Denali Therapeutics (DNLI) Sells FDA Priority Review Voucher for $195 Million

Denali Therapeutics (DNLI) announced it has sold its Priority Review Voucher (PRV) for $195 million in cash. The transaction closed on June 17, 2026, providing the biopharmaceutical company with significant non-dilutive capital. The U.S. Food and Drug Administration (FDA) awarded Denali the PRV following the approval of its drug, TV-101, for the treatment of a rare neurodegenerative disease. A Priority Review Voucher enables the holder to accelerate the FDA's review of a new drug application from the standard 10 months to six months, representing a valuable and transferable asset.