Denali Therapeutics Inc. (DNLI) Form 10-Q — Nov 3, 2026
Denali Therapeutics posted its first profitable quarter as a commercial company, reporting Q3 2026 net income of $70.1 million ($0.37 diluted EPS) on $17.8 million of net product revenue from AVLAYAH, its newly approved therapy. The profit, however, was driven almost entirely by a one-time $194.0 million gain on the sale of its rare pediatric disease priority review voucher. The quarter was operationally mixed: the nine-month net loss narrowed to $185.9 million from $384.0 million a year ago, and the company holds roughly $1.0 billion in cash and securities, but operating cash burn was $345.6 million for the nine months.
Key figures
- Eps
- 0.37
- Revenue
- 17778000
- Net Income
- 70126000
- Revenue Yoy
- N/A — first quarter of product revenue (AVLAYAH approved March 2026)
- Total Assets
- 1256035000
- Cash Position
- 102870000
- Shares Outstanding
- 160290546
- Royalty rate
- 9.25%
- Gain on prv sale
- 194000000
- Prv gross proceeds
- 195000000
- Q3 r and d expense
- 106102000
- Royalty funding max
- 275000000
- Fstar milestone paid
- 36000000
- Stock comp nine month
- 68861000
- Q3 product revenue net
- 17778000
- Royalty funding received
- 200000000
- Sanofi milestones earned
- 100000000
- Total cash securities 1b
- approximately $1.0 billion
- Prefunded warrants shares
- 28331779
- Sanofi milestones potential
- 495000000
- Nine month product revenue net
- 21382000
- Long term marketable securities
- 491376000
- Royalty effective interest rate
- approximately 12%
- Short term marketable securities
- 413326000
- Remaining fstar contingent payments
- 174000000
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.