Day One Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Progress

Core Insights - Day One Biopharmaceuticals reported Q4 2024 net product revenues of $29.0 million and full year revenues of $57.2 million for OJEMDA (tovorafenib) [1][5] - The company ended 2024 with a strong cash position of $531.7 million [1][7] - The CEO highlighted the approval of OJEMDA as a significant growth catalyst and expressed confidence in the company's long-term growth trajectory [2] Financial Highlights - OJEMDA net product revenues increased by 44% from Q3 to Q4 2024 [5] - The company wrote over 1,600 OJEMDA prescriptions within eight months of its launch in April 2024 [5] - License revenue from the sale of ex-U.S. commercial rights for tovorafenib was $0.2 million for Q4 and $73.9 million for the full year [6] - Research and development expenses rose to $61.8 million for Q4 and $227.7 million for the full year, compared to $37.3 million and $130.5 million in 2023 [6] - Selling, general and administrative expenses were $29.8 million for Q4 and $115.5 million for the full year, up from $22.2 million and $75.6 million in 2023 [6] - The net loss for Q4 was $65.7 million and $95.5 million for the full year, with non-cash stock-based compensation expenses of $11.0 million and $48.3 million respectively [6][7] Corporate Developments - OJEMDA received the Exclusively Pediatric designation, reducing its Medicaid and 340B minimum rebate percentage from 23.1% to 17.1% [5] - The DAY301 program, a PTK7-targeted ADC, successfully cleared the first dose cohort in its Phase 1a clinical trial [5] - Enrollment in the pivotal Phase 3 FIREFLY-2 clinical trial is advancing, with full enrollment expected in the first half of 2026 [5]