IDEAYA Biosciences, Inc. - IDYA STOCK NEWS

IDEAYA Biosciences (NASDAQ: IDYA) has announced the dosing of the first patient in two combination therapy cohorts involving IDE397, a MAT2A inhibitor, in patients with MTAP-deletion tumors. This includes combinations with pemetrexed and taxanes, presenting a potential first-in-class option. The Phase 1/2 trial, which aims to evaluate clinical efficacy, builds on positive preclinical data demonstrating robust tumor target engagement. Additionally, IDEAYA plans to assess IDE397 in collaboration with AMG 193, targeting dual signaling pathways in these tumors.

IDEAYA Biosciences (NASDAQ:IDYA) announced the closure of its public offering of 8,761,905 shares of common stock at $10.50 per share, raising approximately $92 million before underwriting costs. This includes the complete exercise of the underwriters' option for an additional 1,142,857 shares. J.P. Morgan, Jefferies, Citigroup, and Guggenheim Securities led the offering, conducted under an SEC-approved shelf registration statement. IDEAYA focuses on precision medicine in oncology, utilizing synthetic lethality in its therapeutic development.

IDEAYA Biosciences, Inc. (Nasdaq: IDYA) announced a public offering of 7,619,048 shares of its common stock priced at $10.50 per share, aiming to raise approximately $80.0 million before expenses. The offering includes an option for underwriters to purchase up to an additional 1,142,857 shares. The gross proceeds could increase if the option is exercised. The transaction is expected to close on or around September 19, 2022. Key underwriters include J.P. Morgan, Jefferies, Citigroup, and Guggenheim Securities.

IDEAYA Biosciences (Nasdaq:IDYA) announced its intention to offer and sell up to $80.0 million in common stock through an underwritten public offering, with a potential additional $12.0 million from over-allotment options. The offering is contingent on market conditions and other factors, with no guaranteed completion date or terms. The underwriters include major banks like J.P. Morgan and Jefferies. This offering is made under a previously filed shelf registration statement with the SEC, and related prospectus information will be available through the underwriters.

IDEAYA Biosciences (IDYA) announced interim results from its Phase 2 clinical trial of darovasertib and crizotinib in metastatic uveal melanoma (MUM). The trial showed a **50% overall response rate** (ORR) in first-line MUM patients and an **89% tumor shrinkage** rate in any-line MUM patients. The observed median progression-free survival (PFS) was over **5 months** in first-line MUM patients. No FDA-approved therapies exist for GNAQ and GNA11 solid tumors, indicating a high unmet medical need. IDEAYA plans to initiate a registration-enabling trial in Q1 2023.

IDEAYA Biosciences has initiated an Investigator Sponsored Trial (IST) in Australia to evaluate darovasertib as a monotherapy for primary, non-metastatic uveal melanoma (UM). Preliminary signs of clinical activity show tumor shrinkage in patients following treatment. With an annual incidence of about 8,700 patients in the US and EU, (neo)adjuvant UM represents an unmet medical need. The trial aims to assess the feasibility and tolerability of darovasertib, following anecdotal evidence of effectiveness. Clinical proof-of-concept data is expected in September 2022.

IDEAYA Biosciences (NASDAQ: IDYA) announced its participation in several key investor conferences in September 2022. These include Citi's 17th Annual BioPharma Conference (Sept 7-8), Wells Fargo Healthcare Conference (Sept 7-9), Morgan Stanley's Global Healthcare Conference (Sept 12-14), Baird's Global Healthcare Conference (Sept 13-14), Oppenheimer's Oncology Summit (Sept 21), and Cantor's HemOnc Conference (Sept 28). Notable presentations will feature CEO Yujiro Hata and CFO Paul Stone. Live audio webcasts will be accessible on IDEAYA's website.

IDEAYA Biosciences has achieved a preclinical development milestone for its Pol Theta Helicase Inhibitor DC in collaboration with GSK, facilitating IND-enabling studies. The company anticipates potential preclinical and clinical milestone payments up to $20 million, including $10 million for IND effectiveness. Targeting first-in-human trials in H1 2023, IDEAYA aims for IND submission to advance this potential first-in-class therapy for patients with HR mutations. IDEAYA can benefit from up to $485 million in total milestones, plus commercial royalties.

IDEAYA Biosciences (IDYA) announced its Q2 2022 financial results, reporting a cash position of $324 million anticipated to fund operations into 2025. The company initiated Phase 2 expansion of IDE397 and entered a collaboration with Amgen for clinical trials in MTAP-null solid tumors. Despite a net loss of $22.1 million for Q2 2022, IDEAYA's pipeline shows promise with expected clinical data updates in September 2022 and IND submissions planned for Q4 2022.