Day One Biopharmaceuticals slides on stock offering
07/06/2023 12:14
** Shares of therapy developer Day One Biopharmaceuticals
Inc DAWN.O down 3.8% at $13.82 in premarket trade
** Co late Tuesday announced it has commenced underwritten
public offering of $150.0 mln shares of common stock
** All the shares are being offered by co, with an option
for underwriters to purchase an additional $22.5 mln of shares
of common stock at public offering price
** J.P. Morgan, TD Cowen and Piper Sandler are joint
book-running managers for the proposed offering
** Co has a market cap of $1.06 bln, with 73.57 mln
outstanding shares, as per Refinitiv data
** Nine of 11 brokerages rate the stock "buy" or higher, 1
"hold" and 1 "sell" or lower; their median PT is $40.00 -
Refinitiv
** As of last close, stock was down 33.222% YTD
(Reporting By Akshita Toshniwal in Bengaluru)
((Akshita.Toshniwal@thomsonreuters.com))