FY2025 · ended Dec 31, 2025 · Revenue $0 · Filed Feb 26, 2026
Denali Therapeutics Inc. (DNLI) files with the SEC under industry code 2836, Biological Products, (No Diagnostic Substances). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $0 and a net loss of $512.5 million. Free cash flow was -$422.1 million. As of Sep 30, 2026 it held $1.0 billion in cash and investments and $35.2 million in total debt.
Revenue
$0
Net income (TTM)
$-314.42M
+37.0% vs year-ago TTM
Operating cash flow (TTM)
$-444.19M
-11.7% vs year-ago TTM
Free cash flow (TTM)
$-449.99M
-9.5% vs year-ago TTM
EPS (TTM)
$-1.70
+41.4% vs year-ago TTM
Dividend per share
None
Shares outstanding
158.59M
+9.2% vs prior year
Net cash
$972.33M
as of Sep 30, 2026
Operating margin
-59.5%
FY 2023
Company profile
- Industry
- Biological Products, (No Diagnostic Substances) (SIC 2836)
- Listed as
- DNLI (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- South San Francisco, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1714899
Other Biological Products, (No Diagnostic Substances) companies
- Amgen Inc AMGN
- Gilead Sciences, Inc. GILD
- Moderna, Inc. MRNA
- Argenx SE ARGX
- Revolution Medicines, Inc. RVMD
- Biogen Inc. BIIB
- BioNTech SE BNTX
- Exelixis, Inc. EXEL
All 182 Biological Products, (No Diagnostic Substances) companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $330.5M | $105.1M | $48.7M |
| Operating income | -$555.3M | -$487.3M | -$196.7M | -$340.7M | -$295.8M |
| Net income | -$512.5M | -$422.8M | -$145.2M | -$326.0M | -$290.6M |
| Diluted EPS | -$2.97 | -$2.57 | -$1.06 | -$2.60 | -$2.39 |
| Operating cash flow | -$412.6M | -$347.7M | -$358.0M | -$244.7M | -$211.4M |
| Free cash flow | -$422.1M | -$363.6M | -$370.9M | -$262.5M | -$219.9M |
| Total assets | $1.1B | $1.4B | $1.2B | $1.5B | $1.4B |
| Total liabilities | $131.1M | $144.5M | $123.0M | $417.8M | $441.9M |
| Stockholders' equity | $1.0B | $1.2B | $1.0B | $1.0B | $962.3M |
| Cash and investments | $966.2M | $1.2B | $1.0B | $1.3B | $1.3B |
| Total debt | $42.3M | $54.3M | $52.2M | $60.4M | $64.0M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 3, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Nov 3, 2026 | Nov 3, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 6, 2026 | Aug 6, 2026 |
| 8-K |
Current report
Acquisition or sale of assets
|
Jul 28, 2026 | Jul 27, 2026 |
| 8-K |
Current report
Material agreement, Regulation FD disclosure
|
Jun 18, 2026 | Jun 12, 2026 |
All 789 Denali Therapeutics Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.