This Pediatric Cancer Company Makes It To Analyst's Conviction List

Benzinga

2022-12-15

Needham has initiated coverage on Day One Biopharmaceuticals Inc (NASDAQ: DAWN) with a Buy rating and a price target of $40.
Day One's lead product candidate, tovorafenib, is under development for relapsed or progressive pediatric low-grade glioma (pLGG), the most common brain tumor diagnosed in children.
Initial data demonstrated an overall response rate (ORR) of 64% and a clinical benefit rate (CBR) of 91%.
The analyst writes that Tovorafenib could become a best-in-class RAF inhibitor for pLGG and will be the only approved, targeted therapy for 85% of the BRAF population with no options other than chemo.
Needham estimates over $2 billion in global sales in 2035, driven by approval in 1L and 2L pLGG, and assigns a probability of success of 50% and 65%, respectively.
The analyst also says that Tovo's dosing frequency of once weekly compares favorably to the competitors' QD (once daily) or BID (twice daily) dosing.
Price Action: DAWN shares are up 3.88% at $20.88 on the last check Wednesday.

Latest Ratings for DAWN

Date	Firm	Action	From	To
Jun 2021	Cowen & Co.	Initiates Coverage On		Outperform
Jun 2021	Wedbush	Initiates Coverage On		Outperform
Jun 2021	JP Morgan	Initiates Coverage On		Overweight

View More Analyst Ratings for DAWN

View the Latest Analyst Ratings

See more from Benzinga

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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DeSantis: Republicans Have A Clear Favorite In New Poll</li>\n</ul>\n<p>Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.</p>\n<p><i>© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.</i></p></body></html>","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Pediatric Cancer Company Makes It To Analyst's Conviction List</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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DeSantis: Republicans Have A Clear Favorite In New Poll\n\nDon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.\n© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}