Company: DAWN
Filing Date: 2025-11-13
Form Type: SC TO-C
Source: 0001104659-25-110815
Chunk: 8

Company: Day One Biopharmaceuticals, Inc.
Filing Date: 2025-11-13
Form: SC TO-C
Chunk 8
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 upon the achievement of the first time that cumulative Net Sales (as defined in the CVR Agreement) of Emi-Le 
 in any calendar year ending on or before December 31, 2032 is equal to or exceeds $100.0 million;                                   |

| · | $4.00 per CVR, payable upon the achievement of the first time that cumulative Net Sales of Emi-Le in any calendar year ending on or 
 before December 31, 2035 is equal to or exceeds $200.0 million;                                                                     |

| · | $6.00 per CVR, payable upon the achievement of the first time that cumulative Net Sales of Emi-Le in any calendar year ending on or 
 before December 31, 2037 is equal to or exceeds $300.0 million;                                                                     |

| · | $2.00 per CVR, payable upon the occurrence of the First Commercial Sale (as defined in the CVR Agreement) of Emi-Le in the first to      
 occur of France, Germany, Italy, Spain or the United Kingdom (the “European First Sale Milestone”) on or before December 31,             
 2030 (the “European First Sale Milestone End Date”); provided, however, that the European First Sale Milestone will be deemed            
 to have occurred if, at any time on or before the European First Sale Milestone End Date, cumulative Net Sales of Emi-Le in the European 
 Union and the United Kingdom is equal to or exceeds $10.0 million; and                                                                   |

| · | $1.00 per CVR, payable upon the First Commercial Sale of Emi-Le in Japan on or before December 31, 2030. |

There can be no assurance that any Milestone will be achieved prior
to its expiration or termination of the CVR Agreement, or that payment will be required of Parent with respect to any Milestone.

The foregoing description of the CVR Agreement does not purport to
be complete and is qualified in all respects by reference to the full text of the form of the CVR Agreement, a copy of which is attached
as Exhibit 10.2 hereto and is incorporated by reference herein.

| Item 7.01 | Regulation FD Disclosure. |

On November 13, 2025, Parent issued a press
release in connection with the execution of the Merger Agreement. A copy of the press release is attached hereto as Exhibit 99.1.

On November 13, 2025, Parent