Loading...
•
Dec 31, 2023
IDEAYA Q4 2023 Earnings Report
IDEAYA Biosciences reported financial results for Q4 and full year 2023 and provided a business update.
Key Takeaways
IDEAYA Biosciences reported a net loss of $34.0 million for the fourth quarter of 2023, compared to a net loss of $24.2 million for the same period in 2022. The company's cash, cash equivalents, and marketable securities totaled $632.6 million as of December 31, 2023, which, supplemented by net proceeds from January 2024 ATM offerings, is expected to fund operations into 2028.
Targeting two independent Phase 2 clinical efficacy updates for darovasertib in neoadjuvant uveal melanoma (UM) in mid-2024.
Targeting FDA regulatory guidance on darovasertib in neoadjuvant UM indication in 2024.
Established clinical study collaboration with Gilead Sciences to evaluate IDE397 and Trodelvy® combo in MTAP bladder cancer with FPI targeted for mid-year 2024.
Cash balance of $632.6 million as of December 31, 2023, supplemented by net proceeds of $342.3 million from January 2024 ATM offerings, expected to fund operations into 2028.
Forward Guidance
IDEAYA is focused on advancing its clinical programs and achieving key milestones in 2024, including clinical efficacy updates, regulatory guidance, and IND filings, while also expanding its pipeline of precision medicine candidates.
Positive Outlook
- Targeting two independent Phase 2 clinical efficacy updates for darovasertib in neoadjuvant uveal melanoma (UM) in mid-2024.
- Targeting FDA regulatory guidance on darovasertib in neoadjuvant UM indication in 2024.
- Ongoing enrollment of IDE397 and AMG 193 Phase 1 combo in MTAP solid tumors and targeting development of joint Amgen / IDEAYA publication strategy in 2024.
- Established clinical study collaboration with Gilead Sciences to evaluate IDE397 and Trodelvy® combo in MTAP bladder cancer with FPI targeted for mid-year 2024.
- Targeting IDE161 clinical program update(s) and enabling of clinical combination(s) in 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...