10-K/A: Day One Biopharmaceuticals Amends 10-K Filing to Correct Accounting Firm Consent and Audit Report References

Sentiment:

10-K/A Amendment


Day One Biopharmaceuticals files an amendment to its 2024 annual report to correct errors in the independent accounting firm's consent and references within the audit reports.

Capital raiseIn July 2024, the Company entered into a securities purchase agreement with certain institutional and accredited investors, or the PIPE Investors, pursuant to which the Company agreed to sell and issue to the PIPE Investors in a private placement, or the Private Placement, an aggregate of (i) 10,551,718 shares of the Company’s common stock, par value $0.0001 per share, at a purchase price of $14.50 per share and (ii) 1,517,241 pre-funded warrants, or the Pre-Funded Warrants, to purchase up to an aggregate of 1,517,241 shares of the Company's common stock, or the Warrant Shares, at a purchase price of $14.4999 per Pre-Funded Warrant.The Private Placement closed on August 1, 2024 and the Company received net proceeds of $166.5 million, after deducting placement agent fees, offering costs, and other expenses, of which $145.6 million was allocated to the common stock and $20.9 million was allocated to the Pre-Funded Warrants.

Summary

  • Day One Biopharmaceuticals filed an amendment (Form 10-K/A) to its original Form 10-K for the fiscal year ended December 31, 2024.
  • The amendment corrects the consent filed as Exhibit 23.1, which contained an incorrect date, omitted reference to registration statements, and referenced the incorrect location of the accounting firm's office.
  • The amendment also corrects references between the Audit Reports and the financial statements in Part II, Item 8 of the original filing.
  • No other financial or other information in the original filing has been restated, amended, or updated.
  • The amendment includes the entire text of Item 8 and Item 9A from the original filing, as well as new certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002.
  • The aggregate market value of the common equity held by non-affiliates of the Registrant, based on the closing price of the shares of common stock on June 30, 2024, was approximately $971.5 million.
  • The number of shares of Registrant's Common Stock outstanding as of February 20, 2025 was 101,354,516.

Sentiment

Score: 7

Explanation: The document is neutral as it primarily addresses corrections to a previous filing. The financial results included are from the original filing and do not inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine amendment to correct administrative errors and does not reflect any changes in the company's business operations or financial condition.

Key Dates

DateDescription
2019-12-16Date of Takeda Asset Agreement
2021-02-10Date of License agreement with Merck KGaA, Darmstadt, Germany
2021-05-26Effective date of 2021 Employee Stock Purchase Plan
2022-06-30Date of Sales Agreement
2023-08-15Date of Research collaboration and license agreement with Sprint Bioscience AB
2024-03-04Date of Amendment No. 1 to the License Agreement for RAF
2024-04-23FDA approved OJEMDA
2024-05-29Date of Asset Purchase Agreement
2024-06-17Date of Exclusive License Agreement by and between MabCare Therapeutics and Day One Biopharmaceuticals, Inc.
2024-07-23Date of Exclusive License Agreement by and between Day One Biopharmaceuticals, Inc. and Ipsen Pharma SAS
2024-08-01Private Placement closed
2024-12-03Viracta assigned the Viracta License Agreement to XOMA (US) LLC
2024-12-31End of fiscal year
2025-02-20Number of shares of Registrant's Common Stock outstanding
2025-02-25Original Filing Date
2025-03-06Date of Amendment No. 1

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