Jun 2026 (Q2 FY26) — Aug 6, 2026
Denali Therapeutics Q2 FY26 — AVLAYAH Launch and Pipeline Advancement
Read the full callDenali Therapeutics earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3.6 | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Operating margin | -3622.1 | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. | |
| Net profit | -128 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Price
1Y: $15.21 on 14 Oct 2025 → $18.34. High $27.21 (9 Jul 2026), low $14.41 (6 Nov 2025).
Overview
Call summaries
Denali Therapeutics Q2 FY26 — AVLAYAH Launch and Pipeline Advancement
Read the full callEvery analysed call
Financials
Net profit, year on year: −3% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | — | 0 | — | — | — | 4 |
| Expenses | — | — | — | 135 | — | — | — | 134 |
| Operating profit | -123 | -130 | -146 | -135 | -137 | -137 | -137 | -131 |
| Operating margin | — | — | — | — | — | — | — | −3622.1% |
| Net profit | -107 | -115 | -133 | -124 | -127 | -129 | -128 | -128 |
| EPS ($ per share) | -0.63 | — | -0.78 | -0.72 | -0.74 | — | -0.69 | -0.68 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 2 | 2 | 2 | 2 | — | — |
| Reserves | -228 | -426 | -354 | -645 | -971 | -1,116 | -1,539 | -2,052 |
| Total liabilities | 115 | 158 | 454 | 442 | 418 | 123 | 144 | 131 |
| Fixed assets | 25 | 47 | 41 | 39 | 44 | 46 | 55 | 52 |
| Investments | 387 | 336 | 963 | 572 | 1,118 | 907 | 657 | 663 |
| Total assets | 662 | 553 | 1,604 | 1,404 | 1,460 | 1,154 | 1,374 | 1,145 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 50 | -152 | 416 | -211 | -245 | -358 | -348 | -413 |
| Cash from investing | -287 | 148 | -623 | -22 | -141 | 249 | -89 | 255 |
| Cash from financing | 97 | 6 | 635 | 19 | 311 | 18 | 484 | 189 |
| Net cash flow | — | — | 428 | -214 | -75 | -91 | 48 | 32 |
| Capital expenditure | -3 | -18 | -3 | -8 | -18 | -13 | -16 | -10 |
| Free cash flow | 47 | -169 | 413 | -220 | -263 | -371 | -364 | -422 |
20 filings between Nov 4, 2025 and Sep 4, 2026.
Purchases
None
No insider bought shares.
Sales
$1.30M
7 sales by 4 insiders
43% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Also filed: 1 gift.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Watts Ryan J. | — | $580.8K | Jan 6, 2026 |
| Schuth Alexander O. | — | $420.6K | Sep 1, 2026 |
| Thornberry Nancy | — | $261.9K | Sep 2, 2026 |
| Chin Peter Scott | — | $36.9K | Sep 4, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 4, 2026 | Chin Peter Scott Chief Medical Officer | Sale | 1,654 | $36.9K |
| Sep 2, 2026 | Thornberry Nancy Director | Sale 10b5-1 plan | 10,824 | $247.3K |
| Sep 2, 2026 | Thornberry Nancy Director | Sale 10b5-1 plan | 615 | $14.6K |
| Sep 1, 2026 | Schuth Alexander O. COFO and Secretary | Sale 10b5-1 plan | 2,768 | $64.9K |
| Aug 12, 2026 | Watts Ryan J. President and CEO | Gift | 32,220 | $0 |
| Aug 11, 2026 | Schuth Alexander O. COFO and Secretary | Sale | 2,857 | $71.6K |
| Jun 3, 2026 | Cook Jennifer E. Director | Award | 6,408 | $0 |
| Jun 3, 2026 | Thornberry Nancy Director | Award | 6,408 | $0 |
| Jun 3, 2026 | Van Hauwermeiren Timothy Director | Award | 6,408 | $0 |
| Jun 3, 2026 | FLATLEY JAY T Director | Award | 6,408 | $0 |
| Jun 3, 2026 | BAKER BROS. ADVISORS LP Director | Award | 6,408 | $0 |
| Jun 3, 2026 | BAKER BROS. ADVISORS LP Director | Award | 6,408 | $0 |
| Jun 3, 2026 | Klein Peter S Director | Award | 6,408 | $0 |
| Jun 3, 2026 | Schenkein David P Director | Award | 6,408 | $0 |
| Jun 3, 2026 | Krognes Steve E. Director | Award | 6,408 | $0 |
| Jan 6, 2026 | Watts Ryan J. President and CEO | Sale | 35,198 | $580.8K |
| Jan 6, 2026 | Schuth Alexander O. COFO and Secretary | Sale | 17,218 | $284.1K |
| Jan 3, 2026 | Schuth Alexander O. COFO and Secretary | Award | 57,700 | $0 |
| Jan 3, 2026 | Watts Ryan J. President and CEO | Award | 78,960 | $0 |
| Nov 4, 2025 | Van Hauwermeiren Timothy Director | Award | 10,632 | $0 |
| Sep 3, 2025 | Watts Ryan J. President and CEO | Gift | 50,000 | $0 |
| Aug 13, 2025 | Ho Carole Chief Medical Officer | Sale 10b5-1 plan | 806 | $11.8K |
| Aug 12, 2025 | Schuth Alexander O. COFO and Secretary | Sale | 2,937 | $39.9K |
| Aug 12, 2025 | Ho Carole Chief Medical Officer | Sale 10b5-1 plan | 2,937 | $39.9K |
| Aug 5, 2025 | Ho Carole Chief Medical Officer | Option exercise | 44,655 | $30.4K |
| Jul 9, 2025 | Watts Ryan J. President and CEO | Sale 10b5-1 plan | 495,282 | $7.43M |
| Jul 9, 2025 | Watts Ryan J. President and CEO | Option exercise 10b5-1 plan | 40,000 | $211.2K |
| Jul 9, 2025 | Watts Ryan J. President and CEO | Option exercise 10b5-1 plan | 455,282 | $309.6K |
| Jun 3, 2025 | Schenkein David P Director | Award | 6,037 | $0 |
| Jun 3, 2025 | Krognes Steve E. Director | Award | 6,037 | $0 |
| Jun 3, 2025 | Klein Peter S Director | Award | 6,037 | $0 |
| Jun 3, 2025 | BAKER BROS. ADVISORS LP Director | Award | 10,565 | $0 |
| Jun 3, 2025 | Cook Jennifer E. Director | Award | 6,037 | $0 |
| Jun 3, 2025 | BAKER BROS. ADVISORS LP Director | Award | 10,565 | $0 |
| Jun 3, 2025 | FLATLEY JAY T Director | Award | 6,037 | $0 |
| Jun 3, 2025 | Tessier-Lavigne Marc Director | Award | 6,037 | $0 |
| Jun 3, 2025 | Thornberry Nancy Director | Award | 6,037 | $0 |
| Jan 7, 2025 | Krognes Steve E. Director | Sale | 3,339 | $69.5K |
| Jan 7, 2025 | Watts Ryan J. President and CEO | Sale | 7,650 | $159.2K |
| Jan 7, 2025 | Schuth Alexander O. COFO and Secretary | Sale | 2,907 | $60.5K |
| Jan 7, 2025 | Ho Carole Chief Medical Officer | Sale | 2,907 | $60.5K |
| Jan 6, 2025 | Schuth Alexander O. COFO and Secretary | Sale | 12,255 | $247.8K |
| Jan 6, 2025 | Ho Carole Chief Medical Officer | Sale | 12,255 | $247.8K |
| Jan 6, 2025 | Watts Ryan J. President and CEO | Sale | 29,266 | $591.8K |
| Jan 3, 2025 | Schuth Alexander O. COFO and Secretary | Award | 54,180 | $0 |
| Jan 3, 2025 | Watts Ryan J. President and CEO | Award | 54,180 | $0 |
| Jan 3, 2025 | Ho Carole Chief Medical Officer | Award | 54,180 | $0 |
| Jan 2, 2025 | SATO VICKI L Director | Sale 10b5-1 plan | 3,080 | $64.4K |
| Dec 31, 2024 | Krognes Steve E. Director | Sale 10b5-1 plan | 30,000 | $607.5K |
| Dec 27, 2024 | Schuth Alexander O. COFO and Secretary | Option exercise | 6,708 | $35.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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