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IPO Watch: Denali Rising To Challenge Of Alzheimer's

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Denali Therapeutics plans for $150 million initial public offering that will help the biotech company to fund the research to find treatments for Alzheimer's, Parkinsons and other neurodegenerative diseases.

Denali expects to offer 8.3 million shares at a price range of $17 to $19, the mid-point of the range will give it a market capitalization of $1.6 billion.

Denali, which was founded in 2015, plans to list on the Nasdaq under the symbol DNLI. It is expected to price during the week of December 4, 2017.

Denali expects to use proceeds to fund several clinical trials and to improve its technologies.

The company reported a net loss of $86.7 million in 2016, smaller than 2015's loss of $16.8 million. Denali to expects to "continue to incur net losses for the foreseeable future," according to its IPO prospectus.

Goldman Sachs, Morgan Stanley and J.P. Morgan are the joint bookrunners on the IPO.

by RTTNews Staff Writer

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