Why Denali Therapeutics Stock Is Sinking This Week

Shares of Denali Therapeutics (NASDAQ: DNLI) were down by 18.3% for the week as of the market close on Thursday, based on data from S&P Global Market Intelligence. Much of the decline came after the company announced Thursday that the Food and Drug Administration had placed the Investigational New Drug (IND) application for its drug candidate DNL919 on clinical hold.

The IND application filed by Denali sought a regulatory green light to begin an early-stage clinical study evaluating DNL919 as a treatment for Alzheimer's disease. On Monday, Denali announced that Japanese drugmaker Takeda had exercised its option to co-develop and co-market the experimental therapy. 

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Source Fool.com