On December 10, 2025, Denali Therapeutics, a biopharmaceutical company focused on therapies for neurodegenerative and lysosomal storage diseases, announced the pricing of its underwritten public offering of 9,142,857 shares of its common stock at a price to the public of $17.50 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 2,285,714 shares of common stock at a price of $17.49 per pre-funded warrant, which represents the per share public offering price of each share of common stock less the $0.01 per share exercise price for each pre-funded warrant. All of the shares and pre-funded warrants are to be sold by Denali Therapeutics. Denali Therapeutics expects to receive total gross proceeds of approximately $200 million before deducting underwriting discounts and commissions and other offering expenses and excluding any exercise of the underwriters’ option to purchase additional shares. Wilson Sonsini Goodrich & Rosati advised Denali Therapeutics on the transaction.

The Wilson Sonsini team that advised Denali Therapeutics on the transaction included Tony Jeffries, Jennifer Knapp, Cathy Doxsee, Alex Weber, Sean Mihaljevich, and Natalie Juo.

For more information, please see Denali Therapeutic’s news release.