IDEAYA Biosciences(IDYA) - 2025 Q3 - Quarterly Results

Financial Performance - IDEAYA reported collaboration revenue of $207.8 million for Q3 2025, compared to zero in Q2 2025, primarily due to the Servier license agreement[13] - The net income for Q3 2025 was $119.2 million, a significant improvement from a net loss of $77.5 million in Q2 2025[16] - Collaboration revenue for the three months ended September 30, 2025, was $207.834 million, with total revenue matching this figure[23] - Net income for the three months ended September 30, 2025, was $119.244 million, compared to a net loss of $77.491 million in the previous quarter[23] - Comprehensive income for the three months ended September 30, 2025, was $119.775 million, contrasting with a comprehensive loss of $77.555 million in the previous quarter[23] - The company reported a net income per share attributable to common stockholders of $1.35 for the three months ended September 30, 2025[23] Cash and Assets - As of September 30, 2025, IDEAYA had approximately $1.14 billion in cash, cash equivalents, and marketable securities, up from $991.9 million as of June 30, 2025[12] - Cash and cash equivalents, along with marketable securities, totaled $1.136 billion as of September 30, 2025, up from $1.082 billion at the end of 2024[25] - Total assets increased to $1.185 billion as of September 30, 2025, compared to $1.124 billion at the end of 2024[25] - Total liabilities rose to $93.102 million as of September 30, 2025, from $64.944 million at the end of 2024[25] Expenses - Research and development expenses for Q3 2025 totaled $83.0 million, an increase from $74.2 million in Q2 2025, driven by higher clinical trial costs[14] - General and administrative expenses for Q3 2025 were $16.4 million, up from $14.6 million in Q2 2025, mainly due to increased legal and commercial preparation expenses[15] - Research and development expenses for the same period were $82.993 million, an increase from $74.226 million in the previous quarter[23] Clinical Development - IDEAYA completed its third IND filing in 2025, further extending its leadership in precision medicine oncology[3] - The Phase 2/3 trial of darovasertib/crizotinib in metastatic uveal melanoma is on track to report median progression-free survival data by year-end 2025 to Q1 2026[5] - The company reported a median overall survival of 21.1 months and a median progression-free survival of 7.0 months in the Phase 2 trial of darovasertib[6] - IDEAYA plans to initiate a global Phase 3 trial of darovasertib and crizotinib as an adjuvant therapy for primary uveal melanoma in the first half of 2026[8] Licensing and Collaboration - IDEAYA entered into an exclusive license agreement with Servier for darovasertib outside the U.S., receiving an upfront payment of $210 million and potential milestone payments of up to $320 million[11] Risks and Uncertainties - IDEAYA's forward-looking statements highlight potential risks and uncertainties in drug development and regulatory processes[19]