Denali slips as Takeda exits dementia drug partnership

Shares of Denali Therapeutics DNLI.O fall 4.3% to $19.76, snapping a three-day winning streak

Japan's Takeda Pharmaceutical 4502.T will end their partnership to develop DNL593, an experimental drug for a rare and aggressive form of dementia, DNLI said on Friday

Decision was driven by strategic considerations and is not related to efficacy or safety data, Denali said

The partnership was signed in 2018, to develop and commercialize three therapies for neurodegenerative diseases

Denali expects to report results from the ongoing early-to-mid stage trial of DNL593 by the end of 2026

Including session moves, stock up 19.3% YTD