Ideaya Biosciences Said From Jan 4 To Jan 11, Sold 4.6M Shares For Net Proceeds Of $158.9M Under At-The-Market Offering Pursuant To June 2023 Agreement
Portfolio Pulse from Charles Gross
Ideaya Biosciences has sold 4.6 million shares between January 4 and January 11, resulting in net proceeds of $158.9 million. This sale was conducted under an at-the-market offering according to an agreement from June 2023.
January 12, 2024 | 11:16 am
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Ideaya Biosciences raised $158.9 million through the sale of 4.6 million shares via an at-the-market offering.
The sale of shares has increased Ideaya Biosciences' cash reserves, which could be used for further research and development, or operational expenses. This is generally a positive development, but the increase in share count could dilute existing shareholders' equity, potentially offsetting the positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100