Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 201

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 201
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Weighted-Average Fair Value at Date of Grant per ShareUnvested at December 31, 20244,128,514 $27.33 Granted2,572,097 18.84 Vested and released(1,362,487)32.32 Forfeited(160,762)21.84 Unvested and expected to vest at September 30, 20255,177,362 $21.97 Stock-Based Compensation ExpenseThe Company’s results of operations include expenses relating to stock-based compensation as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Research and development$15,178 $14,141 $45,503 $44,847 General and administrative9,957 10,719 30,179 32,953 Total$25,135 $24,860 $75,682 $77,800 

9.    Net Loss Per Share

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share amounts):

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Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Numerator:Net loss$(126,902)$(107,192)$(383,991)$(308,020)Denominator:Weighted average number of:Common stock shares outstanding146,375,427 143,410,923 145,656,118 142,151,719 Private placement pre-funded warrants26,046,065 26,046,065 26,046,065 20,437,606 Total172,421,492 169,456,988 171,702,183 162,589,325 Net loss per share$(0.74)$(0.63)$(2.24)$(1.89)Potentially dilutive securities, including options issued and outstanding, Employee Stock Purchase Plan (“ESPP”) shares issuable, and restricted shares subject to future vesting that were not included in the diluted per share calculations for the periods presented because they would be anti-dilutive totaled approximately 27.4 million and