Company: DNLI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001714899-25-000105
Chunk: 105

Company: Denali Therapeutics Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 105
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 permitted. The amendments can be applied either prospectively or retrospectively. The Company has not early adopted this update, and is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

2.    Fair Value Measurements

Assets and liabilities measured at fair value at each balance sheet date are as follows (in thousands):March 31, 2025Level 1Level 2Level 3TotalAssets:Cash equivalents:Money market funds$44,248 $— $— $44,248 Short-term marketable securities:U.S. government treasuries721,065 — — 721,065 Corporate debt securities— 39,914 — 39,914 Long-term marketable securities:U.S. government treasuries216,459 — — 216,459 Corporate debt securities— 19,385 — 19,385 Total$981,772 $59,299 $— $1,041,071 December 31, 2024Level 1Level 2Level 3TotalAssets:Cash equivalents:Money market funds$126,728 $— $— $126,728 Short-term marketable securities:U.S. government treasuries629,400 — — 629,400 Corporate debt securities— 21,399 — 21,399 Commercial paper— 6,572 — 6,572 Long-term marketable securities:U.S. government treasuries334,892 — — 334,892 Corporate debt securities— 24,481 — 24,481 Total$1,091,020 $52,452 $— $1,143,472 The 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 three months ended March 31, 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 March 31, 2025 and December 31, 2024. On a recurring basis, the Company records its marketable securities at fair value using Level 1 or Level