IDEAYA Q2 net loss $52.8M; darovasertib neoadjuvant UM shows tumor shrinkage; IDE397 39% ORR in MTAP-deletion tumors

IDEAYA Biosciences, Inc.

2024-Q2 EPS reported -$1.21

Q2 net loss $52.8M vs $39.6M in Q1; R&D expenses $54.5M, up from $42.8M.
Cash $952.7M at June 30; July public offering netted $283.8M, extending runway into at least 2028.
Darovasertib in neoadjuvant UM: Phase 2 enrolled >50 patients; median tumor shrinkage ~72% volume; FDA Type C meeting in Q3.
IDE397 in MTAP-deletion tumors: 39% ORR (1 CR, 6 PR), 94% DCR in 18 evaluable patients; selected 30 mg expansion dose.
Entered option/license agreement with Biocytogen for B7H3/PTK7 BsADC; DC nomination targeted H2 2024; potential milestones $406.5M.

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