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Why Shares of Denali Therapeutics Are Skyrocketing

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Why Shares of Denali Therapeutics Are Skyrocketing

Shares of Denali Therapeutics Inc (NASDAQ: DNLI) are racing toward their 52-week high following a clinical pipeline update concerning the company's Parkinson's disease pipeline.

What Happened: South San Francisco, California-based Denali, which focuses on the development of treatments for neurodegenerative diseases, said it has selected DNL151 for advancing late-stage studies in Parkinson's disease patients with a kinase activating mutation in LRRK2 and in sporadic Parkinson's disease patients.

The company had evaluated another investigational asset codenamed DNL201 for the same indications. Denali is collaborating with Biogen Inc (NASDAQ: BIIB) on studying its two LRRK2 molecules in Parkinson's patients.

LRRK2 regulates lysosomal function, which is impaired in Parkinson's disease, Denali said.

By inhibiting LRRK2, lysosomal function can be restored, which may slow the progression of Parkinson's disease in patients with and without known genetic risks, according to the company. 

"Based on the clinical data to date that have been generated in Europe, DNL151 appears to have an acceptable safety and tolerability profile, and has met desired target engagement goals," Denali said in a statement.

What's Next? Denali said it is working with Biogen to finalize the clinical development plans for the LRRK2 program.

The company expects patient enrolment into the two studies to commence in 2021.

At last check, Denali shares were skyrocketing 40.86% to $32.74.

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