From GlobeNewswire:

Denali Therapeutics Inc. reported financial results for Q4 2023 and year ended Dec. 31, 2023, highlighting progress across their therapeutic portfolio. Late-stage trials in MPS II and ALS are on track for completion in 2024. Denali plans to expand TV-enabled portfolio to address neurodegenerative diseases. The company aims for quick approval of effective medicines.

Key updates include interim data on DNL310 for MPS II showing improvement in clinical outcomes and biomarkers, along with data on DNL343 for ALS. Sar443820/DNL788 study in ALS did not meet primary endpoint; similar study in MS ongoing. Collaboration and funding agreement announced for BIIB122/DNL151 in PD. Early-stage programs focus on MPS IIIA and FTD-GRN.

Denali continues to progress with various TV-enabled programs targeting Alzheimer’s, Parkinson’s, and lysosomal storage diseases. New OTV programs for Alzheimer’s and Parkinson’s are in the investigational stage. Advancements in antibody and discovery programs are ongoing. Denali also announced a securities agreement to raise approximately $500 million and plans to spin out its preclinical small molecule portfolio.

Financially, Denali reported net losses of $119.5 million for Q4 2023 and $145.2 million for the full year. Collaboration revenue decreased due to milestones in the Sanofi Collaboration. The company expects operating expenses in 2024 to be equal to or less than 2023. Cash, cash equivalents, and securities totaled $1.03 billion as of Dec. 31, 2023. Denali’s cash runway is expected to last until 2028.



Read more at GlobeNewswire:: Denali Therapeutics Reports Fourth Quarter and Full Year