Company: DNLI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001714899-25-000105
Chunk: 418

Company: Denali Therapeutics Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 418
---
 of the three months ended March 31, 2025 and 2024 

The following table sets forth the significant components of our results of operations (in thousands):

Three Months Ended March 31,Change20252024$%Operating expenses:Research and development$116,227 $107,016 $9,211 9 %General and administrative29,353 25,236 4,117 16 Total operating expenses145,580 132,252 13,328 10 Gain from divestiture of small molecule programs— 14,537 (14,537)*Loss from operations(145,580)(117,715)(27,865)24 Interest and other income, net12,610 15,913 (3,303)(21)Net loss$(132,970)$(101,802)$(31,168)31 %

__________________________________________________

*Percentage is not meaningful.

Research and development expenses. Research and development expenses were $116.2 million and $107.0 million for the three months ended March 31, 2025 and 2024, respectively.

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

Three Months Ended March 31,Change20252024$%External research and development expenses - TV programs, including cost sharing$41,987 $35,684 $6,303 18 %External research and development expenses - small molecule programs, including cost sharing8,854 13,121 (4,267)(33)Other research and development expenses25,117 15,881 9,236 58 Personnel related expenses(1)40,269 42,330 (2,061)(5)Total research and development expenses$116,227 $107,016 $9,211 9 %

__________________________________________________

(1)Personnel related expenses include stock-based compensation expense of $15.1 million and $16.3 million for the three months ended March 31, 2025 and 2024, respectively, reflecting a decrease of $1.2 million.

The increase in research and development expenses of approximately $9.2 million for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, was primarily attributable to an increase of $6.3 million related to our TV programs, driven by increased spend on both clinical programs such as DNL