DAWN Stock Is in the Spotlight as Day One Announces Common Stock Offering

  • Day One Biopharmaceuticals (DAWN) stock is gaining on Tuesday despite stock offering news.
  • This is likely due to positive clinical trial results from Monday.
  • The company’s stock is also experiencing heavy trading today.
A pile of brightly colored pills in varying sizes and shapes representing DAWN Stock.

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Day One Biopharmaceuticals (NASDAQ:DAWN) stock is in the news Tuesday as a common stock offering has the company’s shares moving.

According to a press release, Day One Biopharmaceuticals is offering up $125 million worth of DAWN stock. The offering also includes a 30-day option for underwriters to buy an additional $18.75 million shares at the public offering price.

It’s worth mentioning that Day One Biopharmaceuticals doesn’t reveal the price of the shares in the offering. Instead, that’s something it will likely announce at a later day if it moves forward with the offering.

With today’s news comes heavy trading of DAWN stock. As of this writing, more than 6 million shares have changed hands. That’s well above its daily average trading volume of 1 million shares.

It’s worth pointing out that DAWN stock recently saw a massive rally on Monday. That came after the company revealed positive results from a Phase 2 clinical trial of tovorafenib. This is a treatment in development for pediatric tumors.

While it’s typical for a company’s shares to fall on common stock offering news, that isn’t the case with DAWN today. It’s likely that the positive clinical trial news is keeping shares up despite the stock offering news.

DAWN stock is up 1.3% as of Tuesday morning.

Investors on the lookout for more recent stock market news are going to want to keep reading!

We’ve got all the hottest stock market coverage that traders need to get through Tuesday! A few examples include what’s happening with shares of Continental Resources (NYSE:CLR) stock, Clovis Oncology (NASDAQ:CLVS) stock and Coinbase (NASDAQ:COIN) stock today. You can read all about these matters at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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