Company: DNLI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001714899-25-000170
Chunk: 197

Company: Denali Therapeutics Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 197
---
, Takeda delivered notice of its election to terminate the ATV:TREM2 collaboration program on February 26, 2025, as per the terms of the Takeda Option and Collaboration Agreement. The ATV:TREM2 program termination became effective 60 days following the notice date, and subsequently, there are no future milestones, cost, or profit sharing related to this agreement.As of June 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 June 30,Six Months Ended June 30,2025202420252024Takeda Collaboration Agreement:PTV:PGRN cost sharing (reimbursements)$(1,439)$(1,138)$(2,935)$(2,338)ATV:TREM2 cost sharing (reimbursements)(10)(215)(147)(728)Total Takeda cost sharing (reimbursements)(1)(1,449)(1,353)(3,082)(3,066)Biogen Collaboration Agreement: LRRK2 cost sharing payments(2)4,229 4,440 8,880 9,229 Net cost sharing payments (reimbursements)$2,780 $3,087 $5,798 $6,163 _________________________________(1)Cost sharing reimbursements of $1.4 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 June 30, 2025 and December 31, 2024, respectively. (2)Cost sharing payments due to Biogen of $4.2 million and $2.5 million were recorded within accounts payable on the Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024, respectively.

15

6.