Day One Announces Oversubscribed $175.0 Million Private Placement

Core Viewpoint - Day One Biopharmaceuticals has announced an oversubscribed private placement of securities, raising approximately $175 million to support its commercial and research initiatives [1][4]. Group 1: Private Placement Details - The private placement consists of 10,551,718 shares of common stock priced at $14.50 per share, along with 1,517,241 pre-funded warrants sold at $14.4999 each [3]. - The transaction is expected to close on August 1, 2024, pending customary closing conditions [4]. - Major investors include Fairmount, Braidwell LP, Deerfield Management, Wellington Management, Frazier Life Sciences, and Access Biotechnology [2]. Group 2: Use of Proceeds - Proceeds from the private placement will be utilized for enhancing commercial capabilities, ongoing research and development, potential strategic acquisitions or licensing, working capital, and general corporate purposes [4]. Group 3: Company Overview - Day One Biopharmaceuticals focuses on developing targeted therapies for pediatric cancer, addressing a significant unmet need in therapeutic development for this demographic [8]. - The company collaborates with clinical oncologists, families, and scientists to develop important cancer treatments, with a pipeline that includes tovorafenib (OJEMDA™), DAY301, and a VRK1 inhibitor program [9].