## IDEAYA Biosciences Reports Strong Q3 2024 Results, Advancing Multiple Precision Oncology Programs
IDEAYA Biosciences, a leading precision medicine oncology company focused on developing targeted therapies, has announced impressive financial results for the third quarter of 2024. The company’s commitment to innovation is evident in its substantial progress across its robust pipeline, marked by key achievements and promising clinical data.
Darovasertib Shows Promise in Uveal Melanoma
IDEAYA’s darovasertib program continues to demonstrate significant potential in treating uveal melanoma (UM), a rare and aggressive eye cancer. The company exceeded its enrollment targets for the first-line metastatic uveal melanoma (MUM) potential registration-enabling trial, surpassing 150 patients. Additionally, the company conducted a successful Type C meeting with the FDA, laying the groundwork for a potential registration-enabling trial in the neoadjuvant UM setting. The company is aiming to initiate this trial in the first half of 2025.
IDE397: A Novel Target for MTAP-Deletion Solid Tumors
IDEAYA’s IDE397, a potent and selective inhibitor of methionine adenosyltransferase 2 alpha (MAT2A), continues to demonstrate impressive results in patients with MTAP-deleted solid tumors. Phase 1 expansion results presented at the 36th EORTC-NCI-AACR Symposium (ENA 2024) showcased encouraging clinical activity in heavily pre-treated MTAP-deletion urothelial cancer (UC) and non-small cell lung cancer (NSCLC) patients. The confirmed overall response rate (ORR) by RECIST 1.1 was 40% in UC, 38% in squamous NSCLC, and 22% in adenocarcinoma NSCLC. This data further supports IDE397’s potential as a valuable treatment option for this specific patient population.
IDEAYA is strategically advancing its IDE397 program with a combination strategy. The company is targeting expansion of the Phase 1/2 study of IDE397 in combination with Trodelvy® (sacituzumab govitecan-hziy), Gilead’s Trop-2 directed antibody-drug conjugate, in MTAP-deletion UC in Q4 2024. The PR reported at ENA 2024 has been confirmed by RECIST 1.1. IDEAYA is also expanding the IDE397 and AMG 193 combination study in MTAP-deletion solid tumors, with a focus on MTAP-deletion NSCLC in late 2024 to early 2025.
IDE161: A PARG Inhibitor with Potential in HRD Tumors
IDE161, IDEAYA’s potential first-in-class poly(ADP-ribose) glycohydrolase (PARG) inhibitor, continues to demonstrate promise in the treatment of tumors with homologous recombination deficiency (HRD). The company is targeting Phase 1/2 monotherapy expansion for IDE161 in priority solid tumor types in Q4 2024. Additionally, IDEAYA is targeting the first patient enrollment for the Phase 1 trial evaluating IDE161 in combination with Merck’s anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), in MSI-High and MSS endometrial cancer (EC) by the end of the year. Preclinical data presented at ENA 2024 showcased the rationale for combining IDE161 with antibody-drug conjugates (ADCs).
Strong Financial Position
IDEAYA’s strong financial position is a testament to the company’s success in attracting investment. The company raised gross proceeds of approximately $302.4 million in July 2024 through a public offering, bolstering its cash reserves and allowing the company to pursue its ambitious development plans. As of September 30, 2024, IDEAYA had cash, cash equivalents, and marketable securities totaling $1.2 billion, providing ample runway for operations into at least 2028.
Looking Ahead: A Bright Future for IDEAYA
IDEAYA is well-positioned to continue its impressive progress in the development of precision medicine oncology therapies. The company’s strategic focus on key therapeutic areas like uveal melanoma and MTAP-deletion solid tumors, combined with its strong financial position, positions IDEAYA for continued growth and success in the future. With its pipeline of potential first-in-class therapies, IDEAYA is poised to make a significant impact on the lives of patients with cancer.
About IDEAYA Biosciences
IDEAYA Biosciences is a precision medicine oncology company committed to discovering and developing targeted therapies for patient populations selected using molecular diagnostics. IDEAYA integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. The company is actively applying its research and drug discovery capabilities to synthetic lethality, an emerging class of precision medicine targets.
