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IDEAYA Biosciences, Inc. (NASDAQ: IDYA) is an innovative biotechnology firm concentrated on oncology. Established in 2015 and headquartered in South San Francisco and La Jolla, California, the company is dedicated to the discovery and development of precision medicine therapies for genetically defined patient groups. Their focus areas include synthetic lethality and immuno-oncology, targeting DNA damage repair mechanisms and the tumor microenvironment, respectively.
IDEAYA's pioneering approach leverages molecular diagnostics to identify and develop targeted therapeutics. The company's leading product candidate, IDE196, is a potent inhibitor of protein kinase C (PKC), aimed at treating cancers with GNAQ or GNA11 mutations. In addition, IDEAYA is advancing several clinical programs, such as the darovasertib program, which is currently in Phase 2 trials for uveal melanoma (UM) and has shown promising results in tumor shrinkage and eye preservation.
In synthetic lethality, IDEAYA's IDE397 targets methionine adenosyltransferase 2 alpha (MAT2A) in solid tumors with MTAP deletion, a condition prevalent in 15% of solid tumors. The IDE397 program includes both monotherapy and combination trials with other investigational drugs.
Financially, IDEAYA is robust with cash reserves exceeding $941.4 million as of Q1 2024, ensuring operational funding through 2028. Key investors include 5AM Ventures, Canaan Partners, and Celgene. The company has formed strategic collaborations with major pharmaceutical players like Pfizer, Amgen, Gilead Sciences, GSK, and Merck to amplify its research and clinical capabilities.
IDEAYA's scientific advisory board is composed of esteemed researchers, including a Nobel laureate and members of the National Academy of Sciences, underscoring the company's commitment to groundbreaking research.
Recent developments are promising: IDEAYA reported favorable Phase 2 trial results for IDE196 in UM, with significant tumor reduction and eye preservation rates. Additionally, a collaboration with Merck for the IDE161 program aims to tackle endometrial cancer using advanced immunotherapy combinations.
For more detailed updates and financial information, visit IDEAYA's Investor Relations page.
IDEAYA Biosciences (Nasdaq: IDYA) has announced a proposed public offering of up to $200 million in common stock and pre-funded warrants.
The company will also grant underwriters a 30-day option to purchase an additional $30 million in common stock.
The offering is subject to market conditions and other factors, with no assurance of completion or specific terms.
J.P. Morgan, Goldman Sachs, Jefferies, and RBC Capital Markets are acting as joint book-running managers.
This offering will be conducted under an automatically effective shelf registration statement filed with the SEC, and will be made available via a written prospectus and a prospectus supplement.
IDEAYA Biosciences announced positive interim Phase 2 monotherapy data for IDE397, a potential first-in-class MAT2A inhibitor, in MTAP-deletion urothelial and lung cancer patients. The study showed a 39% overall response rate (ORR) with 1 complete response (CR) and 6 partial responses (PRs). Disease control rate (DCR) was 94%, with 78% of patients exhibiting tumor shrinkage. Notably, 81% of patients experienced over 50% ctDNA reduction. The drug had a favorable safety profile with 5.6% grade 3 or higher adverse events and no serious adverse events. IDE397 is being evaluated for further clinical development in various cancers with MTAP deletions, addressing a significant unmet medical need.
IDEAYA Biosciences will host an investor webcast on July 8, 2024, at 8:00 a.m. EST to report clinical data from the Phase 2 trial of IDE397 monotherapy in MTAP-deletion urothelial and non-small cell lung cancer (NSCLC). IDE397 is a MAT2A inhibitor for MTAP-deletion solid tumors. The agenda includes discussing U.S. incidence rates, patient baseline characteristics, pharmacokinetics, adverse events, clinical efficacy, and molecular response analysis. The webcast will feature CEO Yujiro S. Hata, CMO Darrin Beaupre, and CSO Michael White. Access to the webcast and updated corporate presentation will be provided on the company's website.
IDEAYA Biosciences, a precision medicine oncology company, announced on June 28, 2024, the grant of non-qualified stock options to two newly hired employees. The options, totaling 92,000 shares, were granted under the 2023 Employment Inducement Incentive Award Plan as per Nasdaq Listing Rule 5635(c)(4).
The exercise price is set at $34.37 per share, matching the closing price of IDEAYA's stock on the grant date, June 27, 2024. The options have a 10-year term and will vest over four years, with 25% vesting on the first anniversary of the commencement date and the rest vesting monthly over the subsequent three years. Vesting is contingent on ongoing employment with IDEAYA.
IDEAYA Biosciences has initiated a Phase 1 clinical trial for IDE397, its MAT2A inhibitor, in combination with Gilead's Trodelvy (sacituzumab govitecan-hziy) for treating MTAP-deletion bladder cancer. IDE397 targets methionine adenosyltransferase 2 alpha (MAT2A), while Trodelvy is a Trop-2 directed antibody-drug conjugate. This trial will assess safety, tolerability, pharmacokinetics, pharmacodynamics, and efficacy. MTAP-deletion is present in approximately 26% of bladder cancer patients. IDEAYA and Gilead will retain commercial rights to their respective compounds, and the trial is part of an ongoing IDEAYA-sponsored study. A data update for the IDE397 Phase 2 monotherapy expansion is expected in late 2024.
IDEAYA Biosciences announced updates for its IDE397, a Phase 2 MAT2A inhibitor targeting MTAP-deletion solid tumors. A clinical data update is anticipated for H2 2024, covering over 15 evaluable MTAP lung and bladder cancer patients, including efficacy and molecular response analyses. The company is expanding IDE397 Phase 2 monotherapy to include bladder cancer, in addition to squamous lung cancer. Over 35 clinical trial sites have been activated globally for rapid enrollment. IDE397 is also involved in a Phase 1/2 trial with Amgen’s AMG 193 and preclinical combinations.
IDEAYA Biosciences announced promising Phase 2 results for darovasertib in treating neoadjuvant uveal melanoma (UM). The study, presented at the ASCO 2024 Annual Meeting, showed a 75% eye preservation rate and a median 47% tumor shrinkage in enucleation patients. Company-sponsored trials enrolled over 40 patients, with an observed median tumor shrinkage of 72% after 4 months and high eye preservation rates. IDEAYA plans a Type C FDA meeting in H2 2024 to discuss a registrational trial. Darovasertib demonstrated a manageable safety profile, with mostly low-grade adverse events. The global annual incidence of UM is estimated at 8,000-10,000 patients.
On May 31, 2024, IDEAYA Biosciences, a precision medicine oncology company, announced the granting of non-qualified stock options to purchase 49,000 shares of its common stock to two new employees. The grants were made under the 2023 Employment Inducement Incentive Award Plan as per Nasdaq Listing Rule 5635(c)(4). The stock options, priced at $35.79 per share, match the closing price on the grant date. They have a 10-year term and vest over four years, with 25% vesting after one year and the remainder vesting monthly over the next three years.
IDEAYA Biosciences, a precision medicine oncology company, announced its participation in two upcoming investor relations events in June 2024. The company will be represented by CEO Yujiro S. Hata at the Jefferies Global Healthcare Conference on June 5th, 2024, at 9:00 AM ET, and the Goldman Sachs 45th Annual Global Healthcare Conference on June 10th, 2024, at 8:00 AM ET. Both events will feature fireside chats hosted by equity research analysts. Live audio webcasts of these events will be available on the IDEAYA website, with replays accessible for 30 days after the events.
IDEAYA Biosciences (NASDAQ: IDYA) has appointed Daniel A. Simon as Chief Business Officer, effective August 2024. Simon brings over 18 years of experience from top life sciences and strategy consulting firms, including his tenure at Revolution Medicines, Guardant Health, Onyx Pharmaceuticals, and McKinsey & Company. IDEAYA's CEO Yujiro S. Hata expressed confidence in Simon's ability to enhance the company's corporate strategy and business development. Simon aims to support IDEAYA's mission to develop a diversified pipeline focused on unmet needs in cancer, targeting biomarker-defined cancers such as GNAQ/11, MTAP-deletion, HRD, and MSI-high solid tumors.
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