DAWN - Day One Biopharmaceuticals: Early Pediatric Brain Cancer Data Makes Tentative Buy Case

• Day One Biopharmaceuticals IPOed in May last year, raising $160m.
• Day One Biopharma's mission statement is to develop better pediatric cancer drugs.
• Lead candidate Tovorafenib posted strong early data from a Phase 2 trial in a common form of pediatric brain cancer with ORR of 64% and CBR of 91%.
• There are no approved therapies for Pediatric Low-Grade Glioma and approval as a first line therapy is possible, opening up a blockbuster (>$1bn sales p.a.) opportunity.
• Investors may be better off waiting for longer-term data however since this drug class is associated with durability issues, and first line approval is likely two years away.

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