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IDEAYA Biosciences(IDYA) - 2024 Q4 - Annual Results
IDYAIDEAYA Biosciences(IDYA)2025-02-13 11:05

Financial Performance - As of December 31, 2024, IDEAYA had approximately 1.1billionincash,cashequivalents,andmarketablesecurities,upfrom1.1 billion in cash, cash equivalents, and marketable securities, up from 632.6 million as of December 31, 2023, primarily due to 379.9millioninnetproceedsfromcommonstocksales[11].−ThenetlossforQ42024was379.9 million in net proceeds from common stock sales[11]. - The net loss for Q4 2024 was 130.3 million, compared to a net loss of 34.0millioninQ42023,withtotalstockcompensationexpenserisingto34.0 million in Q4 2023, with total stock compensation expense rising to 9.5 million from 4.8million[16].−Forthefullyear2024,thenetlosswas4.8 million[16]. - For the full year 2024, the net loss was 274.5 million, compared to 113.0millionin2023,withtotalstockcompensationexpenseincreasingto113.0 million in 2023, with total stock compensation expense increasing to 34.7 million from 18.5million[17].−TotaloperatingexpensesforQ42024were18.5 million[17]. - Total operating expenses for Q4 2024 were 151,138,000, up from 45,838,000inQ42023,indicatingasignificantincreaseofapproximately229.545,838,000 in Q4 2023, indicating a significant increase of approximately 229.5%[23]. - Net loss for Q4 2024 was 130,312,000, compared to a net loss of 33,955,000inQ42023,reflectinganincreaseinlossesofapproximately284.533,955,000 in Q4 2023, reflecting an increase in losses of approximately 284.5%[23]. - The comprehensive loss for Q4 2024 was 133,336,000, compared to 32,643,000inQ42023,representinganincreaseofapproximately30832,643,000 in Q4 2023, representing an increase of approximately 308%[23]. - Total assets increased to 1,124,091,000 in 2024 from 649,316,000in2023,representingagrowthofapproximately73649,316,000 in 2023, representing a growth of approximately 73%[25]. Revenue and Collaboration - Collaboration revenue for Q4 2024 totaled 7.0 million, compared to 3.9millioninQ42023,drivenbya3.9 million in Q4 2023, driven by a 7.0 million milestone payment from GSK for IND clearance of IDE275[13]. - Collaboration revenue for Q4 2024 was 7,000,000,comparedto7,000,000, compared to 3,923,000 in Q4 2023, representing an increase of approximately 78.5%[23]. Research and Development - Research and development expenses for Q4 2024 were 140.2million,significantlyhigherthan140.2 million, significantly higher than 38.8 million in Q4 2023, mainly due to a 75.0millionupfrontpaymentforIDE849andincreasedclinicaltrialcosts[14].−ResearchanddevelopmentexpensesfortheyearendedDecember31,2024,were75.0 million upfront payment for IDE849 and increased clinical trial costs[14]. - Research and development expenses for the year ended December 31, 2024, were 294,673,000, compared to 129,508,000in2023,markinganincreaseofapproximately128129,508,000 in 2023, marking an increase of approximately 128%[23]. - General and administrative expenses for the year ended December 31, 2024, were 39,302,000, up from $28,306,000 in 2023, indicating an increase of approximately 39%[23]. - Over 230 patients have been enrolled in the potential registration-enabling trial for 1L HLA-A2-negative MUM, with a median PFS readout targeted by year-end 2025[4]. - IDEAYA plans to initiate a Phase 3 registration-enabling trial for darovasertib in neoadjuvant UM in the first half of 2025, with 95 patients already enrolled[6]. - The company is targeting clinical data updates for IDE397 in combination with Trodelvy in MTAP-deletion UC in 2025, following encouraging Phase 1 results presented at ENA 2024[7]. - IDEAYA aims to submit a U.S. IND for IDE849 as a monotherapy in SCLC in the first half of 2025, with preliminary results showing an overall response rate of approximately 73% in a Phase 1 trial[7]. - The company anticipates filing INDs for three new candidates: IDE892 (PRMT5) in mid-2025, IDE034 (B7H3/PTK7 ADC) in the second half of 2025, and IDE251 (KAT6/7) also in the second half of 2025[9]. Shareholder Information - The weighted-average number of shares outstanding increased to 87,340,758 in Q4 2024 from 65,246,361 in Q4 2023, reflecting an increase of approximately 33.9%[23]. Future Outlook - IDEAYA is focused on advancing its clinical programs and expects to provide updates on regulatory milestones and trial data in the near future[20].