IDEAYA Biosciences

IDEAYA Biosciences granted 62,800 shares of common stock to two new employees on Oct. 31, 2024, under the 2023 Inducement Plan, with an exercise price of $28.15 per share, vesting over four years.

Amgen reports Q3 2024 financial results: total revenues up 23% to $8.5 billion, GAAP EPS increased 62% to $5.22, non-GAAP EPS up 13% to $5.58, driven by strong product sales and pipeline investments.

IDE397, a MAT2A inhibitor, demonstrated antitumor activity and a manageable safety profile in MTAP-deletion urothelial cancer and NSCLC patients, with 33% achieving a confirmed overall response at the 30 mg RP2D. The study also showed a 93% disease control rate and 81% ctDNA molecular response rate, supporting further combination therapy development.

IDEAYA Biosciences announces FDA clearance for IDE275 (GSK959), a potential first-in-class WRN inhibitor for MSI-High solid tumors, with a Phase 1 trial projected in Q4 2024. IDEAYA to receive $7 million upon IND acceptance and up to $950 million in potential milestones, sharing 50% US profit and 20% global R&D costs with GSK.

Ideaya Biosciences presents phase 1 expansion data for IDE397, a potential first-in-class MAT2A inhibitor, in MTAP-deletion urothelial cancer and non-small cell lung cancer at ENA 2024, showing clinical efficacy and a manageable safety profile. The company plans to advance IDE397 as a monotherapy and in combinations, including with Trodelvy in urothelial cancer and AMG 193 in NSCLC.

Tim Chiang assigns Buy rating to IDEAYA Biosciences (IDYA) with $50.00 target, based on promising IDE397 Phase 1 data in MTAP-deletion lung/bladder cancers and strong financial position. LifeSci Capital also maintains Buy rating with $65.00 target.

IDEAYA Biosciences to present Phase 1 expansion results of IDE397, a MAT2A inhibitor, at EORTC-NCI-AACR Symposium in Barcelona, focusing on MTAP-deletion urothelial and NSCLC. The company also showcases preclinical data for MAT2A and PARG programs. IDEAYA's financial metrics indicate a market cap of $2.47B, strong liquidity, but negative P/E ratio and revenue decline, reflecting a transitional phase.