Denali Therapeutics Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-127.6M | $-128.4M | $-128.5M | $-126.9M | $-124.1M | $-133.0M | $-114.8M | $-107.2M |
| Depreciation & Amortization | $3.6M | $2.8M | $2.9M | $2.9M | $3.0M | $2.3M | $1.9M | $1.8M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $750.0K | — | — | — | $0 | — | — | — |
| Stock-Based Compensation | $22.9M | $23.1M | $24.0M | $25.1M | $25.4M | $25.2M | $25.1M | $24.9M |
| Net Cash from Operating Activities | $-97.0M | $-131.2M | $-98.5M | $-107.3M | $-75.3M | $-131.5M | $-83.7M | $-59.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $805.0K | $2.5M | $1.5M | $-1.4M | $4.3M | $5.1M | $5.1M | $3.9M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-104.1M | $94.5M | $20.8M | $57.8M | $157.9M | $18.7M | $172.2M | $93.7M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $15.0M | $219.0M | $192.1M | $-778.0K | $1.6M | $-3.8M | $-4.2M | $-18.6M |
| Net Change in Cash | $-186.1M | $182.3M | $114.4M | $-50.2M | $84.3M | $-116.5M | $84.3M | $16.0M |
| Free Cash Flow | $-97.8M | $-133.7M | $-100.1M | $-105.9M | $-79.6M | $-136.5M | $-88.8M | $-63.0M |