Day One (DAWN) reported earnings on Wed 30 Oct 24 (a/h)

ticker: DAWN

** charts after earnings **

 

 

BRISBANE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Day One Biopharmaceuticals, Inc. (Nasdaq: DAWN) (“Day One” or the “Company”), a biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, today announced its third quarter 2024 financial results and highlighted recent corporate achievements.

Achieved $20.1 million in OJEMDATM (tovorafenib) net product revenue.

Ended the third quarter with $558.4 million in cash, cash equivalents and short-term investments.

Program Highlights

• Strong growth in OJEMDA net revenue with $20.1M in the third quarter of 2024, representing a 145% increase over the second quarter of 2024.
• Quarterly prescriptions (TRx) grew to 619 in the third quarter of 2024, representing a 159% increase over the second quarter of 2024.
• Day One expects to dose the first patient in the Phase 1a portion of the Phase 1a/b clinical trial of DAY301 by the end of 2024 or in the first quarter of 2025.
• Day One provided updated duration of response data from the registrational Phase 2 FIREFLY-1 trial investigating tovorafenib in patients with BRAF-altered, relapsed or progressive pLGG. For the 77 patients enrolled on Arm 1, which was the dataset used to assess OJEMDA’s efficacy, the median duration of response is 18 months.
• The pivotal Phase 3 FIREFLY-2/LOGGIC clinical trial evaluating tovorafenib as a front-line therapy in patients aged 6 months to 25 years with pLGG continues to enroll patients in the United States, Canada, Europe, Australia and Asia, with more than 100 sites activated.

Corporate Highlights and Upcoming Milestones

• Day One and Ipsen entered into an exclusive licensing agreement to commercialize tovorafenib outside of the U.S. in July 2024. Under the agreement, Day One received approximately $111 million upfront in cash and equity investment at a premium with up to approximately $350 million in additional launch and sales milestone payments as well as tiered double-digit royalties starting at mid-teens percentage on net sales.
• Day One entered into a definitive agreement for an oversubscribed private placement of its securities for total gross proceeds of approximately $175 million in July 2024.

IPOs this week : Oct 28 - Nov 1, 24 (wk 44)

 

Brazil Potash – Toronto, 4.3 million shares, priced at $15-$18, managed by Cantor Fitz. Bradesco. Proposed NYSE symbol GRO. Business: Developing a potash mining project in Brazil’s Amazon basin.

Peak Resources LP – Durango, Colo., 4.7 million shares, priced at $13-$15, managed by Janney Roth Cap.. Proposed NYSE American symbol PRB. Business: US oil and natural gas producer operating in the Powder Ridge Basin.

Cuprina Holdings – Singapore, 3.8 million shares, priced at $4-$4.50, managed by Network 1. Proposed Nasdaq symbol CUPR. Business: Singapore-based provider of skincare and chronic wound care products.

Jupiter Neurosciences – Jupiter, Fla., 2.8 million shares, priced at $4-$5, managed by Dominari Sec. Revere Sec.. Proposed Nasdaq symbol JUNS. Business: Phase 1 biotech developing an oral therapy for neuro-inflammation.

Diginex – Hong Kong, 2.3 million shares, priced at $4-$6, managed by Dominari Sec. Revere Sec.. Proposed Nasdaq symbol DGNX. Business: Provides software that enables businesses to collect, analyze, and report ESG data.

FBS Global – Singapore, 2.3 million shares, priced at $4.50-$5, managed by WallachBeth. Proposed Nasdaq symbol FBGL. Business: Provides interior design and fit-out services in Singapore.

Jinxin Technology – Shanghai, 1.9 million shares, priced at $4-$5, managed by Craft Capital WestPark Capital. Proposed Nasdaq symbol NAMI. Business: Provides a digital textbook and educational content platform for K-9 students in China.

Libera Gaming Operations – Tokyo, 1.3 million shares, priced at $4-$6, managed by Craft Capital Boustead. Proposed NYSE American symbol LBRJ. Business: Operates pachinko gaming halls in Japan.

Septerna (SEPN) began trading on the Nasdaq on Fri 25 Oct 24

Septerna, Inc., a clinical-stage biotechnology company, discovers and develops G protein-coupled receptor (GPCR) oral small molecule products candidates for the treatment of endocrinology, immunology and inflammation, and metabolic diseases. 

Septerna was formerly known as GPCR NewCo, Inc. and changed its name to Septerna Inc. in June 2021.

• Sector(s): Healthcare
• Industry: Biotechnology
• Full Time Employees: 68
• Incorporated in 2019 
• Headquartered in South San Francisco, California
• https://septerna.com

Septerna opened at $23.50 after pricing 16.0 mln share IPO at $18/share, above the $15-17 expected range

Septerna, a clinical-stage pharmaceutical company with an initial focus on rare endocrine diseases, draws strong interest for its IPO

• After pricing its upsized 16.0 mln share IPO at $18, above the $15-$17 expected price range, Septerna (SEPN) opened for trading at $23.50, good for a 31% opening gain. 
• The company has developed a proprietary "Native Complex Platform" that it believes will usher in a new era of G protein-coupled receptor (GPCR) oral small molecule drug discovery. GPCRs are a family of cell membrane receptors that regulate physiological processes in nearly every organ system in the human body.
• Its lead product candidate is SEP-876, which is currently in Phase 1 studies and being evaluated for the treatment of Hypoparathyroidism -- a rare endocrine disease characterized by insufficient levels of parathyroid hormone that affects approximately 70,000 patients in the United States. The company expects to report data on the trial in mid-2025.
• Including the proceeds from this offering, SEPN has approximately $400.0 mln in cash and cash equivalents. SEPN believes that it will have enough capital to fund its operations and clinical trials into 2H27.

Vroom (VRM) : 4-year performance

Vroom, Inc. is a parent company of United Auto Credit Corporation and CarStory. Previously, it was a used car retailer and e-commerce company that let consumers buy, sell, and finance cars online. Vroom ceased e-commerce automotive sales operations on January 22, 2024.

• Ticker: VRM

WeRide (WRD) began trading on the Nasdaq on Fri 25 Oct 24

WeRide is the world’s first publicly listed universal autonomous driving technology company and the first publicly listed Robotaxi company.

• Sector(s): Consumer Cyclical
• Industry: Auto Manufacturers
• Full Time Employees: 2,227
• incorporated in 2017 
• Headquartered in Guangzhou, China
• https://www.weride.ai

Carrier Global (CARR) reported earnings on Thur 24 Oct 24 (b/o)

It was a noisy third quarter for Carrier as it reclassified its fire and security segment to discontinued operations. The businesses in this segment should all be sold by year-end. Adjusted for this change, organic revenue increased 4%, but adjusted operating margin slipped 40 basis points to 17.4%.

• Carrier Global (CARR) went public on April 3, 2020, when it opened at $12.98.

** charts after earnings **

 

 

 

• Fire & Security segment now reported as discontinued operations making prior guidance not comparable
• Net sales of $6.0 billion up 21% versus third quarter 2023; organic sales up 4%
• GAAP EPS from continuing operations of $0.62 and adjusted EPS from continuing operations of $0.77
• Total GAAP EPS of $0.49 and adjusted EPS of $0.83
• Final business exit on-track to close around year end
• Board increases remaining share repurchase authorization to $4.7 billion

 

Aquestive Therapeutics (AQST) : 6-year performance

•  Sector(s): Healthcare
• Industry: Drug Manufacturers - Specialty & Generic
• Full Time Employees: 135
• Headquarters: Warren, New Jersey 
• Founded: 2004
• https://www.aquestive.com

IPO July 25, 2018: 4,500,000 shares of common stock at a public offering price of $15.00 per share.

Allegro MicroSystems (ALGM) : 4-year performance

Allegro MicroSystems, Inc. designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems.

• Sector(s): Technology
• Industry: Semiconductors
• Full Time Employees: 4,593
• Founded in 1990 
• Headquartered in Manchester, New Hampshire
• https://www.allegromicro.com/en

Priced 25,000,000 shares of its common stock at $14.00 per share.

Ticker: ALGM

Smart Share Global (EM) : 3-year performance

Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. 

• Sector(s): Consumer Cyclical
• Industry: Personal Services
• Full Time Employees: 3,198
• Incorporated in 2017 
• Headquartered in Shanghai, the People's Republic of China
• https://ir.enmonster.com

 

MetroCity Bankshares (MCBS) increases quarterly cash dividend to $0.23/share

MetroCity Bankshares increases quarterly cash dividend to $0.23/share from $0.20/share and announces the continuation of its share repurchase program 

• The Company approves the continuation of its share repurchase program that expired on September 30, 2024 and authorized the Company to repurchase up to 925,250 shares of the Company's outstanding shares of common stock, which is the number of remaining shares authorized for repurchase from the Prior Share Repurchase Plan.
• The share repurchase program will begin on October 17, 2024 and end on September 30, 2025.

Earnings Date	Oct 18, 2024
Forward Dividend & Yield	0.80 (2.58%)
Ex-Dividend Date	Jul 31, 2024

Dividend Payable Date    Aug 9, 2024

X: Oct 10, vol. 17K

 

 

 

Blend Labs (BLND) : 3-year performance

• Sector(s): Technology
• Industry: Software - Application
• Full Time Employees: 881
• Incorporated in 2012 
• Headquartered in San Francisco, California
• https://blend.com

ticker: BLND

Bright Minds Biosciences (DRUG) : 3-year performance

• Sector(s): Healthcare
• Industry: Biotechnology
• Founded in 2017 
• Headquartered in New York, New York
• https://brightmindsbio.com

 

 

 

About Dravet Syndrome

Dravet syndrome is an epilepsy syndrome that begins in infancy or early childhood and can include a spectrum of symptoms ranging from mild to severe. Children with Dravet initially show focal (confined to one area) or generalized (throughout the brain) convulsive seizures that start before 15 months of age (often before age one). These initial seizures are often prolonged and involve half of the body, with subsequent seizures that may switch to the other side of the body. These initial seizures are frequently provoked by exposure to increased temperatures or temperature changes, such as getting out of a bath. Other seizure types emerge after 12 months of age and can be quite varied. Status epilepticus – a state of continuous seizure requiring emergency medical care – may occur frequently in these children, particularly in the first five years of life. Dravet syndrome affects an estimated 1:15,700 individuals in the U.S., or 0.0064% of the population (Wu 2015). Approximately 80-90% of those, or 1:20,900 individuals, have both an SCN1A mutation and a clinical diagnosis of DS. This represents an estimated 0.17% of all epilepsies.1 As an area of high, unmet medical need, there currently exist only three FDA-approved medications for the treatment of DS: (1) Fintepla® (fenfluramine), which has a black-box label; (2) Diacomit® (stiripentol) and (3) Epidolex® (cannabidiol).

Oatly Group (OTLY) : 4-year performance

 ticker: OTLY

 

Tevogen Bio (TVGN) : 8-month performance

Sector(s): Healthcare

Industry: Biotechnology

https://tevogen.com

 

 

 

Longboard Pharma (LBPH) to be acquired by Lundbeck for $60.00 per share

Danish drugmaker Lundbeck has agreed to spend $2.6 billion acquiring a young biotechnology company with an experimental brain medicine that could become a blockbuster product.

• Longboard was formed in January 2020 by Arena Pharmaceuticals, Inc. to advance a portfolio of centrally acting product candidates designed to be highly selective for specific G protein-coupled receptors (GPCRs).
• Longboard’s lead asset, bexicaserin, is under development for neurological diseases, including Dravet syndrome.

ticker:  LBPH

 

 

 

Longboard Pharmaceuticals to be acquired by Lundbeck (HLUYY) for $60.00 per share in cash 

• H. Lundbeck A/S (HLUYY) and Longboard Pharmaceuticals (LBPH) announced an agreement for Lundbeck to acquire Longboard. Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, whereby Longboard shareholders will be offered a payment of $60.00 per share in cash. The transaction is valued at approximately $2.6 billion equity value and $2.5 billion (~DKK 17 billion) net of cash, on a fully diluted basis.
  • Through the acquisition of Longboard, Lundbeck gains access to bexicaserin, a novel 5-HT2C agonist in development for the treatment of seizures associated with DEEs, including Dravet syndrome, Lennox-Gastaut syndrome, and other rare epilepsies.
  • Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, whereby Longboard shareholders will be offered a payment for $60 per share in cash. The cash consideration represents a 77% premium to the 30-day volume-weighted average price of shares of Longboard common stock as of September 30, 2024.

 

Top Wealth Group Holding (TWG) : 6-month performance

Top Wealth Group Holding Limited provides caviar and caviar-based gourmet products in Hong Kong and internationally. 

• Sector(s): Consumer Defensive
• Industry: Food Distribution
• Full Time Employees: 12
• https://www.imperialcristalcaviar.com

A:  10/7  vol. 1.4 M

B: 10/10  vol. 455

 

 

 

 

Upstream Bio (UPB) began trading on the Nasdaq on Fri 11 Oct 24

 Opened at $21.50 after pricing 15.0 mln share IPO at $17.00 per share, at the high end of the $15-17 expected range.

The clinical-stage biotech draws strong interest for its IPO

• After initially expecting to offer 12.5 mln shares, Upstream Bio (UPB) upped the IPO offering amount to 15.0 mln shares, reflecting strong demand from institutional buyers in the primary market. The upsized IPO then priced at $17, the high end of the $15-$17 mln projected price range, raising total gross proceeds of $255 mln. 
• The bullish sentiment continued into the public markets with UPB opening for trading at $21, good for a 24% opening pop, and shares continued to move higher from there. 
• UPB is focused on developing treatments for inflammatory diseases with an initial focus on severe respiratory disorders. The company's lead product candidate is Verekitug, which is being developed for the treatment of severe asthma and chronic rhinosinusitis with nasal polyps.
• In Phase 1 trials, Verekitug showed a reduction of inflammatory biomarkers, and it was well tolerated, and showed a predictable and consistent PK profile.
• Verekitug has been advanced into Phase 2 trials with data from these trials expected in 2H26 for severe asthma and 2H25 for chronic rhinosinusitis with nasal polyps.
• On a pro forma as adjusted basis, UPB estimates that its cash and equivalents balance was $417.9 mln as of June 30, 2024. With the net proceeds from this offering together with UPB's existing cash, cash equivalents and short-term investments, the company believes it can fund its operating expenses and capital expenditure requirements through mid-2027.

CeriBell (CBLL) began trading on the Nasdaq on Fri 11 Oct 24

CeriBell, Inc. develops AI based point-of-care electroencephalography (EEG) technology for the detection and treatment of neurological conditions. 

The company was formerly known as Brain Stethoscope, Inc. and changed its name to CeriBell, Inc. in August 2015.

• Sector(s): Healthcare
• Industry: Medical Devices
• Full Time Employees: 240
• Incorporated in 2014 
• HQ in Sunnyvale, California.
• https://ceribell.com

Opened at $23.26 after pricing 10,606,060 share IPO at $17/share, at the $16-17 expected range.

Potbelly (PBPB) : 11-year performance

 ticker: PBPB

 

KinderCare Learning Companies (KLC) began trading on the NYSE on Wed 9 Oct 24

Largest provider of early childhood education in U.S. saw healthy demand for its IPO, which raised $576 mln in gross proceeds.

The company was formerly known as KC Holdco, LLC and changed its name to KinderCare Learning Companies, Inc. in January 2022.

• Sector: Consumer Defensive
• Industry: Education & Training Services
• Full Time Employees: 43,560
• Founded in 1969 
• Headquartered in Lake Oswego, Oregon
• https://www.kc-learning.com/

Opened at $27 after pricing 24.0 mln share IPO at $24/share, at the lower end of the $23-27 expected range.

Ticker:  KLC

 

The company, operating under the KinderCare, Creme School, and Champions brands, has a market-leading footprint of more than 1,500 early childhood education centers in the U.S.

In 2015, KLC was acquired by Swiss private equity firm Partners Group, which is retaining a71.1% stake in KLC following the IPO.

For the six months ended June 29, 2024, revenue increased by 6.2% to $1.345 bln. KLC has-been benefiting from the return-to-office trend, and it has also been raising prices. For this same period, operating income fell by 32% yr/yr to $114.2 mln as SG&A costs increased by11% to $169.0 mln.

Surf Air Mobility (SRFM) began trading on the NYSE on Thur 27 Jul 23

• This was a direct listing on the NYSE.  Unlike an initial public offering, in a direct listing shares are not sold in advance. Shareholders are allowed to sell shares directly to the public and net any proceeds from the sale.
• Shares debuted on the New York Stock Exchange at $5 per share below its reference price of $20.
• Aug 19, 2024: reverse split of 1-for-7
• Oct 3, 2024: Palantir has recently invested nearly $1.6 million in Surf Air Mobility   

Sector(s): Industrials

Industry: Airlines

Full Time Employees: 786

https://www.surfair.com

Surf Air Mobility is a Los Angeles-based regional air mobility platform expanding the category of regional air travel to transform flying through the power of electrification. In an effort to substantially reduce the cost and environmental impact of flying and as the owner of the largest commuter airline in the U.S., Surf Air Mobility intends to develop powertrain technology with its commercial partners to electrify existing fleets and bring electrified aircraft to market at scale.