Denali Therapeutics Q2 net loss widens as AVLAYAH launch costs rise
DNLI•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 43.3% above its August 5 closing price of $24.42.
AVLAYAH outlook and demand
- Denali projects third-quarter AVLAYAH net product revenue of $10.0 million to $12.0 million.
- The company said initial AVLAYAH demand is tracking ahead of internal expectations.
- Denali noted rapid expansion of commercial access for AVLAYAH.
Q2 results and launch revenue
- Biotechnology firm's first full quarter AVLAYAH sales generated $3.6 million in net product revenue.
- Net loss for Q2 widened slightly year over year as launch expenses increased.
- The company received $195 million from a Priority Review Voucher sale, boosting pro forma cash above .
