Denali Therapeutics’ $400 Million At-The-Market Offering

Davis Polk advised the sales agents in the transaction.

The transaction consists in a new SEC-registered at-the-market offering program by Denali Therapeutics Inc. under which Denali may issue and sell shares of its common stock for up to an aggregate amount of $400 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “DNLI.”

Based in South San Francisco, California, Denali is a biopharmaceutical company developing a broad portfolio of therapeutic candidates for neurodegenerative diseases. Denali pursues new treatments by rigorously assessing genetically validated targets, engineering delivery across the blood-brain barrier and guiding development with biomarker monitoring to demonstrate target engagement and select patients.

The Davis Polk corporate team advising Goldman, Sachs & Co. LLC, SVB Securities LLC and Cantor Fitzgerald & Co., included partner Alan F. Denenberg (Picture) and associates Claire A. Bacon and Jacquiley Wong. The intellectual property and technology transactions team included partner David R. Bauer and associate Alison T. Chin. The tax team included partner Mario Verdolini and associate Constance Zhang. 

Involved fees earner: Claire Bacon – Davis Polk & Wardwell; David Bauer – Davis Polk & Wardwell; Alison Chin – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Jacquiley Wong – Davis Polk & Wardwell; Constance Zhang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Cantor Fitzgerald; Goldman Sachs & Co.; SVB Leerink LLC;