Company: DNLI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001714899-25-000170
Chunk: 214

Company: Denali Therapeutics Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 214
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 development expenses$102,696 $91,399 $11,297 12 %

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(1)Personnel related expenses include stock-based compensation expense of $15.2 million and $14.4 million for the three months ended June 30, 2025 and 2024, respectively, reflecting an increase of $0.8 million.

The increase in research and development expenses of approximately $11.3 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, was primarily attributable to the following:

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•an increase of $7.3 million in TV program external research and development expenses, primarily attributable to increased spend on multiple preclinical programs;

•an increase of $7.6 million in other research and development expenses, including lab consumables, consultants and general facilities costs, driven by the commencement of operations at our large molecule manufacturing facility in Salt Lake City, Utah; and

•an increase of $6.2 million in personnel-related expenses, including salaries and stock-based compensation, primarily driven by higher headcount related to the commencement of operations at our large molecule manufacturing facility in Salt Lake City, Utah. 

These increases were partially offset by a $9.8 million decrease in small molecule external research and development expenses, primarily due to the winding down of activities related to the Phase 2/3 HEALEY ALS Platform Trial.

Six Months Ended June 30, 2025Change20252024$%External research and development expenses - TV programs, including cost sharing$84,052 $65,931 $18,121 27 %External research and development expenses - small molecule programs, including cost sharing11,641 25,717 (14,076)(55)Other research and development expenses42,706 30,386 12,320 41 Personnel related expenses(1)80,524 76,381 4,143 5 Total research and development expenses$218,923 $198,415 $20,508 10 %

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(1)Personnel related expenses include stock-based compensation expense of $30.3 million and $30.7 million for the six months ended June 30, 2025 and 2024, respectively, reflecting a decrease of $0.4 million.

The increase in research and development expenses of approximately $20.5 million for the six months ended June 30, 202