Business
IDEAYA Biosciences, Inc. Reports First Quarter 2023 Financial Results and Provides Business Update
Strong balance sheet of $351.2 million of cash, cash equivalents and marketable securities as of March 31, 2023 supplemented by $188.7 million estimated net
About this update from Ideaya Biosciences, Inc.
[{"type":"text","content":"Strong balance sheet of $351.2 million of cash, cash equivalents and marketable securities as of March 31, 2023 supplemented by $188.7 million estimated net proceeds from closing of underwritten public offering on April 27, 2023, anticipated to fund operations into 2027Initiating Phase 2/3 registrational trial in Q2 2023 of darovasertib and crizotinib combination in First-Line HLA-A2 negative MUM, with median PFS as primary endpoint for potential accelerated approvalReported compelling darovasertib program Phase 2 clinical efficacy, including in First-Line and Any-Line MUM, and additional clinical efficacy as neoadjuvant therapy in primary UMTargeting darovasertib clinical program updates in H2 2023IDE397 Phase 2 monotherapy expansion international site activation ongoing, including in Europe and Asia, to enhance patient enrollment in high priority MTAP-deletion tumorsCompelling preclinical efficacy data (AACR 2023) supports anticipated clinical evaluation of IDE397 (MAT2A) and AMG 193 (PRMT5) combination targeting MTAP-deletion tumorsEnrolled first cohort and accruing waitlist in Phase 1 trial evaluating IDE161 in patients having solid tumors with HRD, with planned strategic focus in ER+, Her2- breast cancerAnticipating IND submission for Pol Theta Helicase DC in Q2 2023 (potential $7 million milestone from GSK upon IND-effectiveness) and selection of Werner Helicase DC in 2023 (potential $3 million milestone from GSK in connection with IND-enabling studies)SOUTH SAN FRANCISCO, Calif., May 9, 2023 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq:IDYA), a 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, 2023.\n\n \n \n \n \n \n \n\n \n\"This has been a transformational quarter for IDEAYA, with our lead clinical candidate, darovasertib, on-track to initiate a potential accelerated approval trial in first-line MUM this quarter, IDE397 in Phase 2 with ongoing international site activation to accelerate monotherapy expansion and compelling preclinical combination efficacy presented at AACR with Amgen's AMG 193 for treating MTAP-deletion solid tumors, and IDE161 first cohort enrolled in HRD solid tumors. Our preclinical pipeline and platform also continue to deliver potential first-i...