Denali Therapeutics celebrates its IPO at the Nasdaq MarketSite

Christina Medici Scolaro
Key Points
  • Denali celebrates initial public offering at Nasdaq MarketSite
  • Expected to be biggest biotech IPO in 2017
Denali Therapeutics celebrates initial public offering at Nasdaq MarketSite

One of the last IPOs of 2017 is San-Francisco-based Denali Therapeutics. It's expected to be the year's biggest biotech IPO by market cap.

Denali planned to raise $250 million by offering 13.9 million shares, priced between $17 and $19. The company previously filed to raise $150 million.

Founded in 2015, Denali is made of up former Genentech employees. The early-stage biotech makes drugs to combat Alzheimer's, Parkinson's and ALS.

Denali is one of the rare companies that was able reach 'unicorn' status at breakneck speed. The biotech company reached a $1 billion valuation in just 390 days and was dubbed a unicorn not long after. It earned the title faster than any company in history, including Facebook (which took 396 days).

Denali will trade under ticker symbol DNLI.

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