Shares of Day One Pharmaceuticals Inc. DAWN jumped 21% in premarket trading on Monday after the company shared positive data from an ongoing Phase 2 clinical trial for its glioma treatment. Glioma is the most common type of brain tumor in children. The study is assessing tovorafenib; so far, the drug has produced an overall response rate in 64% of participants. Day One said it plans to begin the Food and Drug Administration approval process in the first half of this year. The company’s stock has declined 33.6% over the past 12 months, while the S&P 500 SPX is down 17.0%.
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