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Companies / Healthcare / Denali Therapeutics Inc.
DNLI

Denali Therapeutics Inc.

HealthcareBiological Products
Ticker DNLISOUTH SAN FRANCISCO, CAFiscal year ends DecemberBook value per share $4.47Diluted shares 187.0M

Denali Therapeutics Inc. (NASDAQ: DNLI) is a biopharmaceutical company focused on discovering, developing, and delivering medicines for serious diseases, particularly those affecting the central nervous system. The company's core innovation is its proprietary TransportVehicle (TV) platform technology, which enables… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$0.00M
0.00%
$-512.54M
−21.2% year over year
Last 12 mo $-511.45M
-50.56%
−16.2 percentage points
Last 12 mo -61.24%
Cash & financing
$-412.60M
−18.7% year over year
Last 12 mo $-434.04M
$-422.10M
−16.1% year over year
Last 12 mo $-437.46M
0.01
Was 0.00× a year earlier
Last 12 mo 0.01
172.6M
+5.0% year over year
Last 12 mo 187.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Denali Therapeutics Inc. does

In the company’s own words

Denali Therapeutics Inc. (NASDAQ: DNLI) is a biopharmaceutical company focused on discovering, developing, and delivering medicines for serious diseases, particularly those affecting the central nervous system. The company's core innovation is its proprietary TransportVehicle (TV) platform technology, which enables the delivery of large molecule biotherapeutics across the blood-brain barrier through receptor-mediated transcytosis. This modular platform can transport enzymes, oligonucleotides, antibodies, and other proteins to the brain and throughout the body following systemic administration.

The company's therapeutic portfolio spans three primary franchise areas. The Enzyme TransportVehicle (ETV) franchise targets lysosomal storage disorders and represents the company's nearest commercial opportunity, with tividenofusp alfa for mucopolysaccharidosis II (Hunter syndrome) under FDA review with a PDUFA target action date of April 5, 2026, and DNL126 for mucopolysaccharidosis IIIA (Sanfilippo syndrome type A) in Phase 1/2 development. The Oligonucleotide TransportVehicle (OTV) and Antibody TransportVehicle (ATV) franchises address neurodegenerative diseases including Alzheimer's disease and Parkinson's disease. Additional programs target frontotemporal dementia, Pompe disease, and Gaucher disease.

Denali operates a hybrid manufacturing strategy utilizing both internal capabilities and external contract manufacturers. In March 2025, the company opened a clinical biomanufacturing facility in Salt Lake City, Utah. The company maintains active collaborations with major pharmaceutical partners including Biogen for LRRK2 inhibitor development and Takeda for granulin replacement therapy development.

The company's strategic framework, termed D3X3, targets delivery of two commercial brands, achievement of five clinical proof-of-concept readouts, and advancement of four to six additional TV-enabled programs into clinical development over a three-year period. Denali's business model emphasizes platform validation transitioning to commercial delivery and scalable growth, with revenue from rare disease launches intended to fund development of programs in larger indication markets.

Company details
Sector
Healthcare
Industry
Biological Products
Headquarters
SOUTH SAN FRANCISCO, CA
Fiscal year end
December
CIK
1714899
SIC
2836

Financial performance, year by year

Fiscal 2018–2025 · USD
$-597.36M$-342.90M$-88.44M$166.02M$420.48M20182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Denali Therapeutics Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

278
funds hold it
0 of 35
superinvestors hold it
$1.55B
held by funds, at market
40.2%
of shares held by funds

Largest fund holders · Denali Therapeutics Inc.’s weight in each

T. Rowe Price Capital Appreciation Fund
PRWCX · T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.
0.18%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.12%of fund net assets
0.83%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.04%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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