IDEAYA Biosciences Says Balance Sheet Of $511.1M Of Cash, Cash Equivalents And Marketable Securities As Of September 30, 2023, And $134.7M Est. Net Proceeds From Follow-On Financing And $10M Receivable From GSK, Is Anticipated To Fund Operations Into 2028
Portfolio Pulse from Benzinga Newsdesk
IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reported a strong balance sheet with $511.1M in cash and securities as of September 30, 2023. The company expects the funds, including $134.7M from follow-on financing and $10M receivable from GSK, to support operations into 2028. IDEAYA announced updates at the J.P. Morgan Healthcare Conference, including international patient enrollment in a Phase 2/3 trial for darovasertib and crizotinib, and various clinical program updates for 2024. The company is also advancing collaborations with GSK and targeting IND submissions and new development candidate nominations in 2024.
January 07, 2024 | 8:15 pm
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IDEAYA Biosciences has a strong financial position with sufficient funds to last until 2028, and is progressing with significant clinical trials and collaborations.
The company's strong financial position and anticipated funding into 2028, along with the progress in clinical trials and strategic collaborations, are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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