Company: DNLI
Filing Date: 2025-12-09
Form Type: 424B5
Source: 0001628280-25-056085
Chunk: 41

Company: Denali Therapeutics Inc.
Filing Date: 2025-12-09
Form: 424B5
Chunk 41
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 the underwriters.

| Underwriters               |     | Number of 
 Shares    |     |   |     | Number of Pre-Funded Warrants |     |   |
| Goldman Sachs & Co. LLC    |     |           |     | — |     |                               |     | — |
| J.P. Morgan Securities LLC |     |           |     | — |     |                               |     | — |
| Morgan Stanley & Co. LLC   |     |           |     | — |     |                               |     | — |
| Jefferies LLC              |     |           |     | — |     |                               |     | — |
| H.C. Wainwright & Co., LLC |     |           |     | — |     |                               |     | — |
| Total                      |     |           |     | — |     |                               |     | — |

The underwriters will be committed to take and pay for all of the shares being offered, if any are taken, other than the shares covered by the option described below unless and until this option is exercised.

The underwriters will have an option to buy up to approximately additional shares from us to cover sales by the underwriters of a greater number of shares than the total number set forth in the table above. They may exercise that option for 30 days. If any shares are purchased pursuant to this option, the underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.

The following table shows the per share and total underwriting discounts and commissions to be paid to the underwriters by us, and proceeds before expenses to us. Such amounts are shown assuming both no exercise and full exercise of the underwriters’ option to purchase additional shares.

|                                                         |     | Per Share |   |     | Per        
 Pre-Funded 
 Warrant    |   |     | Total       
 No Exercise |   |     | Full Exercise |   |
|:--------------------------------------------------------|:----|:----------|:--|:----|:-----------|:--|:----|:------------|:--|:----|:--------------|:--|
| Public offering price                                   |     | $         | — |     | $          | — |     | $           | — |     | $             | — |
| Underwriting discounts and commissions to be paid by us |     | $         | — |     | $          | — |     | $           | — |     | $             | — |
| Proceed