IDEAYA Biosciences (NASDAQ: IDYA) outlines GSK exit and 2030 cash runway

Rhea-AI Filing Summary

IDEAYA Biosciences reports that GlaxoSmithKline Intellectual Property (No. 4) Limited has elected to terminate their Collaboration, Option and License Agreement dated June 15, 2020. The termination becomes effective on March 9, 2026, ninety days after GSK’s written notice on December 9, 2025.

During this 90-day transition period, GSK will transfer the Werner Helicase (IDE275) and Pol Theta (IDE705) clinical programs back to IDEAYA. The company plans to evaluate strategic options for these two programs in 2026 and states that this update does not change its expectation of a cash runway into 2030.

IDEAYA also includes forward-looking statements highlighting risks typical for drug development, such as early-stage program uncertainty, clinical and regulatory processes, manufacturing and commercialization challenges, pricing and reimbursement negotiations, protection of intellectual property, and factors that could affect whether existing cash is sufficient to fund operations.

Insights

Biotech collaboration and capital planning analyst

GSK ends a key IDEAYA collaboration but returns two programs, while IDEAYA reiterates cash runway into 2030.

GlaxoSmithKline Intellectual Property (No. 4) Limited has elected to terminate its June 15, 2020 Collaboration, Option and License Agreement with IDEAYA Biosciences, with the termination taking effect on March 9, 2026 after a 90-day notice period. During this transition, GSK will transfer the Werner Helicase (IDE275) and Pol Theta (IDE705) clinical programs to IDEAYA in line with the agreement provisions, meaning IDEAYA will directly oversee these assets once the transition is complete.

IDEAYA states that it will evaluate strategic options for IDE275 and IDE705 in 2026, which could encompass how these programs fit within its broader portfolio and development priorities. Importantly, management notes that this update does not change its expectation of having a cash runway into 2030, indicating that the company believes its current capital resources remain adequate under its planning assumptions despite the collaboration change.

The company also reiterates standard biotech risk factors, including uncertainties of early-stage programs, clinical and regulatory processes, manufacturing and commercialization challenges, pricing and reimbursement negotiations, intellectual property protection, and the sufficiency of cash to fund operations. These points underscore that the eventual outcomes for IDE275, IDE705 and the broader pipeline will depend on future development, regulatory, and commercial milestones described in its ongoing SEC reports.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 9, 2025

IDEAYA Biosciences, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-38915		47-4268251
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification Number)

5000 Shoreline Court, Suite 300

South San Francisco, California 94080

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (650) 443-6209

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		IDYA		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.02 Termination of a Material Definitive Agreement.

On December 9, 2025, GlaxoSmithKline Intellectual Property (No. 4) Limited (“GSK”) delivered written notice to IDEAYA Biosciences, Inc. (the “Company”) of its election to terminate the Collaboration, Option and License Agreement, dated June 15, 2020 (as amended, the “Agreement”). This written notice constituted GSK’s formal written follow-up to its December 4 communication to the Company regarding the termination, as referenced in the Company’s Form 8-K filed on December 5, 2025. Pursuant to the terms of the Agreement, such termination will be effective ninety (90) days following the date of GSK’s notice, which is March 9, 2026. During the ninety-day transition period, GSK will transfer the Werner Helicase (IDE275) and Pol Theta (IDE705) clinical programs to the Company in accordance with the applicable provisions of the Agreement. The Company will evaluate its strategic options for these two programs in 2026, and the update does not change its expectation of cash runway into 2030.

The Agreement is filed as Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2020, Exhibit 10.18 to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 18, 2022 and Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2022. For a summary of the material terms of the Agreement, please see Note 10, Significant Agreements, to Company’s financial statements for the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 18, 2025, which summary is incorporated by reference herein.

Forward-Looking Statements

Certain statements contained herein are forward-looking statements, including, but not limited to, statements related to the transfer of IDE275 and IDE705 clinical programs from GSK to the Company and the cash runway guidance. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s preclinical and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including the Company’s programs’ early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing or commercialization of drug products, the outcome of pricing, coverage and reimbursement negotiations with third-party payors for the Company’s products, the Company’s ability to successfully establish, protect and defend its intellectual property, and other matters that could affect the sufficiency of existing cash to fund operations. The Company undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the Company’s Annual Report on Form 10-K dated February 18, 2025 and any current and periodic reports filed or furnished with the Securities and Exchange Commission.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				IDEAYA BIOSCIENCES, INC.
Date: December 12, 2025				By:		/s/ Yujiro Hata
						Yujiro Hata
						President and Chief Executive Officer

FAQ

What did IDEAYA Biosciences (IDYA) disclose about its collaboration with GSK?

IDEAYA Biosciences disclosed that GlaxoSmithKline Intellectual Property (No. 4) Limited has elected to terminate their Collaboration, Option and License Agreement dated June 15, 2020. The notice was delivered on December 9, 2025 and triggers a 90-day transition period.

When will the termination of the GSK collaboration with IDEAYA (IDYA) become effective?

The termination of the collaboration between IDEAYA Biosciences and GSK will become effective ninety (90) days after GSK’s notice, on March 9, 2026.

Which IDEAYA (IDYA) clinical programs are affected by the GSK termination?

During the 90-day transition period, GSK will transfer two clinical programs to IDEAYA: the Werner Helicase (IDE275) program and the Pol Theta (IDE705) program, in accordance with the agreement.

How does the end of the GSK collaboration affect IDEAYA Biosciences' cash runway guidance?

IDEAYA states that this update related to the GSK termination and program transfers does not change its expectation of a cash runway into 2030.

What does IDEAYA (IDYA) plan to do with IDE275 and IDE705 after the GSK transition?

IDEAYA notes that it will evaluate its strategic options for the IDE275 and IDE705 clinical programs in 2026 after they are transferred from GSK.

What key risks and uncertainties does IDEAYA highlight in connection with its programs and cash runway?

IDEAYA cites risks typical for drug development, including the early stage of its programs, challenges in designing and conducting preclinical and clinical trials, the regulatory approval processes, manufacturing and commercialization challenges, pricing, coverage and reimbursement negotiations, protection and defense of intellectual property, and factors that could affect whether existing cash is sufficient to fund operations.