Denali Therapeutics Inc. Common Stock (DNLI)
Denali Therapeutics Inc. (DNLI) is a biopharmaceutical company focused on developing therapies for neurodegenerative diseases and other difficult-to-treat diseases of the central nervous system. Founded in 2015, Denali leverages its expertise in biology, engineering, and medicine to create innovative treatments aimed at crossing the blood-brain barrier to target underlying disease mechanisms. The company's pipeline includes investigational medicines for conditions such as Alzheimer's, Parkinson's, and ALS.
Company News
Denali Therapeutics has initiated a rolling submission of a biologics license application (BLA) for accelerated approval of tividenofusp alfa for the treatment of Hunter syndrome (MPS II). The company also has positive ongoing interactions with the FDA on the development of DNL126 for Sanfilippo syndrome type A (MPS IIIA) through the START program.
Biogen reported strong Q2 results, beating earnings and revenue estimates. The company raised its 2024 guidance, driven by growth in new products like Leqembi and Skyclarys, offsetting declines in key multiple sclerosis drugs. However, the termination of a program with Denali Therapeutics weighed on the stock.
Denali Therapeutics director Steve E. Krognes sold over $678,000 worth of company stock in two separate transactions. The sales were executed under a Rule 10b5-1 trading plan, and Krognes still holds a substantial stake in the company.
Goldman Sachs has decided to maintain its Buy rating of Denali Therapeutics (NASDAQ:DNLI) and lower its price target from $73.00 to $50.00. Shares of Denali Therapeutics are trading up 2.62% over the last 24 hours, at $20.74 per share. A move to $50.00 would account for a 141.08% increase from the current share price. About Denali Therapeutics Denali Therapeutics Inc is a biotechnology company that is engaged in developing and discovering therapeutics to defeat neurodegeneration disease. The company's development programs include the LRRK2 Inhibitor Program, which develops brain penetrant small molecule LRRK2 inhibitor product candidates for ...Full story available on Benzinga.com
Analysts maintained their buy ratings on the clinical-stage biotech company.
