Company: DNLI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001714899-25-000105
Chunk: 98

Company: Denali Therapeutics Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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 restricted stock units752,455 7 (7)— — — Stock-based compensation— — 27,987 — — 27,987 Net loss— — — — (101,802)(101,802)Other comprehensive loss— — — (1,939)— (1,939)Balance at March 31, 2024142,512,856 $1,751 $2,673,033 $(1,296)$(1,218,013)$1,455,475 Balance at December 31, 2024144,220,986 $1,768 $2,764,880 $2,020 $(1,538,984)$1,229,684 Issuances under equity incentive plans113,792 1 594 — — 595 Vesting of restricted stock units916,480 9 (9)— — — Stock-based compensation— — 25,360 — — 25,360 Net loss— — — — (132,970)(132,970)Other comprehensive income— — — 17 — 17 Balance at March 31, 2025145,251,258 $1,778 $2,790,825 $2,037 $(1,671,954)$1,122,686 

See accompanying notes to unaudited condensed consolidated financial statements.

5

Denali Therapeutics Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

Three Months EndedMarch 31,20252024Operating activitiesNet loss$(132,970)$(101,802)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization2,325 2,162 Stock–based compensation expense25,160 27,840 Net accretion of discounts on marketable securities(3,888)(10,516)Non-cash adjustment to operating lease expense(1,049)(957)Right-of-use asset amortization for finance lease887 — Non-cash gain from divestiture of small molecule programs— (14,537)Changes in operating assets and liabilities:Prepaid expenses and other current assets(28,607)(18,766)Other non-current assets(943)— Accounts payable(2,639)635