Denali Therapeutics (DNLI) IPO Opens 20% Higher

Today's IPO for Denali Therapeutics Inc. (NASDAQ: DNLI) opened for trading at $21.55 after pricing 13,888,888 shares of its common stock at a price to the public of $18.00 per share.

In addition, the underwriters have a 30-day option to purchase up to 2,083,333 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering, and Evercore Group L.L.C. is acting as lead manager for the offering.

Denali is a biopharmaceutical company developing a broad portfolio of therapeutic candidates for neurodegenerative diseases. Denali is based in South San Francisco.

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