Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: DNLI

Denali Shares Rise 37% on Advancement of DNL151 into Late Stage Parkinson's Trials

Share on Stocktwits

Source:

Shares of Denali Therapeutics reached a new 52-week high after the company reported plans to advance DNL151 in two separate late stage Parkinson's disease clinical studies with its partner Biogen.

Biopharmaceutical company Denali Therapeutics Inc. (DNLI:NASDAQ), which is focused on developing a broad portfolio of product candidates for treatment of neurodegenerative diseases, today announced that "DNL151 has been selected to progress into late stage studies in Parkinson's disease patients with a kinase activating mutation in LRRK2 and in sporadic Parkinson's disease patients."

The company's Chief Medical Officer Carole Ho, M.D., commented, "Safety and biomarker data from studies of our two LRRK2 molecules in Parkinson's patients support moving DNL151 into late stage clinical studies with the aim of addressing the devastating clinical decline and pathology of disease in Parkinson's patients...Our collaboration partner Biogen is a respected leader in neurodegenerative diseases and brings deep scientific and development expertise in Parkinson's disease which will allow us to accelerate our development plan and we believe increase the likelihood of ultimate success."

The firm explained that "LRRK2 is a regulator of lysosomal function, which is impaired in Parkinson's disease and may be restored by LRRK2 inhibition." The company noted that mutations in the LRRK2 gene can cause Parkinson's disease and are a leading driver of lysosomal dysfunction which often exacerbates neurodegeneration.

The company advised that it is working with its partner Biogen Inc. (BIIB:NASDAQ) in order to finalize clinical development plans for the LRRK2 program. The plans entail the commencement of two separate Parkinson's disease studies starting in 2021. The first study will be for use in patients with a kinase activating mutation in LRRK2 and the second trial in other patients with sporadic disease.

The firm stated that its two CNS-penetrant small molecules DNL201 and DNL151 inhibit LRRK2 and are currently in ongoing clinical studies. The company noted that "DNL 201 has successfully completed a Phase 1 study in 122 healthy volunteer subjects and a Phase 1b study in 28 Parkinson's disease patients." The firm noted that DNL201 has been generally safe and well tolerated allowing it to be advanced into further clinical studies.

The company also reported that "DNL151 has successfully completed dosing of 162 healthy volunteers in an ongoing Phase 1 study in healthy volunteer subjects and completed dosing in 25 Parkinson's disease patients in a Phase 1b clinical study."

Denali Therapeutics is a biopharmaceutical company headquartered in South San Francisco, Calif., that is engaged in developing a portfolio of product candidates to treat patients with neurodegenerative diseases including Alzheimer's disease, amyotrophic lateral sclerosis (ALS) and Parkinson's disease. The firm endeavors to apply deep scientific methodology and drug development expertise to discover effective molecular therapeutics and reports that it has engineered proprietary technology capable of effectively delivering biologic therapeutics to the brain.

Denali Therapeutics started off the day with a market capitalization of around $2.5 billion with approximately 105.6 million shares outstanding and a short interest of about 9.3%. DNLI shares opened nearly 31% higher today at $30.43 (+$7.19, +30.94%) over yesterday's $23.24 closing price and before climbing to a new 52-week high price this morning of $35.70. The stock has traded today between $30.31 and $35.70 per share and is currently trading at $31.89 (+$8.65, +37.22%).

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.





Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe