Day One (DAWN) Soars 100% on $2.5-Billion Merger

Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) is one of the 10 Stocks Investors Are Watching Closely This Week.

Day One soared by 100 percent week-on-week, as investors gobbled up its shares following an acquisition that it is set to be taken private and tendered at a 68 percent upside.

In a statement earlier in the week, Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) said that it is set to be acquired by France-based Servier for a transaction worth $2.5 billion.

Photo by Christina Victoria on Unsplash

Under the agreement, all issued and outstanding shares of Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) will be tendered at $21.50 apiece, or a 68 percent upside from the $12.78 closing price prior to the announcement.

According to the companies, the transaction is expected to be closed in the second quarter of the year, subject to customary closing conditions, including shareholder approval.

“Servier’s successful track record in rare cancers and its commitment to advancing targeted therapies make it the ideal home for our portfolio as part of Day One’s mission to bring medicines to patients of all ages with life-threatening diseases,” Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) CEO Jeremy Bender said.

“Joining Servier represents a unique opportunity to extend the reach of our science and our lead program in pediatric low‑grade glioma. Importantly, Servier’s dedication to the rare disease community preserves the patient‑first mindset that has defined our company since the beginning and has driven our deep commitment to the communities we serve,” he noted.

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