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Why is Denali Therapeutics Inc (DNLI) Stock down?

We've noticed a 5.01% decline in Denali Therapeutics Inc (DNLI) stock during the 2024-04-25 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
16 Feb, 2024:

Denali Therapeutics Inc (DNLI) stock fell by 7.30% due to the announcement that its Phase 2 Himalaya study, aimed at treating patients with amyotrophic lateral sclerosis (ALS) using an oral brain-penetrant inhibitor, did not meet the primary endpoint.

  • Details of the Announcement: Denali Therapeutics, a biotechnology company, revealed that the SAR443820/DNL788 inhibitor, developed in collaboration with Sanofi, failed to meet the primary endpoint of change in ALS functional rating scale-revised (ALSFRS-R). Consequently, shares of Denali Therapeutics fell by 7.4% to $17.01 in recent trading. The stock has experienced a decline of 22% since the beginning of the year and 45% over the past 12 months.
  • Future Plans: Despite the setback in the ALS study, Sanofi, Denali's collaborator, intends to proceed with the K2 Phase 2 study of SAR443820/DNL788 in participants with multiple sclerosis. This indicates that while the ALS trial did not yield favorable results, there are ongoing efforts to explore the potential of the inhibitor in other therapeutic areas.
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