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SOUTH SAN FRANCISCO - IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a $2.07 billion market cap biotechnology company with a "FAIR" financial health rating according to InvestingPro, announced Thursday that results from its multi-site global Phase 2 study of neoadjuvant darovasertib in primary uveal melanoma will be featured as a Proffered Paper oral presentation at the 2025 European Society of Medical Oncology (ESMO) meeting in Berlin this October.
The presentation will include data from over 90 patients across both plaque brachytherapy and enucleation-eligible cohorts. Dr. Marcus Butler from Princess Margaret Cancer Center at the University of Toronto will deliver the presentation titled "Enucleation prevention and vision preservation in primary uveal melanoma (UM): preliminary results from a phase 2 study of neoadjuvant darovasertib." The company’s strong liquidity position, with a current ratio of 13.92 and more cash than debt on its balance sheet, positions it well to advance its clinical programs.
Darovasertib has received U.S. FDA Breakthrough Therapy Designation for use in neoadjuvant uveal melanoma for subjects requiring enucleation. The company recently initiated a multi-site, global randomized Phase 3 neoadjuvant registrational trial in primary uveal melanoma (OptimUM-10) in the third quarter of 2025.
"We are excited to share clinical data at ESMO 2025 on the effects of neoadjuvant darovasertib in primary uveal melanoma across both plaque brachytherapy and enucleation cohorts," said Dr. Darrin Beaupre, Chief Medical Officer at IDEAYA Biosciences, in the press release statement.
IDEAYA Biosciences is focused on developing targeted therapies for cancer, with a pipeline that includes synthetic lethality and antibody-drug conjugates, including bispecifics.
The ESMO meeting is scheduled to take place October 17-21, 2025, in Berlin, Germany.
In other recent news, Ideaya Biosciences and Jiangsu Hengrui Pharmaceuticals announced that clinical data for their investigational drug IDE849 will be presented at the World Conference on Lung Cancer. The presentation will showcase efficacy and safety results from over 70 small-cell lung cancer patients involved in Hengrui’s Phase 1 trial in China. TD Cowen initiated coverage on Ideaya Biosciences with a Buy rating, highlighting the company’s robust pipeline of clinical-stage programs. Goldman Sachs resumed coverage with a Neutral rating and set a price target of $25.00, based on a discounted cash flow analysis. RBC Capital lowered its price target to $30.00 while maintaining an Outperform rating, following additional diligence and discussions regarding the company’s clinical pipeline. Wells Fargo initiated coverage with an overweight rating and a price target of $44.00, citing unreflected opportunities for the drug candidate darovasertib. These developments provide investors with insights into Ideaya Biosciences’ ongoing projects and market assessments.
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