Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 433

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 433
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 30,Change20252024$%Operating expenses:Research and development$101,950 $98,238 $3,712 4 %General and administrative35,484 24,949 10,535 42 Total operating expenses137,434 123,187 14,247 12 Loss from operations(137,434)(123,187)(14,247)12 Interest and other income, net10,532 15,995 (5,463)(34)Net loss$(126,902)$(107,192)$(19,710)18 %

Nine Months Ended September 30, 2025Change20252024$%Operating expenses:Research and development$320,873 $296,653 $24,220 8 %General and administrative97,104 75,379 21,725 29 Total operating expenses417,977 372,032 45,945 12 Gain from divestiture of small molecule programs— 14,537 (14,537)*Loss from operations(417,977)(357,495)(60,482)17 Interest and other income, net33,986 49,475 (15,489)(31)Net loss$(383,991)$(308,020)$(75,971)25 %

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*Percentage is not meaningful.

Research and development expenses. Research and development expenses were $102.0 million and $320.9 million for the three and nine months ended September 30, 2025, compared to $98.2 million and $296.7 million for the three and nine months ended September 30, 2024, respectively.

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

Three Months Ended September 30,Change20252024$%External research and development expenses - TV programs, including cost sharing$35,157 $35,436 $(279)(1)%External research and development expenses - small molecule programs, including cost sharing2,048 12,227 (10,179)(83)Other research and development expenses23,008 15,257 7,751 51 Personnel related expenses(1)41,737 35,318 6,419 18 Total research and development expenses$101,950 $98,238 $3,712 4 %

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(1)Personnel related