Hengrui to present phase 1 data on DLL3-targeting lung cancer drug

Published 22/07/2025, 18:06
Hengrui to present phase 1 data on DLL3-targeting lung cancer drug

JIANGSU, China - IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a $1.9 billion market cap biotech company with a robust balance sheet showing more cash than debt, and Jiangsu Hengrui Pharmaceuticals announced Tuesday that clinical data for their investigational drug IDE849 will be presented at the upcoming World Conference on Lung Cancer in September. According to InvestingPro analysis, IDEAYA maintains strong liquidity with a current ratio of 13.9x, positioning it well for continued research and development efforts.

The presentation will include efficacy and safety results from over 70 small-cell lung cancer (SCLC) patients enrolled in Hengrui’s ongoing Phase 1 trial in China. IDE849, also known as SHR-4849, is described as a potential first-in-class antibody-drug conjugate targeting delta-like ligand 3 (DLL3) with a Topoisomerase-1 payload. With analysts projecting sales growth for IDEAYA in the current year, this presentation could be a significant catalyst. Discover more detailed analysis and 6 additional key insights about IDEAYA in the comprehensive Pro Research Report, available exclusively on InvestingPro.

The companies noted that a U.S. Phase 1 trial of IDE849 in SCLC patients was initiated in the third quarter of 2025. DLL3 is expressed in several tumor types including SCLC, neuroendocrine tumors, non-small cell lung cancer, and melanoma. Investors should note that IDEAYA’s next earnings report is scheduled for August 12, 2025, which could provide additional updates on the trial’s progress.

IDEAYA will also present a poster showing preclinical data on combining Topoisomerase-1 payload-based antibody-drug conjugates with IDE161, the company’s PARG inhibitor.

"We are excited to have the first-in-human Phase 1 clinical efficacy and safety data presented by our partner Hengrui for IDE849 in SCLC patients," said Dr. Darrin Beaupre, Chief Medical Officer at IDEAYA Biosciences, in the press release.

The oral presentation is scheduled for September 7 at the conference in Barcelona, Spain. The information in this article is based on a press release statement from the companies.

In other recent news, Ideaya Biosciences has been the subject of several analyst assessments and corporate developments. RBC Capital has adjusted its price target for Ideaya Biosciences, lowering it from $57.00 to $30.00, while maintaining an Outperform rating. This decision followed a detailed review of the company’s clinical pipeline and potential future catalysts. Wells Fargo initiated coverage with an overweight rating, setting a price target of $44.00, highlighting potential opportunities for the drug candidate darovasertib. Meanwhile, TD Cowen began coverage with a Buy rating, emphasizing the company’s robust pipeline of clinical-stage programs. In contrast, Goldman Sachs resumed coverage with a Neutral rating and a price target of $25.00, based on a discounted cash flow analysis. Additionally, at Ideaya’s 2025 Annual Meeting of Stockholders, shareholders elected Jeffrey L. Stein, Ph.D., and Scott W. Morrison as Class III directors. These developments reflect the ongoing interest and varying perspectives from investment firms regarding Ideaya Biosciences.

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