Company: DAWN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026654
Chunk: 350

Company: Day One Biopharmaceuticals, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 350
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 100,565

    (53.2
    )%

    Income tax expense

    (7,144
    )

    —

    (7,144
    )
     
    *

    Net Loss
     
    $
    (95,496
    )
     
    $
    (188,917
    )
     
    $
    93,421

    (49.5
    )%

* Amount and/or percentage not meaningful

Product revenue, net

For the year ended December 31, 2024, we recorded net product revenue of $57.2 million from sales of OJEMDA in the United States, which included $2.8 million related to our named patient program in territories outside of the United States. Beginning in 2025, Ipsen has assumed primary responsibility for delivering these programs to patients in territories outside of the United States. 

License revenue

For the year ended December 31, 2024, we recorded license revenue of $73.9 million related to the Ipsen License Agreement.

Cost of product revenue

For the year ended December 31, 2024, we recorded cost of product revenue of $5.3 million related to sales of OJEMDA in the United States.

Research and development expenses 

Research and development expenses increased $97.2 million, from $130.5 million for the year ended December 31, 2023 to $227.7 million for the year ended December 31, 2024. Third-party expenses increased by $18.1 million due primarily to an increase in clinical trial and manufacturing activities, personnel related expenses increased by $6.6 million driven by headcount growth, and other research and development costs increased by $0.5 million. Additionally, license agreement payments increased by $72.0 million due to the payment of the MabCare license agreement upfront payment, accrual of the MabCare license agreement milestone payment, and payment of the Viracta license agreement amendment payment during the year ended December 31, 2024. 

119

The following table summarizes our external and internal research and development expenses for the years ended December 31, 2024 and 2023:

    Year EndedDecember 31,

    2024

    2023

    (in thousands)

    External costs:

    Third-party CRO, CMO and other third-party clinical trial costs (1)
     
    $
    89,400

    $