Day One Biopharmaceuticals shares jump 23% on positive results for glioma treatment

Day One Biopharmaceuticals
DAWN,
-0.37%
shares climbed 23% in premarket trading Monday after the company shared new data on tovorafenib, an investigational treatment for relapsed or progressive pediatric low-grade glioma. Trial data showed high rates of durable tumor reduction and a safety profile that allows for potential long-term dosing, the company said in a release. Day One initiated a rolling Food and Drug Administration submission of its new drug application for tovorafenib in May, which it expects to complete in October, the company said. Day One shares are down 37% in the year to date, while the S&P 500
SPX,
+1.45%
is up 11.5%.