Day One Biopharmaceuticals, Inc. ( (DAWN) ) has realeased its Q3 earnings. Here is a breakdown of the information Day One Biopharmaceuticals, Inc. presented to its investors.
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Day One Biopharmaceuticals, Inc., based in Brisbane, California, is a biopharmaceutical company focused on developing and commercializing targeted therapies for life-threatening diseases, particularly in pediatric oncology.
In its third-quarter 2024 financial report, Day One Biopharmaceuticals highlighted significant achievements, including strong growth in its flagship product, OJEMDA, and strategic partnerships aimed at expanding its global presence.
The company reported a net product revenue of $20.1 million from OJEMDA, marking a 145% increase over the previous quarter. Additionally, Day One’s license revenue amounted to $73.7 million from an exclusive licensing deal with Ipsen for ex-U.S. rights to tovorafenib. Research and development expenses increased slightly to $33.6 million, primarily due to clinical trials and employee costs, while SG&A expenses rose to $29.0 million, reflecting costs associated with the commercial launch of OJEMDA. The company achieved a net income of $37.0 million for the quarter, a significant turnaround from a $46.2 million loss in the same quarter last year.
The company also announced plans to dose the first patient in a Phase 1a/b clinical trial for DAY301 by early 2025 and provided updates on its ongoing pivotal trials. Day One’s cash position remains robust, with $558.4 million in cash, cash equivalents, and short-term investments as of the end of September.
Looking forward, Day One Biopharmaceuticals aims to continue driving growth by advancing its clinical programs and expanding its pipeline, with a focus on enhancing patient outcomes in pediatric cancer therapies.
