Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 412

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 412
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 Company’s Level 2 securities are valued using third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly.The Company has not transferred any assets or liabilities between the fair value measurement levels for the nine months ended September 30, 2025 or for the year ended December 31, 2024.

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3.    Marketable Securities

All marketable securities were considered available-for-sale at September 30, 2025 and December 31, 2024. On a recurring basis, the Company records its marketable securities at fair value using Level 1 or Level 2 inputs as discussed in Note 2, "Fair Value Measurements". The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s marketable securities by major security type at each balance sheet date are summarized in the tables below (in thousands):September 30, 2025Amortized CostUnrealized Holding GainsUnrealized Holding LossesAggregate Fair ValueShort-term marketable securities:U.S. government treasuries$719,784 $1,276 $(2)$721,058 Corporate debt securities36,094 89 — 36,183 Total short-term marketable securities755,878 1,365 (2)757,241 Long-term marketable securities:Corporate debt securities24,614 89 — 24,703 Total long-term marketable securities24,614 89 — 24,703 Total$780,492 $1,454 $(2)$781,944 December 31, 2024Amortized CostUnrealized Holding GainsUnrealized Holding LossesAggregate Fair ValueShort-term marketable securities:U.S. government treasuries$627,809 $1,618 $(27)$629,400 Corporate debt securities21,337 62 — 21,399 Commercial paper6,572 — — 6,572 Total short-term marketable securities655,718 1,680 (27)657,371 Long-term marketable securities:U.S. government treasuries334,300 788 (196)334,892 Corporate debt securities24,354 127 — 24,481 Total long-term marketable securities358,654 915 (196)359,