Denali Therapeutics falls after ALS drug fails in mid-to-late stage trial

Denali Therapeutics

07/01/2025 12:51

** Shares of drug developer Denali Therapeutics  DNLI.O  
fall 6.7% to $18.50 premarket 
    ** Co late on Monday said its experimental ALS drug failed
to meet the main goal of a mid-to-late stage study
    ** Amyotrophic lateral sclerosis (ALS) is a fatal
neurodegenerative disease
     ** Co said the drug, DNL343, did not demonstrate a change
in disease severity over time and in survival compared to
placebo 
    ** The drug also did not meet key secondary goals of
statistically significant improvements in muscle strength and
respiratory function
    ** Brokerage H.C. Wainwright cuts PT to $87 from $90, says
"the results are not shocking given the complexities of
conducting a perfect ALS trial" 
    ** Up to last close, stock had fallen 5% in 2024 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))