SCHEDULE 13G/A: RA Capital Management and Affiliates Maintain Significant Passive Stake in Day One Biopharmaceuticals

RA Capital Management, L.P. and its affiliates have filed an amended Schedule 13G, disclosing a continued passive beneficial ownership of 5.7% in Day One Biopharmaceuticals, Inc. as of December 31, 2024.

Summary

• RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, and RA Capital Healthcare Fund, L.P. (collectively, the "Reporting Persons") filed an Amendment No. 3 to Schedule 13G regarding their beneficial ownership of Common Stock in Day One Biopharmaceuticals, Inc.
• As of December 31, 2024, RA Capital Management, L.P., Peter Kolchinsky, and Rajeev Shah each beneficially owned 5,755,577 shares, representing 5.7% of Day One Biopharmaceuticals, Inc.'s Common Stock.
• RA Capital Healthcare Fund, L.P. beneficially owned 5,307,848 shares, representing 5.3% of the Common Stock.
• The total beneficial ownership of 5,755,577 shares includes 5,307,848 shares directly held by RA Capital Healthcare Fund, L.P. and 447,729 shares directly held by RA Capital Nexus Fund II, L.P.
• The percentage of class is calculated based on 100,846,294 shares of the Issuer's Common Stock outstanding as of October 24, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed on October 30, 2024.
• The Reporting Persons have shared voting and shared dispositive power over the reported shares.
• The filing explicitly states that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, consistent with a passive investment strategy.

Sentiment

Score: 7

Explanation: The filing indicates continued confidence from a significant institutional investor in Day One Biopharmaceuticals, Inc. through a passive, long-term holding. There are no negative disclosures or indications of activist intent, which is generally positive for stability.

Positives

• Continued significant passive investment by a specialized healthcare fund (RA Capital) indicates ongoing confidence in Day One Biopharmaceuticals, Inc.'s long-term prospects.
• The filing confirms a passive investment intent, assuring the market that the stake is not for control or activist purposes, which can contribute to market stability.

Risks

• The Reporting Persons disclaim beneficial ownership of the securities they hold for purposes of Section 13(d) of the Act, and therefore disclaim any obligation to report ownership of the reported securities under Section 13(d) of the Act, as they have delegated sole voting and investment power to RA Capital.
• RA Capital, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of the securities reported in this Schedule 13G other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing shall not be deemed an admission that they are the beneficial owners for any other purpose.

Future Outlook

NA

Industry Context

This filing reflects a continued passive investment by a specialized healthcare fund in a biopharmaceutical company. Such investments are common in the biotech sector, where institutional investors often take significant positions in companies with promising pipelines, indicating confidence in long-term growth rather than short-term control.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's continued passive stake, which can be viewed as a vote of confidence.

Key Dates

Keywords

Day One Biopharmaceuticals, RA Capital Management, Schedule 13G/A, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, Healthcare Fund, Biotechnology, SEC Filing