Ideaya Biosciences Stock Price, News & Analysis

IDEAYA Biosciences, Inc. (Nasdaq:IDYA), a precision medicine company focusing on oncology, announced its participation in several investor relations events in September 2020. Key events include:

• JP Morgan CEO Series on September 8
• Citi 15th Annual BioPharma Conference on September 9
• RW Baird Global Health Care Conference on September 10
• H.C. Wainwright 22nd Annual Global Investment Conference on September 14
• Cantor Fitzgerald Global Healthcare Conference on September 17

Live webcasts of the events will be available on their website.

IDEAYA Biosciences, Inc. (IDYA) reported a transformative Q2 2020, with cash reserves of $172 million and an additional $127.5 million in gross proceeds to fund operations into 2024. The strategic partnership with GSK offers up to $3 billion in milestone opportunities across pipeline programs. Key developments include the nomination of IDE397 for MAT2A and progress on IDE196 in clinical trials. R&D expenses decreased slightly to $8.6 million, while G&A expenses increased to $4 million, contributing to a net loss of $12.4 million.

IDEAYA Biosciences (Nasdaq: IDYA) announced the effectiveness of its strategic partnership with GlaxoSmithKline (GSK) after receiving clearance under the Hart-Scott-Rodino Act. This collaboration includes an upfront cash payment of $100 million and focuses on Synthetic Lethality programs. Additionally, IDEAYA closed a direct private placement equity financing with Glaxo Group, raising approximately $20 million by selling 1,333,333 shares at $15.00 each. IDEAYA expects sufficient funds to support operations into 2024.

IDEAYA Biosciences (Nasdaq: IDYA) announced the achievement of clinical protocol criteria for cohort expansion in the Phase 2 basket trial of IDE196 targeting melanoma patients with GNAQ or GNA11 mutations. The trial has enrolled 5 patients, including 1 with a confirmed partial response. If further responses are observed, an additional 15 patients may join, bringing total enrollment to 24. IDEAYA anticipates interim data for IDE196 monotherapy in early 2021, while the impact of Covid-19 on trials is being monitored.

IDEAYA Biosciences (Nasdaq: IDYA) announced its participation in two investor conferences in August 2020. CEO Yujiro S. Hata will engage in a fireside chat at the BTIG Virtual Biotechnology Conference on August 11 at 1:00 pm EST. He will also participate in the Wedbush PacGrow Healthcare Virtual Conference on August 12 at 8:00 am EST, discussing his recent report on synthetic lethality in cancer. Live webcasts will be available on IDEAYA's website, with replays accessible for 30 days afterward.

IDEAYA Biosciences (NASDAQ:IDYA) announced the First-Patient-In in a Phase 1 study evaluating the combination of IDE196 and binimetinib for metastatic uveal melanoma (MUM). This collaboration with Pfizer aims to enhance IDE196's clinical activity through rational combinations. The company is also focusing on IDE196's monotherapy in non-MUM settings. Preliminary data from the MEK combination study is expected in late 2021 to early 2022, potentially leading to a registrational path for MUM and future partnerships.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) appointed Garret Hampton, Ph.D. to its Board of Directors on June 30, 2020. Dr. Hampton, with over 25 years of experience, is currently President of Clinical Sequencing and Oncology at Thermo Fisher Scientific and has held significant roles at Illumina and Genentech. His expertise in biomarker discovery is seen as crucial for advancing IDEAYA's Synthetic Lethality programs, notably targeting MTAP-deletion in solid tumors. The company aims to enhance global access to oncology diagnostics as it progresses its targeted therapies.

IDEAYA Biosciences, Inc. (Nasdaq: IDYA) has priced an underwritten public offering of 6,666,667 shares of its common stock at $15.00 per share, potentially raising $100 million in gross proceeds. The offering includes an option for underwriters to purchase an additional 1,000,000 shares. Proceeds will support the development of IDE397, IDE196, and other pipeline candidates, as well as general corporate purposes. The offering is scheduled to close around June 22, 2020.

IDEAYA Biosciences, Inc. (Nasdaq:IDYA) announced a proposed public offering of up to $60 million in common stock, with an additional $9 million option for underwriters. Proceeds will fund development of drug candidates including IDE397 and IDE196, along with biomarker research and working capital. The offering is subject to market conditions and will utilize a shelf registration statement previously filed with the SEC. J.P. Morgan, Citigroup, and Jefferies are acting as joint book-running managers.