: $12.58 – $27.30
Market Cap: $3.99B
P/E (TTM): —
EPS (TTM): -2.84
Dividend Yield: —

Advanced Metrics

Price/Book: 4.77
PEG Ratio: —
Return on Equity: -54.93%
Return on Assets: -29.15%
Gross Margin: 0.00%
Operating Margin: -3601.30%
Profit Margin: 0.00%
Current Ratio: 8.37
Debt/Equity: 0.05
Total Debt: $37.69M
Free Cash Flow: $-268.53M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $3.43B

DNLI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$108.46M	$330.53M	$0.00	$0.00
Research & Development	$358.73M	$423.88M	$396.44M	$418.78M
Selling, General & Admin	$90.47M	$103.35M	$105.44M	$136.56M
Operating Expenses	$449.21M	$527.23M	$501.88M	$555.34M
Operating Income	-$340.74M	-$196.70M	-$501.88M	-$555.34M
EBITDA	-$330.36M	-$179.97M	-$492.89M	-$540.53M
Pretax Income	-$325.97M	-$145.19M	-$422.70M	-$512.44M
Income Tax	$21.00K	$30.00K	$68.00K	$102.00K
Net Income	-$325.99M	-$145.22M	-$422.77M	-$512.54M
Diluted EPS	-2.60	-1.06	-2.57	-2.97
Diluted Shares	125.53M	137.37M	164.47M	172.65M

DNLI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$218.04M	$127.11M	$174.96M	$205.33M
Receivables	$9.28M	$3.42M	$2.17M	$2.18M
Current Assets	$1.37B	$1.06B	$864.44M	$900.66M
Total Assets	$1.46B	$1.15B	$1.37B	$1.14B
Current Liabilities	$363.92M	$77.98M	$102.21M	$98.35M
Total Debt	$60.35M	$52.24M	$48.71M	$36.76M
Total Liabilities	$417.81M	$122.96M	$144.50M	$131.09M
Retained Earnings	-$970.99M	-$1.12B	-$1.54B	-$2.05B
Shareholders' Equity	$1.04B	$1.03B	$1.23B	$1.01B
Working Capital	$1.01B	$986.15M	$762.23M	$802.31M

DNLI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$244.72M	-$357.99M	-$347.69M	-$412.60M
Capital Expenditure	-$17.83M	-$12.94M	-$15.91M	-$9.50M
Free Cash Flow	-$262.55M	-$370.93M	-$363.61M	-$422.10M
Depreciation & Amortisation	$10.38M	$16.73M	$8.99M	$14.81M
Stock-Based Compensation	$99.85M	$108.10M	$102.88M	$99.63M
Investing Cash Flow	-$141.39M	$249.31M	-$88.76M	$255.28M
Financing Cash Flow	$310.67M	$17.82M	$484.30M	$189.22M
Net Change in Cash	-$75.43M	-$90.86M	$47.85M	$31.90M

DNLI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$116.23M	$102.70M	$101.95M	$97.91M	$103.85M
Selling, General & Admin	$29.35M	$32.27M	$35.48M	$39.46M	$33.51M
Operating Expenses	$145.58M	$134.96M	$137.43M	$137.37M	$137.36M
Operating Income	-$145.58M	-$134.96M	-$137.43M	-$137.37M	-$137.36M
EBITDA	-$142.37M	-$131.01M	-$133.57M	-$133.58M	-$133.60M
Pretax Income	-$132.97M	-$124.12M	-$126.90M	-$128.45M	-$128.45M
Net Income	-$132.97M	-$124.12M	-$126.90M	-$128.55M	-$128.45M
Diluted EPS	-0.78	-0.72	-0.74	-0.73	-0.69
Diluted Shares	171.22M	171.45M	172.42M	175.46M	186.64M

DNLI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$56.95M	$141.21M	$90.96M	$205.33M	$387.63M
Receivables	—	—	—	$2.18M	—
Current Assets	$878.64M	$934.71M	$882.60M	$900.66M	$1.02B
Total Assets	$1.27B	$1.17B	$1.06B	$1.14B	$1.27B
Current Liabilities	$91.88M	$91.06M	$90.15M	$98.35M	$110.16M
Total Debt	$48.63M	$46.56M	$44.40M	$36.76M	$34.54M
Total Liabilities	$148.66M	$139.19M	$129.42M	$131.09M	$339.93M
Retained Earnings	-$1.67B	-$1.80B	-$1.92B	-$2.05B	-$2.18B
Shareholders' Equity	$1.12B	$1.03B	$926.20M	$1.01B	$926.10M
Working Capital	$786.76M	$843.65M	$792.45M	$802.31M	$912.60M

DNLI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$131.47M	-$75.30M	-$107.30M	-$98.54M	-$131.20M
Capital Expenditure	-$5.08M	-$4.28M	—	-$1.52M	-$2.47M
Free Cash Flow	-$136.55M	-$79.58M	-$105.92M	-$100.06M	-$133.67M
Depreciation & Amortisation	$3.21M	$3.96M	$3.86M	$3.78M	$3.76M
Stock-Based Compensation	$25.16M	$25.39M	$25.14M	$23.95M	$23.09M
Investing Cash Flow	$18.75M	$157.94M	$57.83M	$20.77M	$94.46M
Financing Cash Flow	-$3.76M	$1.62M	-$778.00K	$192.13M	$219.04M
Net Change in Cash	-$116.48M	$84.26M	-$50.24M	$114.36M	$182.30M

Market Snapshot

About

Denali Therapeutics Inc. is a biopharmaceutical company developing therapies for neurodegenerative diseases. The company focuses on conditions including Alzheimer's disease, Parkinson's disease, ALS, and other diseases of the brain and nervous system. Denali's proprietary technology platforms include enzyme transport vehicles (ETV) for delivering therapeutics across the blood-brain barrier and other approaches targeting neurodegeneration. The company has multiple programs in clinical development and research collaborations with major pharmaceutical partners.