Denali Therapeutics Inc. (DNLI) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Denali Therapeutics reported revenue of $0. Net income was -$512.5M, or -$2.97 per diluted share. Operating activities generated -$412.6M of cash, leaving -$422.1M of free cash flow. At fiscal year end, Denali Therapeutics held $1.14B in total assets against $131.1M in total liabilities, including $205.3M of cash and equivalents.
Open the full interactive Denali Therapeutics financials → Quarterly statements, key ratios, valuation history and price charts.
Denali Therapeutics Key Stats
| Share Price | $18.40 |
|---|---|
| Market Cap | $3.45B |
| 52-Week Range | $14.41 – $27.21 |
| Shares Outstanding | 187.3 million (basic, 2026 Q2) |
Denali Therapeutics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $335.7M | $48.7M | $108.5M | $330.5M | $0 | $0 |
| Operating Income | $62.7M | -$295.8M | -$340.7M | -$196.7M | -$487.3M | -$555.3M |
| Pre-Tax Income | $70.3M | -$291.2M | -$326.0M | -$145.2M | -$422.7M | -$512.4M |
| Income Tax | -$823,000 | -$575,000 | $21,000 | $30,000 | $68,000 | $102,000 |
| Net Income | $71.1M | -$290.6M | -$326.0M | -$145.2M | -$422.8M | -$512.5M |
| Diluted EPS | $0.63 | -$2.39 | -$2.60 | -$1.06 | -$2.57 | -$2.97 |
Denali Therapeutics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $3.6M |
| Net Income | -$126.9M | -$128.5M | -$128.4M | -$127.6M |
| Diluted EPS | -$0.74 | -$0.74 | -$0.69 | -$0.68 |
Denali Therapeutics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $507.1M | $293.5M | $218.0M | $127.1M | $175.0M | $205.3M |
| Current Assets | $1.50B | $897.2M | $1.37B | $1.06B | $864.4M | $900.7M |
| Total Assets | $1.60B | $1.40B | $1.46B | $1.15B | $1.37B | $1.14B |
| Current Liabilities | $71.7M | $378.2M | $363.9M | $78.0M | $102.2M | $98.4M |
| Total Liabilities | $453.7M | $441.9M | $417.8M | $123.0M | $144.5M | $131.1M |
| Shareholders' Equity | $1.15B | $962.3M | $1.04B | $1.03B | $1.23B | $1.01B |
Denali Therapeutics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $416.2M | -$211.4M | -$244.7M | -$358.0M | -$347.7M | -$412.6M |
| Cash From Investing | -$623.2M | -$21.6M | -$141.4M | $249.3M | -$88.8M | $255.3M |
| Cash From Financing | $634.7M | $19.3M | $310.7M | $17.8M | $484.3M | $189.2M |
| Free Cash Flow | $413.1M | -$219.9M | -$262.5M | -$370.9M | -$363.6M | -$422.1M |
Figures from Denali Therapeutics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Denali Therapeutics financials page for every line item.
Denali Therapeutics Company Profile
| Ticker | DNLI |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | South San Francisco, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001714899 |
Frequently Asked Questions
What was Denali Therapeutics' revenue in fiscal 2025?
Denali Therapeutics (DNLI) reported revenue of $0 for fiscal 2025.
What is Denali Therapeutics' annual revenue history?
Denali Therapeutics' annual revenue by fiscal year: 2020: $335.7M; 2021: $48.7M; 2022: $108.5M; 2023: $330.5M; 2024: $0; 2025: $0.
What was Denali Therapeutics' net income in fiscal 2025?
Denali Therapeutics reported net income of -$512.5M for fiscal 2025.
What was Denali Therapeutics' earnings per share (EPS) in fiscal 2025?
Denali Therapeutics' diluted EPS was -$2.97 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Denali Therapeutics generate in fiscal 2025?
Denali Therapeutics generated -$422.1M of free cash flow in fiscal 2025.
What was Denali Therapeutics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Denali Therapeutics reported revenue of $3.6M.
How many shares of Denali Therapeutics are outstanding?
Denali Therapeutics reported a weighted average of 187.3 million basic shares outstanding in 2026 Q2.
What is Denali Therapeutics' market cap?
Based on its latest closing price, Denali Therapeutics (DNLI) has a market capitalization of about $3.45B.
When does Denali Therapeutics' fiscal year end?
Denali Therapeutics' fiscal year end, as registered with the SEC, is December 31.
Where is Denali Therapeutics headquartered?
Denali Therapeutics lists its business address in South San Francisco, California in its SEC filings.
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