JonesTrading analyst Soumit Roy has maintained their bullish stance on DAWN stock, giving a Buy rating yesterday.
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Soumit Roy’s rating is based on the promising long-term data from Day One Biopharmaceuticals’ FIREFLY-1 trial, which highlights the efficacy and durability of Ojemda in treating BRAF-altered pediatric low-grade gliomas. The trial’s three-year follow-up data demonstrated that Ojemda remains a preferred treatment option in the second-line setting, with significant tumor reduction observed even after re-treatment, suggesting a lack of resistance development.
Furthermore, the data showed that a substantial number of patients could maintain clinical benefits during a treatment-free period, allowing for physical growth catch-up in pediatric patients. The trial results also indicated a strong overall response rate and a long median duration of response, reinforcing the drug’s potential for sustained revenue growth. These factors collectively support the Buy rating, as they address previous concerns about long-term outcomes and bolster confidence in Ojemda’s market adoption.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $25.00 price target.