Business
IDEAYA Biosciences, Inc. Reports First Quarter 2022 Financial Results and Provides Business Update
Strong balance sheet of ~$346 million cash, cash equivalents and marketable securities as of March 31, 2022 is anticipated to fund planned operations into
About this update from Ideaya Biosciences, Inc.
[{"type":"text","content":"Strong balance sheet of ~$346 million cash, cash equivalents and marketable securities as of March 31, 2022 is anticipated to fund planned operations into 2025Targeting initiation of IDE397 Phase 1/2 monotherapy expansion and Phase 1 combination cohorts, and delivery of GSK option data package mid-year 2022Darovasertib and crizotinib Phase 1/2 clinical combination data update and regulatory guidance on potential registration-enabling trial anticipated mid-year 2022On-track to submit an IND in Q4 2022 for IDE161, a PARG development candidate, and to nominate a Pol Theta development candidate in Q2 2022SOUTH SAN FRANCISCO, Calif., May 10, 2022 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq:IDYA), a synthetic lethality focused precision medicine oncology company committed to the discovery and development of targeted therapeutics, provided a business update and announced financial results for the first quarter ended March 31, 2022.\n\n \n \n \n \n \n \n\n \n\"The IDE397 Phase 1 dose escalation clinical data supports advancing the program to monotherapy expansions and clinical combinations in patients with MTAP deletion tumors. In addition, the darovasertib Phase 2 data is maturing to enable FDA discussions on potential registrational trial design in MUM, and we are preclinically exploring potential darovasertib expansion opportunities in additional cMET driven tumors,\" said Yujiro S. Hata, Chief Executive Officer and President of IDEAYA Biosciences. \n\"We are building a broad and deep pipeline of potential first-in-class synthetic lethality therapeutics. Several of our synthetic lethality programs are advancing toward the clinic, including our PARG inhibitor, IDE161, for which we are targeting an IND in Q4 2022, and our potential first-in-class Pol Theta helicase inhibitor, for which we are collaborating with GSK to select a development candidate in Q2 2022. Our potential first in class Werner helicase inhibitor is also progressing in collaboration with GSK; we are targeting development candidate selection in 2023,\" said Michael White, Senior Vice President and Chief Scientific Officer of IDEAYA Biosciences.\nProgram UpdatesKey highlights for IDEAYA's pipeline programs include:\nIDE397 (MAT2A)IDEAYA is evaluating IDE397, a potent and selective small molecule inhibitor targeting methionine adenosyltransferase 2a (MAT2A), in pati...