Cns Product was Denali Therapeutics’s largest revenue line in fiscal 2025, bringing in $65.00M of $105.00M (62%).
| Counterparty Name | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2021 | FY 2022 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cns Product | — | — | — | $65.00M | |||||
| Cns Program License | — | $40.00M | — | — | |||||
| Collaboration Agreement Services | — | $51.92M | — | — | |||||
| Takeda Collaboration Agreement Services | — | — | — | — | |||||
| Milestone Triggered | $40.00M | — | — | — | |||||
| Peripheral Program License | — | $10.00M | — | $35.00M | |||||
| Retained Activities | — | — | — | — | |||||
| Option Fee Payment | — | — | $5.00M | $5.00M | |||||
| Option Research Services | — | $3.15M | — | — | |||||
| Alzheimer'S Disease Services | — | — | — | — | |||||
| Total | $40.00M | $105.07M | $5.00M | $105.00M |
Denali Therapeutics brought in $105.00M from its three revenue lines in fiscal 2025, the year ended December 31, 2025. Denali Therapeutics regrouped these revenue lines after fiscal 2023, so the total does not compare directly with that year's $5.00M. Cns Product was the largest at $65.00M (61.9%), ahead of Peripheral Program License at $35.00M (33.3%) and Option Fee Payment at $5.00M (4.8%).
Denali Therapeutics began breaking out Cns Product in fiscal 2025 and Option Fee Payment in fiscal 2023. Denali Therapeutics stopped reporting Collaboration Agreement Services ($51.92M in fiscal 2022), Cns Program License ($40.00M in fiscal 2022), Milestone Triggered ($40.00M in fiscal 2022) and one other as separate revenue lines.
Collaborative Arrangement was Denali Therapeutics’s largest revenue line in fiscal 2025, bringing in $65.00M of $70.00M (93%).
| Type Of Arrangement | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2021 | FY 2022 | FY 2022 | FY 2023 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Biogen | — | $3.15M | — | $295.53M | — | |||||
| Collaborative Arrangement | $40.00M | — | — | — | $65.00M | |||||
| Sanofi Collaboration Agreement | — | $40.00M | — | $25.00M | — | |||||
| Takeda Collaboration Agreement | — | $51.92M | — | $10.00M | — | |||||
| Biogen Collaboration Agreement | — | — | $5.00M | — | $5.00M | |||||
| Total | $40.00M | $95.07M | $5.00M | $330.53M | $70.00M |
Denali Therapeutics brought in $70.00M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $105.00M it reports by counterparty name, so these revenue lines do not cover all of its revenue. Collaborative Arrangement was the largest at $65.00M (92.9%), ahead of Biogen Collaboration Agreement at $5.00M (7.1%).
Denali Therapeutics began breaking out Biogen Collaboration Agreement in fiscal 2023, when it brought in $5.00M. Denali Therapeutics stopped reporting Biogen ($295.53M in fiscal 2023), Sanofi Collaboration Agreement ($25.00M in fiscal 2023) and Takeda Collaboration Agreement ($10.00M in fiscal 2023) as separate revenue lines.
Sanofi was Denali Therapeutics’s largest revenue line in fiscal 2025, bringing in $100.00M of $105.00M (95%).
| Counterparty Name (2) | FY 2021 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|
| Sanofi | $40.00M | — | $100.00M | |
| Biogen | — | $5.00M | $5.00M | |
| Total | $40.00M | $5.00M | $105.00M |
Denali Therapeutics brought in $105.00M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. Denali Therapeutics regrouped these revenue lines after fiscal 2023, so the total does not compare directly with that year's $5.00M. Sanofi was the largest at $100.00M (95.2%), ahead of Biogen at $5.00M (4.8%).
Denali Therapeutics began breaking out Biogen in fiscal 2023, when it brought in $5.00M.
Denali Therapeutics (DNLI) reports its revenue by counterparty name, by type of arrangement and by counterparty name (2). In fiscal 2025, Cns Product was its largest revenue line, bringing in $65.00M (61.9% of the total), followed by Peripheral Program License at $35.00M (33.3%).
Cns Product was Denali Therapeutics' largest revenue line in fiscal 2025, bringing in $65.00M, or 61.9% of the $105.00M total across its three revenue lines.
Every figure comes from Denali Therapeutics' annual financial filings, as reported. Each line keeps the name Denali Therapeutics gives it, and years follow its fiscal calendar.
Denali Therapeutics' revenue by counterparty name goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.