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Denali Therapeutics Inc. DNLI Business Segments — External research and development expense

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Other financials

Income statement

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Revenue$3.6M
Gross profit$3.5M
Operating income-$130.5M+3.3%
Net income-$127.6M-2.8%
EPS (diluted)-$0.68+5.6%

Balance sheet

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Cash & equivalents$204.6M+41.8%
Total debt$37.7M-21.4%
Total equity$835.2M-18.7%
Total assets$1.2B-0.7%

Cash flow

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Operating cash flow-$97.0M-28.8%
CapEx$805.0K-81.2%
Free cash flow-$97.8M-22.9%

Valuation

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Market cap$3.92B+88.3%
Enterprise value$3.76B+89.0%
P/S1,089×+1,084×

Profitability

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Operating margin-37,938%-37,986pp
Net margin-33,121.9%-33,159pp
FCF margin-31,736.3%-31,830pp

Returns & leverage

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Return on equity-54.9%+34.3pp
Debt / equity0.0×
Current ratio8.4×-1.9×

Where this comes from

Reported directly by Denali Therapeutics Inc. in its filing.

Tagged under the XBRL concept dnli:ExternalResearchAndDevelopmentExpense.

The source filing: Denali Therapeutics Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:08 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0001714899-26-000097
Line itemTherapeutics Segment / Three Months Ended June 30, 2026Therapeutics Segment / Three Months Ended June 30, 2025Therapeutics Segment / Six Months Ended June 30, 2026Therapeutics Segment / Six Months Ended June 30, 2025
Product revenue, net$3,604$3,604
Less:
Cost of goods sold9393
External research and development expenses - TV programs, including cost sharing40,41937,59478,88384,052
Other research and development expenses, including small molecule programs16,49424,84740,04854,347
Personnel related research and development expenses40,10640,25581,93480,524
Total research and development expenses97,019102,696200,865218,923
Personnel related selling, general and administrative expenses22,92120,11545,48538,853

Item 1. Financial Statements (Unaudited)

FAQ

What is Denali Therapeutics Inc.'s business segments — external research and development expense?
Denali Therapeutics Inc. (DNLI) reported business segments — external research and development expense of $40.42M in Q2 2026.
What does business segments — external research and development expense mean?
Represents costs incurred for third-party research and development activities, including payments to external partners or contract research organizations. This metric tracks the company's reliance on external collaboration to advance its therapeutic pipeline. Monitoring these expenses helps investors assess the efficiency of outsourced innovation versus internal development efforts.

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