Overview

* IDEAYA reports Q2 net loss of $77.5 mln, vs $72.2 mln year-ago, driven by higher R&D expenses

* Co has ~$992 mln cash, expected to fund operations into 2029

* Phase 2/3 trial for darovasertib on track for median PFS data by year-end

Outlook

* IDEAYA expects median PFS data for darovasertib by year-end 2025

* Company plans three IND submissions by year-end 2025

* IDEAYA anticipates cash to fund operations into 2029

Result Drivers

* CLINICAL TRIAL EXPANSION - Increased R&D expenses driven by expansion of clinical trials, including darovasertib and crizotinib combination in metastatic uveal melanoma

* ORGANIZATIONAL GROWTH - Higher G&A expenses attributed to scaling efforts for potential U.S. launch of darovasertib

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.88

Q2 Net -$77.49

Income mln

Q2 $88.81

Operatin mln

g

Expenses

Q2 -$88.81

Profit mln

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for IDEAYA Biosciences Inc ( IDYA ) is $47.00, about 46.8% above its August 4 closing price of $25.00

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)