Advance DNL151 into Late Stage Clinical Studies in Parkinson’s

Denali Therapeutics Inc. (NASDAQ:DNLI)

NASDAQ:DNLI Denali Therapeutics Inc.

Denali Therapeutics Announces Decision to Advance DNL151 into Late Stage Clinical Studies in Parkinson’s Patients

DNL151 selected to advance into two late stage studies

Denali and collaboration partner Biogen are finalizing DNL151 clinical development plans and intend to commence patient enrollment in 2021

Denali is currently completing further dose escalation cohorts in an expanded Phase 1 and an additional cohort in the Phase 1b study
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Biogen Inc. BIIB, announced a $465 million equity investment as part of a collaboration on Denali's treatment for Parkinson's disease.

Biogen will make an upfront payment of $560 million, as well as the equity investment from the purchase of 13.3 million newly issued shares, representing about 11% of the shares outstanding, at $34.94 per share, which is 50% above Wednesday's closing price of $23.24.

Denali will also be eligible to receive up to $1.125 billion in potential milestone payments depending on the achievement of certain development and commercial milestones.

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