Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 196

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 196
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 following the notice date, and subsequently, there are no future milestones, cost, or profit sharing related to this agreement.As of September 30, 2025, the Company had earned an aggregate of $10.0 million in option fee payments and $10.0 million in milestone payments from Takeda under the PTV:PGRN and ATV:TREM2 Collaboration Agreements, and had not recorded any product sales under either agreement. 

Cost Sharing Payments and ReimbursementsCost sharing payments to collaboration partners recorded as expenses in research and development expenses in the Condensed Consolidated Statements of Operations and Comprehensive Loss, and cost sharing reimbursements from collaboration partners recorded as an offset to expense in research and development expenses in the Condensed Consolidated Statements of Operations and Comprehensive Loss are as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Takeda Collaboration Agreement:PTV:PGRN cost sharing (reimbursements)$(1,929)$(1,211)$(4,864)$(3,549)ATV:TREM2 cost sharing (reimbursements)— (208)(147)(936)Total Takeda cost sharing (reimbursements)(1)(1,929)(1,419)(5,011)(4,485)Biogen Collaboration Agreement: LRRK2 cost sharing payments(2)4,100 4,965 12,980 14,194 Net cost sharing payments (reimbursements)$2,171 $3,546 $7,969 $9,709 _________________________________(1)Cost sharing reimbursements of $1.9 million and $1.5 million were recorded as a receivable within prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024, respectively. (2)Cost sharing payments due to Biogen of $4.1 million and $2.5 million were recorded within accounts payable on the Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024, respectively.

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6.     Commitments and Contingencies

Lease ObligationsIn May 2018, the Company entered into an operating lease for its corporate headquarters in South San Francisco (the "Headquarters Lease"). In April 2023, the Company entered into