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Denali Therapeutics swings to Q3 net profit on one-time gain

By Reuters News


Overview

  • US biotechnology firm's Q3 net product revenue reached $17.8 mln in second full commercial quarter

  • Q3 net income was $70.1 mln, boosted by $194 mln one-time gain

  • Company expects Q4 net product revenue of $30-32 mln


Outlook

  • Company expects Q4 2026 net product revenue of $30.0 mln to $32.0 mln

  • Denali plans BLA submission for zafinofusp alfa in 2027 seeking accelerated approval

  • Company expects data from five TransportVehicle programs in 2027


Result Drivers

  • AVLAYAH DEMAND - Co said strong patient, physician and payer demand drove AVLAYAH sales in Q3

  • EXPANDING COVERAGE - AVLAYAH coverage increased to over 70% of U.S. commercial lives and 20 state Medicaid programs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$70.13 mln

Q3 Operating Expenses

$144.53 mln

Q3 Operating Income

-$126.75 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Denali Therapeutics Inc. is $35.00, about 85.6% above its November 2 closing price of $18.86


Reuters Recommended Reads

  • Nov 3 - Madrigal Q3 Rezdiffra sales jump on strong demand, posts first profit

  • Nov 2 - Syndax Pharmaceuticals Q3 revenue rises 82% on cancer drug sales

  • Nov 2 - Switzerland's CRISPR Therapeutics Q3 CASGEVY revenue jumps 30% sequentially


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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