Company: DNLI
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001628280-25-008647
Chunk: 21

Company: Denali Therapeutics Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 21
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 for any specific acquisitions or strategic transactions at this time.

Our management will have broad discretion in the application of the net proceeds from this offering, and the investors will be relying on the judgment of our management regarding the application of the net proceeds of this offering. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and anticipated growth of our business. Pending our use of net proceeds we receive from the offering, we intend to invest such net proceeds in money market funds and investment grade short to intermediate-term fixed income securities.

Our expected use of net proceeds from this offering represents our current intentions based upon our present plans and business condition. As of the date of this prospectus supplement, we cannot predict with certainty all of the particular uses for the net proceeds or the amounts that we will actually spend on the uses set forth above. We may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses, technologies, products or assets. Due to the many variables inherent to drug development at this time, such as the timing of patient enrollment and evolving regulatory requirements, we cannot currently predict the stage of development we expect the net proceeds to achieve for our clinical studies and product candidates.

The amount and timing of our actual expenditures will depend upon numerous factors, including the acceptance and subsequent review of the biologics license application (“BLA”) for Tividenofusp alfa (DNL310, ETV:IDS), the results of our research and development efforts, the timing and success of preclinical studies, our ongoing clinical studies or clinical studies we may commence in the future, the timing of regulatory submissions, and the establishment of our commercial infrastructure. As a result, our management will have broad discretion over the use of the net proceeds.

Pending the use of the net proceeds, we intend to invest the net proceeds in short to intermediate-term fixed income securities.

<div align='center'>S-9</div>

### DILUTION
If you invest in our common stock in this offering, your ownership interest will be diluted immediately to the extent of the difference between the price per share of our common stock you pay in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering.

Our historical net tangible book value as of December 31, 2024 was $1.2 billion, or $8.53 per share of our common stock. Our historical net tangible book value is the amount of our total tangible assets less our total liabilities. Historical