((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
February 27 – ** Denali Therapeutics Inc. shares.
DNLI.O jumped 31 percent to $22.13, its highest level of the year, on Tuesday after the company raised funds in a private placement
**The stock is on track for its biggest one-day percentage gain since August 2020
** DNLI reports selling ~29.7 million shares, including ~26 million pre-funded warrants, at $17.07 in a PIPE (private investment in public equity) for proceeds of $500 million of dollars
**Funding is led by a US healthcare investor, with participation from international asset managers based in Boston and the West Coast, company says
**DNLI intends to use the funds to support ongoing R&D, acceleration and expansion of its proprietary BBB-crossing vehicle technology (TV)
** Also on Tuesday, the company reported an adjusted loss of 86 cents/sh in the fourth quarter, compared to a loss of 80 cents/sh estimated by the LSEG consensus
**The company says it had about $1 billion in liquidity at the end of December, adding that it expects PIPE proceeds to extend its cash flow through 2028
** On Feb. 16, DNLI shares fell about 7% to close at $17.02 after its amyotrophic lateral sclerosis drug () developed with partner Sanofi SASY.PA failed to reach the objective of the mid-term test
** With this movement during the session, the stock reduces its loss over the last 12 months to around 20%