Day One Biopharmaceuticals' Q4 2024: Diverging Insights on Patient Starts, Sales Growth, and Inventory Strategies

These are the key contradictions discussed in Day One Biopharmaceuticals' latest 2024Q4 earnings call, specifically including: Patient Starts and Sales Momentum, and Inventory and Stock Levels:



OJEMDA Revenue Growth and Market Penetration:
- Day One Biopharmaceuticals reported net product revenues for OJEMDA totaled more than $57 million for 2024, with $29 million in the fourth quarter alone, representing a 44% growth from Q3.
- The growth was driven by a consistent increase in new patient starts, high percentage of patient continuations, and CMS granting OJEMDA exclusive pediatric designation, leading to a reduction in gross to net deductions.

Pipeline Expansion and Clinical Trial Progress:
- The company advanced enrollment in Phase III frontline pLGG trial FIREFLY-2, now open at more than 110 sites globally.
- Day One also expanded its pipeline with the acquisition of DAY301, which cleared the first dose cohort in its Phase Ia/b trial, indicating progress in its clinical stage development.

Financial Strength and Strategic Investments:
- Day One ended 2024 with over $500 million in cash, reflecting a strong financial position that allows for continued investment in pipeline development and growth.
- The company's strategic investments, including the licensing of DAY301 and its OJEMDA commercialization efforts, are focused on long-term value creation.

Commercialization and Market Access Strategy:
- OJEMDA received broad coverage, with over 75% of covered lives having published policies and 95% of on-label patients receiving coverage.
- The company's strategy focuses on expanding the prescriber and patient base for OJEMDA, with a significant opportunity to drive growth through increased depth and breadth of prescribing.