Quarterly ResultMay 7, 2026, 04:21 PM
Denali Q1 Net Loss $(128.4)M; Cash $387.6M; AVLAYAH Approval Triggers Funding
AI Summary
Denali Therapeutics reported a net loss of $(128.4) million, or $(0.69) per share, for Q1 2026, an improvement from $(133.0) million, or $(0.78) per share, in Q1 2025. The company's cash and cash equivalents increased to $387.6 million as of March 31, 2026, significantly boosted by $200.0 million in funding from a revenue participation right agreement following the US FDA's accelerated approval of AVLAYAH. Total liabilities increased to $339.9 million due to this new liability. Additionally, Takeda notified Denali of its decision to terminate the PTV:PGRN collaboration agreement in April 2026, leading Denali to regain full rights to DNL593.
Key Highlights
- Net loss for Q1 2026 was $(128.4) million, an improvement from $(133.0) million in Q1 2025.
- Net loss per share was $(0.69) for Q1 2026, compared to $(0.78) in Q1 2025.
- Cash and cash equivalents increased to $387.6 million as of March 31, 2026, from $205.3 million at December 31, 2025.
- Received $200.0 million in funding from a revenue participation right agreement following US FDA approval of AVLAYAH.
- Capitalized a $36.0 million intangible asset in March 2026 due to the AVLAYAH approval milestone.
- Total liabilities rose to $339.9 million at March 31, 2026, from $131.1 million at December 31, 2025.
- Takeda terminated the PTV:PGRN collaboration agreement in April 2026; Denali regains full rights.
Price Impact
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