Samuel C. Blackman, Head of Research and Development at Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN), recently sold 30,000 shares of the company's common stock. The shares were sold at a weighted average price of $13.3113, amounting to a total transaction value of $399,339. The transaction comes as DAWN trades near its 52-week low of $11.94, with the stock down nearly 10% year-to-date. InvestingPro analysis shows the company maintains exceptional liquidity with a current ratio of 14.6. This transaction, dated December 10, 2024, was executed under a Rule 10b5-1 trading plan that Blackman adopted in October 2023.
Following the sale, Blackman retains direct ownership of 1,034,015 shares. Additionally, he maintains indirect ownership of 1,000,000 shares through the 2021 Blackman Family LLC, where he shares voting and dispositive power with his wife. Blackman disclaims beneficial ownership of these shares except for his and his wife's pecuniary interest.
In other recent news, Day One Biopharmaceuticals announced the upcoming retirement of co-founder and Head of Research & Development, Dr. Samuel Blackman, by the end of 2024. In the interim, the company will continue its search for a new head while Dr. Blackman serves in an advisory role. Recent developments also include significant earnings and revenue results, with the company's product, Ojemda, recording sales of $20.1 million for the third quarter of 2024. The company has also recently acquired DAY301, a promising PTK7-targeting antibody-drug conjugate for solid tumors. Analyst firms such as H.C. Wainwright, Piper Sandler, and Needham have maintained their Buy ratings on the company, with Goldman Sachs (NYSE:GS) also reaffirming its Buy rating. These updates reflect the recent activities and strategic directions of Day One Biopharmaceuticals.
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