Denali Therapeutics Stock Is Sliding After The Bell: Here's Why
Portfolio Pulse from Adam Eckert
Denali Therapeutics' stock is declining after-hours following the discontinuation of its Phase 2 study of oditrasertib, as announced by its partner Sanofi. The study failed to meet primary and secondary endpoints. Analysts have mixed ratings on Denali, with some maintaining buy ratings and others a market perform rating.
October 10, 2024 | 8:58 pm
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NEGATIVE IMPACT
Denali Therapeutics' stock is sliding after-hours due to the discontinuation of its Phase 2 study of oditrasertib, which failed to meet key endpoints. Analysts have mixed ratings on the stock.
The discontinuation of the Phase 2 study is a significant setback for Denali, impacting investor sentiment negatively. The stock's after-hours decline reflects this. Mixed analyst ratings add to the uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Sanofi, Denali's partner, discontinued the Phase 2 study of oditrasertib due to unmet endpoints. This decision impacts Denali more directly, but Sanofi's involvement is notable.
While Sanofi's decision to discontinue the study affects Denali more directly, it is a strategic decision by Sanofi. The impact on Sanofi's stock is likely neutral as the news pertains more to Denali.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50