Business
IDEAYA Biosciences, Inc. Reports Third Quarter 2021 Financial Results and Provides Business Update
- Strong balance sheet of ~$386 million cash, cash equivalents and marketable securities is anticipated to fund planned operations into 2025 - Observed IDE397
About this update from Ideaya Biosciences, Inc.
[{"type":"text","content":"- Strong balance sheet of ~$386 million cash, cash equivalents and marketable securities is anticipated to fund planned operations into 2025\n - Observed IDE397 preliminary clinical activity in early Phase 1 dose escalation cohorts, including pharmacodynamic modulation and tumor shrinkage\n - Enrolling IDE397 Cohort 5 with no observed drug-related serious adverse events and the maximum tolerated dose has not yet been reached\n - Targeting IDE397 cohort expansions and delivery of GSK option data package in first half of 2022 to trigger a review period for potential $50 million opt-in decision\n - Targeting webcast in Q4 2021 to present darovasertib and crizotinib clinical combination data, including clinical efficacy and tolerability\n - Selected a potential development candidate PARG inhibitor; planning to initiate further preclinical development studies, including IND-enabling studies\n - Targeting development candidate for Pol Theta Helicase program in December 2021; $20 million in aggregate potential GSK milestone payments from preclinical to early Phase 1\n\n\nSOUTH SAN FRANCISCO, Calif., Nov. 15, 2021 /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 third quarter ended September 30, 2021.\n\"Early clinical data on our potential best-in-class Phase 1 MAT2A inhibitor, IDE397, in MTAP-deletion patients shows preliminary signals of clinical activity, including pharmacodynamic modulation and tumor shrinkage in multiple patients. In addition, we selected a lead compound as a potential first-in-class development candidate for IND-enabling studies for our PARG synthetic lethality program and made progress towards our goal to select a potential first-in-class development candidate with GlaxoSmithKline for the Pol Theta Helicase program this year. We are targeting to provide an update in the fourth quarter of 2021 for the Phase 2 clinical trial evaluating darovasertib and crizotinib combination in metastatic uveal melanoma, including clinical efficacy and guidance on timing for a potential registration enabling trial,\" said Yujiro S. Hata, Chief Executive Officer and President of IDEAYA Biosciences.\nProgram UpdatesKey highlig...