Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 203

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 203
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 Consolidated Balance Sheets as of both September 30, 2025 and December 31, 2024.

20

11.    Segment Information

The Company has one operating segment with the goal to discover, develop and commercialize therapeutics (“Therapeutics”). There have been no material changes to the Company's segment structure, the basis of segmentation, or the measurement basis for segment profit or loss or segment assets, compared to those disclosed in Note 14, "Segment Information", to the consolidated financial statements in the Company's 2024 Annual Report on Form 10-K. The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2025 and 2024 (in thousands):Therapeutics SegmentThree Months Ended September 30,Nine Months Ended September 30,2025202420252024ExpensesExternal research and development expenses - TV programs, including cost sharing$35,157 $35,436 $119,209 $101,367 External research and development expenses - small molecule programs, including cost sharing2,048 12,227 13,689 37,944 Other research and development expenses23,008 15,257 65,714 45,643 Personnel related research and development expenses41,737 35,318 122,261 111,699 Total research and development expenses101,950 98,238 320,873 296,653 Personnel related general and administrative expenses22,079 17,643 60,932 53,833 Other general and administrative expenses13,405 7,306 36,172 21,546 Total general and administrative expenses35,484 24,949 97,104 75,379 Segment operating expenses137,434 123,187 417,977 372,032 Segment gain from divestiture of small molecule programs— — — 14,537 Segment loss from operations(137,434)(123,187)(417,977)(357,495)Segment interest and other income, net10,532 15,995 33,986 49,475 Segment loss before income taxes$(126,902)$(107,192)$(383,991)$(308,020)

There is no difference between the segment loss before income taxes and total consolidated loss before income taxes for the three and nine months ended September 30,