BUZZ-Denali Therapeutics slides after launching $200 million share sale
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Denali Therapeutics' shares dropped 9% to $17.90 after announcing a $200 million public offering of shares and pre-funded warrants. The proceeds will support drug pipeline advancement, manufacturing capabilities, and regulatory pathways. Goldman Sachs, J.P. Morgan, Morgan Stanley, and Jefferies are managing the offering. Despite the drop, all 18 brokerages rate the stock as "buy" or higher, with a median price target of $32. DNLI stock is down 3.5% year-to-date.
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