AAIC 2026 – CEO Plenary Session on Differentiated Blood-Brain Barrier Platform

Research evidence excerpt

AAIC 2026 – CEO Plenary Session on Differentiated Blood-Brain Barrier Platform

USA | Biotechnology

Denali Therapeutics EquityJulyResearch12, 2026

FLASH NOTEAAIC 2026 – CEO Plenary Session on

RATING BUYDifferentiated Blood-Brain Barrier Platform

PRICE $25.68^

At AAIC's opening plenary, CEO Ryan Watts showcased Denali's Transport

PRICE TARGET | % TO PT $40.00 | +56%

Vehicle (TV) platform as a clinically validated strategy to overcome historical

52W HIGH-LOW $27.30 - $12.58

limitations on efficacious drugs crossing the blood-brain barrier (BBB).

Approved in March 2026, Avlayah (ETV:IDS) is the foundation of DNLI's future FLOAT (%) | ADV MM (USD) 79.7% | 48.34

CNS-targeted therapies, incl Phase I Alzheimer's assets DNL921 (ATV:Abeta) MARKET CAP $4.8B

TICKER DNLI

and DNL628 (OTV:MAPT tau), both of which have de-risking data in '27. ^Prior trading day's closing price unless otherwise

noted.

** Contact us for DNLI's plenary slides **

Big picture: DNLI's Transport Vehicle (TV) platform allows novel therapies to cross the CNS

blood-brain barrier (BBB), including enzymes (ETV), oligonucleotides (OTV), and antibodies (ATV).

DNLI has two potentially superior assets leveraging OTV/ATV technology: ATV:Abeta("trigger") for

amyloid plaque and OTV:MAPT ("executioner") for tau, whose pathology is driven by upstream

amyloid burden. Other novel mechanisms tackling the Alzheimer's disease biology include TREM2,

CLU, APOE variants ("contributors") for microglial activation. Importantly, the TV platform provides

homogeneous brain distribution, which maximizes the likelihood of showing cognitive benefit.

(1) IV DNL921 (ATV:Abeta) could be best-in-class compared to first-gen abeta antibodies (e.g.,

BIIB Leqembi, LLY Kisunla) as well as second-gen compounds like Roche's trontinemab (a TfR-