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Mar 31, 2024
IDEAYA Q1 2024 Earnings Report
IDEAYA Biosciences reported financial results for the first quarter ended March 31, 2024 and provided a business update.
Key Takeaways
IDEAYA Biosciences reported a net loss of $39.6 million for the first quarter ended March 31, 2024. As of March 31, 2024, IDEAYA had cash, cash equivalents and marketable securities totaling $941.4 million.
ASCO 2024 oral presentation of darovasertib neoadjuvant UM Phase 2 investigator-sponsored trial on June 3rd, and targeting neoadjuvant UM update in over 30 patients from Phase 2 company-sponsored trial and regulatory guidance both in H2 2024
Selected move-forward Phase 2 dose for IDE397 in MTAP squamous NSCLC, based on clinical efficacy observed in this indication, including multiple PRs by RECIST 1.1; and multiple PRs by RECIST 1.1 have also been observed in MTAP bladder cancer
Enrollment is ongoing in the IDE397 and AMG 193 Phase 1 dose escalation and targeting development of joint Amgen / IDEAYA publication strategy in 2024
First-patient-in (FPI) for Phase 1 trial of IDE397 in combination with Gilead’s Trodelvy® in MTAP bladder cancer targeted mid-year 2024
Forward Guidance
IDEAYA is targeting several milestones in the second half of 2024, across its clinical programs and next-generation pipeline.
Positive Outlook
- Targeting neoadjuvant UM update in over 30 patients from Phase 2 company-sponsored trial and regulatory guidance both in H2 2024
- Targeting initial Phase 2 expansion for IDE161 in HRD solid tumors in H2 2024
- Targeting Phase 1 FPI for IDE161 in combination with Merck’s anti-PD-1 therapy KEYTRUDA® in endometrial cancer in H2 2024
- Targeting Werner IND-filing with GSK in H2 2024, representing 5th potential first-in-class clinical program
- Targeting MTAP development candidate in H2 2024 to enable wholly-owned IDE397 combination
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