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Denali Therapeutics Reports Third Quarter 2020 Financial Results and Business Highlights
SOUTH SAN FRANCISCO, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Denali Therapeutics Inc. (NASDAQ: DNLI), a biopharmaceutical company developing a broad
About this update from Denali Therapeutics Inc.
[{"type":"text","content":"SOUTH SAN FRANCISCO, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Denali Therapeutics Inc. (NASDAQ: DNLI), a biopharmaceutical company developing a broad portfolio of product candidates engineered to cross the blood-brain barrier (BBB) for neurodegenerative diseases, today reported financial results for the third quarter ended September 30, 2020 and provided business highlights.\n “We have continued our approach of advancing a broad therapeutic portfolio by making parallel investments in multiple programs and forging strategic partnerships. We are particularly excited about our collaboration with Biogen and working together on late-stage clinical development plans for DNL151, our lead investigational small molecule inhibitor of LRRK2 for the treatment of Parkinson’s disease,” said Ryan Watts, Ph.D., Denali’s chief executive officer. “In addition, we have made significant progress across multiple programs enabled by our Transport Vehicle (TV) technology platform, including our lead Enzyme Transport Vehicle: iduronate 2-sulfatase (ETV:IDS) program, which is evaluating DNL310 in a Phase 1/2 trial in patients with Hunter syndrome (MPS II). Preclinical data from additional select TV-enabled programs were highlighted at our recent virtual R&D Day, showing potential applications in other lysosomal storage disorders, Alzheimer’s disease, and HER2-positive central nervous system metastases. Of note, our new collaboration with Secarna Pharmaceuticals expands our capabilities in developing TV-enabled antisense oligonucleotides (ASOs). This progress, despite the ongoing challenges of a global pandemic, is made possible by the grit and unity that our employees consistently bring forth in working towards defeating degeneration for patients.” Third Quarter 2020 and Recent Business Highlights Commenced Biogen collaboration: In August 2020, Denali and Biogen announced a collaboration to co-develop and co-commercialize Denali’s small molecule inhibitors of leucine-rich repeat kinase 2 (LRRK2) for Parkinson’s disease. Biogen also received rights to opt into two programs and a right of first negotiation for two additional programs, in each case for certain neurodegenerative diseases leveraging Denali’s TV technology platform to cross the BBB. In September 2020, Biogen made a $465.0 million equity investment in Denali. In October 2020, the companies ex...