Lauren Merendino
About Lauren Merendino
Lauren Merendino is Chief Commercial Officer (CCO) at Day One Biopharmaceuticals, serving since June 2023; she was designated an “executive officer” and Section 16 officer in February 2025. She is 50, holds a B.S. in Microbiology (Penn State) and an MBA (NYU), and previously held senior commercial roles at Myovant and Genentech. Her tenure coincides with the U.S. launch and rapid uptake of OJEMDA (tovorafenib): 2024 net product revenue was $57.2M, and quarterly revenue progressed from $30.5M in Q1 2025 to $38.5M in Q3 2025, with 2025 YTD reaching $102.6M and guidance raised to $145–$150M for 2025, highlighting strong commercial execution under her remit .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Myovant Sciences | Chief Commercial Officer | 2021–2023 | Oversaw two product launches across three indications in <2 years, driving rapid commercial scale-up . |
| Genentech | VP, Neurological Rare Diseases; Senior Director, Pipeline (Neuroscience, Rare Disease, Pediatrics, Anti-infectives) | 2009–2021 | Led cross-functional teams; launched new treatment for spinal muscular atrophy in pediatric rare disease; established product as standard of care . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| ESSA Pharma Inc. | Lead Independent Director | Jun 2023–Mar 2025 | Board leadership experience in biopharma; stepped down March 2025 . |
Fixed Compensation
- Not disclosed for Merendino. She was not a Named Executive Officer (NEO) for fiscal 2024, and the Summary Compensation Table includes only the CEO, COO/CFO, Head of R&D, and General Counsel .
- She became an executive officer in Feb 2025; no base salary or bonus amounts specific to her are disclosed in the 2025 proxy .
Performance Compensation
- Annual cash bonus framework (company-wide for executives): 2024 objectives were set across four categories with pLGG program goals weighted at 60%; the Compensation Committee approved a 2024 company performance multiplier of 123% (applied to executive bonuses). Participation and target bonus for Merendino were not disclosed .
| Metric Category (2024) | Weighting | Outcome/Payout Factor | Notes |
|---|---|---|---|
| pLGG Program (clinical/regulatory/commercial) | 60% | Included in 123% aggregate company multiplier | Emphasis on OJEMDA progress . |
| Finance | Part of remaining 40% | Included in 123% aggregate company multiplier | Company-wide goals . |
| Corporate Development | Part of remaining 40% | Included in 123% aggregate company multiplier | Company-wide goals . |
| FIREFLY-1 | Part of remaining 40% | Included in 123% aggregate company multiplier | Company-wide goals . |
- Long-term equity design for NEOs (context for incentive mix): 50% stock options and 50% RSUs, with options vesting monthly over 4 years and RSUs vesting quarterly over 4 years; 2024 grants were targeted between the 30th–80th percentile of peers. Merendino’s specific equity awards/values were not disclosed .
Equity Ownership & Alignment
- Individual beneficial ownership for Merendino is not shown in the Security Ownership table (as of March 20, 2025); thus, no share count or percent outstanding for her is disclosed .
- Hedging and pledging: Prohibited for all covered persons (directors, officers, employees, consultants). Covered persons are also barred from trading company options/derivatives; the policy is filed as an exhibit to the 2024 10-K .
- Rule 10b5-1 plans: Certain executives/directors use pre-arranged trading plans; policy framework disclosed .
- Clawback policy: Adopted December 2023 under SEC/Nasdaq rules; enables recovery of incentive pay tied to financial reporting measures in the event of restatements (three-year lookback) .
Employment Terms
- Practice: “At-will” employment with offer letters; change-in-control and severance agreements are in place for NEOs, featuring double-trigger acceleration on CIC, salary/target bonus severance, and COBRA premiums. Agreements are described for NEOs; no Merendino-specific agreement terms are disclosed .
- Related party transactions: None reportable since Jan 1, 2024 (other than compensation) .
OJEMDA Commercial Performance During Merendino’s Tenure
| Period | OJEMDA Net Product Revenue ($M) | Source |
|---|---|---|
| Q2 2024 (Launch partial) | 8.2 | |
| Q3 2024 | 20.1 | |
| Q4 2024 | 29.0 | |
| Q1 2025 | 30.5 | |
| Q2 2025 | 33.6 | |
| Q3 2025 | 38.5 |
- 2024 net product revenue totaled $57.2M, with improving payer dynamics (CMS pediatric designation benefits) and high approval rates; depth and breadth of prescribing expanded across priority accounts .
- 2025 momentum: 15% sequential revenue growth in Q3 2025, 19% growth in new patient starts, ~90% first-request approvals; guidance raised to $145–$150M 2025 net product revenue .
Compensation Structure Analysis (signals)
- Incentive mix favors equity and performance variability; for NEOs, options/RSUs are 50/50 with multi-year vesting, reinforcing retention and long-term alignment. 2024 equity targets were sized within the 30th–80th percentile range of peers, balancing competitiveness and dilution .
- Annual bonus framework emphasizes the pLGG program (60% weight), aligning executives with OJEMDA commercialization milestones; company payout factor for 2024 was 123%, indicating outperformance versus goals that year .
- Red flag to monitor: The Board approved an option repricing in October 2025 for options with strikes ≥$8 (to the then-current closing price) to retain and motivate contributors without incremental dilution/cash; NEO-specific repriced counts were disclosed, suggesting broader employee participation. This improves in-the-money leverage but introduces governance scrutiny typical of repricings .
Track Record, Value Creation, and Execution Risk
- Achievements: Rapid revenue ramp, expanding prescriber base, high coverage approval rates, and improved persistency metrics since launch underscore commercial execution under her leadership .
- Risks: Biopharma launch durability and payer dynamics; continued adoption in second-line setting remains a key lever. Company-wide bonus metrics in 2024 emphasized clinical/commercial milestones rather than financial measures in Pay vs Performance disclosures, consistent with lifecycle stage .
Investment Implications
- Alignment: Prohibitions on hedging/pledging, presence of a clawback policy, and multi-year equity vesting support alignment; however, the lack of disclosed personal ownership and award details for Merendino limits “skin-in-the-game” visibility for investors .
- Retention and selling pressure: Without Form 4 data or an ownership table entry, there is no visibility into her vested/unvested balances, option moneyness or potential selling overhang; monitor future proxy/Section 16 filings for grant/vesting cadence. The 2025 option repricing may reduce underwater overhang and near-term turnover risk across the exec/employee base .
- Pay-for-performance: Company incentive design (heavy pLGG weighting; 123% company multiplier for 2024) ties leadership’s cash bonuses to commercial/clinical objectives that have visibly progressed under her remit (revenue and prescriber growth), suggesting reasonable linkage for 2024–2025 .
- Monitoring list: Upcoming proxy or 8-Ks for Merendino-specific compensation (base, target bonus, equity grants and vesting), any Rule 10b5-1 plan adoptions, and insider transactions; track OJEMDA growth vs. 2025 guidance and payer trends as leading indicators for future incentive payouts and potential insider selling windows .