| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -128,447 | -128,549 | -126,902 | -257,089 |
| Depreciation and amortization | 2,845 | 2,866 | 2,947 | 5,370 |
| Stockbased compensation expense | 23,087 | 23,951 | 25,135 | 50,547 |
| Net accretion of discounts on marketable securities | 1,259 | 1,642 | 2,026 | 6,585 |
| Non-cash gain from divestiture of small molecule programs | NaN | 0 | 0 | 0 |
| Non-cash adjustment to operating lease expense | 1,144 | 1,145 | 1,144 | 2,161 |
| Right-of-use asset amortization for finance lease | 916 | 916 | 915 | 1,798 |
| Other non-cash items | -294 | -49 | NaN | NaN |
| Prepaid expenses and other current assets | 2,291 | -1,747 | -1,363 | 3,650 |
| Other non-current assets | 700 | 533 | 1,717 | -3,022 |
| Accounts payable | 3,875 | -3,408 | -4,069 | -43 |
| Accruals and other current liabilities | -22,395 | 12,727 | 1,889 | -14,151 |
| Related party contract liability | NaN | 0 | NaN | NaN |
| Deferred research and development funding liability | -5,985 | -5,517 | -3,687 | 16,176 |
| Other non-currentliabilities | NaN | 0 | NaN | NaN |
| Net cash used in operating activities | -131,204 | -98,538 | -107,296 | -206,766 |
| Purchases of marketable securities | 123,074 | 252,708 | 50,629 | 137,926 |
| Maturities and sales of marketable securities | 220,000 | 275,000 | 107,081 | 323,965 |
| Purchases of property and equipment | 2,466 | 1,524 | -1,378 | 9,356 |
| Net cash provided by investing activities | 94,460 | 20,768 | 57,830 | 176,683 |
| Proceeds from issuance / public offering of common stock and pre-funded warrants, net of issuance costs of-Private Placement | NaN | 0 | NaN | NaN |
| Proceeds from underwriter exercising option to purchase common stock, net of issuance costs | 12,366 | NaN | 0 | 0 |
| Proceeds from issuance / public offering of common stock and pre-funded warrants, net of issuance costs of-Public Offering | NaN | 189,249 | NaN | NaN |
| Proceeds from sale of revenue participation right | 200,000 | NaN | NaN | NaN |
| Proceeds from exercise of awards under equity incentive plans | 6,695 | 3,224 | 583 | 4,652 |
| Payments for finance lease right-of-use asset | 17 | 16 | 1,361 | 6,791 |
| Issuance costs related to the royalty financing | NaN | 324 | NaN | NaN |
| Net cash provided by (used in) financing activities | 219,044 | 192,133 | -778 | -2,139 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 182,300 | 114,363 | -50,244 | -32,222 |
| Cash, cash equivalents and restricted cash at beginning of period | 208,432 | 94,069 | 176,535 | NaN |
| Cash, cash equivalents and restricted cash at end of period | 390,732 | 208,432 | 94,069 | NaN |
Denali Therapeutics Inc. (DNLI)
Denali Therapeutics Inc. (DNLI)