Company: DNLI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001714899-25-000170
Chunk: 8

Company: Denali Therapeutics Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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24$%Operating expenses:Research and development$102,696 $91,399 $11,297 12 %General and administrative32,267 25,194 7,073 28 Total operating expenses134,963 116,593 18,370 16 Loss from operations(134,963)(116,593)(18,370)16 Interest and other income, net10,844 17,567 (6,723)(38)Net loss$(124,119)$(99,026)$(25,093)25 %

Six Months Ended June 30, 2025Change20252024$%Operating expenses:Research and development$218,923 $198,415 $20,508 10 %General and administrative61,620 50,430 11,190 22 Total operating expenses280,543 248,845 31,698 13 Gain from divestiture of small molecule programs— 14,537 (14,537)*Loss from operations(280,543)(234,308)(46,235)20 Interest and other income, net23,454 33,480 (10,026)(30)Net loss$(257,089)$(200,828)$(56,261)28 %

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*Percentage is not meaningful.

Research and development expenses. Research and development expenses were $102.7 million and $218.9 million for the three and six months ended June 30, 2025, compared to $91.4 million and $198.4 million for the three and six months ended June 30, 2024, respectively.

The following table provides a breakdown of our research and development expenses by category (in thousands):

Three Months Ended June 30,Change20252024$%External research and development expenses - TV programs, including cost sharing$37,594 $30,247 $7,347 24 %External research and development expenses - small molecule programs, including cost sharing2,787 12,596 (9,809)(78)Other research and development expenses22,060 14,504 7,556 52 Personnel related expenses(1)40,255 34,052 6,203 18 Total research and development expenses$102,696 $91,399 $11,297 12 %

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(1)Personnel related expenses include stock