The filing is procedurally significant but not financially transformative. Traders should focus on the pending Servier acquisition as the primary catalyst. The option repricing, while a negative signal about past stock performance, is a common retention tool in the biotech sector and should be viewed in the context of the company's acquisition. Monitor for the closing of the merger as the next major event.
Price Chart
Executive Summary
This is an amended 10-K filing by Day One Biopharmaceuticals to include Part II and Part III disclosures that were omitted from the original filing, primarily because the company did not intend to file a proxy statement within 120 days of its fiscal year-end. The amendment includes comprehensive details on executive compensation, board composition, director compensation, and equity plan information. A key event disclosed is the repricing of underwater stock options for executives and directors to $8.99 per share to retain talent, and the filing confirms the company's pending acquisition by Servier Pharmaceuticals.
Key Facts
- The amendment was filed to include required Part II and Part III disclosures omitted from the original 10-K, not due to financial restatements or errors.
- The company's pending acquisition by Servier Pharmaceuticals was announced on March 6, 2026, which explains the lack of a proxy statement.
- An option repricing event occurred on November 6, 2025, reducing the exercise price of underwater options for executives and directors from prices as high as $23.41 to $8.99 per share, the then-current market price, to retain talent.
- CEO Jeremy Bender's total compensation for 2025 was $9.1 million, with a CEO-to-median-employee pay ratio of 24:1.
- The company has a $2.2B market cap and is headquartered in Brisbane, CA.
Financial Impact
The option repricing is a non-cash accounting event that resets the strike price of existing options. While it does not immediately dilute shareholders, it reduces the future value capture for the company if the stock price recovers, as employees can now exercise at a lower price. The total target equity value granted to the CEO in 2025 was $5.4 million.
Risk Factors
- The option repricing could be perceived negatively by shareholders as it rewards executives for poor stock performance, potentially leading to shareholder dissent.
- The pending acquisition by Servier creates execution risk; the deal could fail to close due to regulatory or other issues.
- The company reported a net loss of $107.3 million for 2025, which is a key financial risk factor.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-K/A Filing (Primary) | 0001193125-26-161471 |
| Document: dawn-ex31_3.htm | 0001193125-26-161471 |
| Document: dawn-ex31_4.htm | 0001193125-26-161471 |
| Document: 0001193125-26-161471-index-headers.html | 0001193125-26-161471 |
| Document: 0001193125-26-161471-index.html | 0001193125-26-161471 |
| Document: 0001193125-26-161471.txt | 0001193125-26-161471 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 4, 2026 21w ago | 15-12G | — | awaiting T+1 | — | — |
Apr 23, 2026 23w ago | 25-NSE | $21.53 $21.53 | · 0.00% | ▼ −0.78% | — |
Apr 23, 2026 23w ago | 8-K | $21.53 $21.53 | · 0.00% | ▼ −0.78% | — |
Apr 17, 2026 23w ago | 10-K/A | $21.48 $21.49 | ▲ +0.05% | ▲ +0.70% | — |
Mar 6, 2026 30w ago | Press Release | $21.20 $21.33 | ▲ +0.61% | ▼ −0.23% | — |
Feb 24, 2026 31w ago | 8-K | $10.92 $10.65 | ▼ −2.43% | ▼ −1.88% | — |
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