Denali Therapeutics slides after launching $200 million share sale

Denali Therapeutics

09/12/2025 22:38

** Drug developer Denali Therapeutics' DNLI.O shares slide 9% to $17.90 in extended trading

** DNLI kicks off public offering of $200 million worth of shares and pre-funded warrants

** Goldman Sachs, J.P. Morgan Securities, Morgan Stanley and Jefferies are joint book-running managers for offering

** Proceeds will be used to advance commercial readiness and regulatory pathways for its drug pipeline, scale internal manufacturing capabilities, among other purposes

** DNLI has 146.6 million outstanding shares as of September 30, according to prospectus

** All 18 brokerages covering the stock rate it "buy" or higher; median PT $32 - data compiled by LSEG

** As of last close, DNLI stock down 3.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))