Shares of Day One Biopharmaceuticals Inc. (DAWN) skyrocketed over 7% in after-hours trading on Tuesday, following the company's impressive third-quarter earnings report that far exceeded Wall Street's expectations.
The biopharmaceutical company reported quarterly earnings of $0.38 per share, compared to analysts' consensus estimate of a loss of $0.39 per share. Day One's quarterly revenue of $93.761 million also crushed estimates of $23.545 million, marking a nearly 300% upside surprise.
The stellar financial results underscore Day One's progress in developing innovative cancer therapies and advancing its robust pipeline. Investors cheered the company's strong performance, driving the stock to surge in extended trading hours.
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