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Why Shares of Day One Pharmaceuticals Are Up Monday

TheMotleyFool 
0 0 05.06.23
Why Shares of Day One Pharmaceuticals Are Up Monday: https://g.foolcdn.com/editorial/images/735127/young-patient-with-doctor-at-appointment.jpg
 

Shares of Day One Pharmaceuticals (NASDAQ: DAWN) were up by more than 13% on Monday morning a day after the clinical-stage biotech released updated trial information regarding its lead therapy. The stock is still down more than 29% so far this year.

Day One, which specializes in targeted therapies to treat genetically defined life-threatening diseases, released early data from its phase 2 study of DAY101 (tovorafenib) as a treatment for pediatric low-grade glioma at the American Society of Clinical Oncology annual meeting. This type of cancer is the most common cause of brain and spinal tumors in children.

The company said the drug showed an overall response rate of 67%, and among  heavily pretreated patients showed a clinical benefit rate of 93% based on the Response Assessment for Neuro-Oncology High-Grade Glioma criteria. DAY101 is an investigational oral therapy that is a pan-RAF kinase inhibitor with the ability to cross the blood-brain barrier. 

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Source Fool.com

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