BioCentury
ARTICLE | Financial News

Denali raises $250M in IPO

December 14, 2017 2:13 AM UTC

Denali Therapeutics Inc. (NASDAQ:DNLI) raised $250 million through the sale of 13.9 million shares at $18 in an IPO. Underwriters were Goldman Sachs, Morgan Stanley, JPMorgan and Evercore ISI. The price is at the midpoint of Denali's proposed $17-$19 range and values the neurodegenerative disease company at $1.6 billion.

The company filed in November to raise up to $100 million in the IPO. Last week, it hoped to sell 8.3 million shares at $17-$19. At the $18 midpoint, a sale of that many shares would have raised $150 million (see BioCentury, Nov. 17 & Dec. 1)...