IDEAYA Biosciences announces board change and new advisory role

SOUTH SAN FRANCISCO, CA – IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a biotechnology firm specializing in pharmaceutical preparations with a market capitalization of $1.4 billion, disclosed a forthcoming change to its Board of Directors. Dr. Susan L. Kelley has decided not to seek re-election at the company’s 2025 annual meeting of stockholders. According to InvestingPro data, the company maintains a strong liquidity position with cash reserves exceeding its debt obligations.

The announcement, made on March 28, 2025, indicated that Dr. Kelley will resign from her position on the Board following the conclusion of her current term, which will end immediately after the Annual Meeting. However, she is set to continue her association with the company in a new capacity. Dr. Kelley has agreed to serve as Chair of IDEAYA’s newly formed Clinical Advisory Board, which is expected to be established before the Annual Meeting. This transition comes as the company’s stock has experienced significant volatility, with shares down over 53% in the past six months.

IDEAYA also plans to reduce the size of its Board from eight to seven directors upon the completion of the Annual Meeting. The company stated that Dr. Kelley’s decision to step down is not due to any disagreement with the company’s operations, policies, or practices.

This transition is part of the company’s ongoing governance and advisory efforts, as it continues to advance its research and development in the pharmaceutical space. Dr. Kelley’s expertise will presumably contribute to the company’s strategic direction through her advisory role, while the board reduction aligns with IDEAYA’s corporate governance practices.

The information provided in this article is based on a press release statement filed with the SEC.

In other recent news, IDEAYA Biosciences has appointed Joshua Bleharski, Ph.D., as its new Chief Financial Officer, effective early May 2025. Dr. Bleharski brings nearly two decades of experience from J.P. Morgan, where he served as Managing Director and Global Co-Head of Biopharma in the Healthcare Investment Banking group. This appointment is part of IDEAYA’s strategic efforts to strengthen its leadership team as the company looks forward to significant developments in its pipeline. BTIG analysts have maintained their Buy rating on Ideaya Biosciences, citing anticipated pipeline updates in 2025 as a key reason for their positive outlook. The company is expected to release updates from its Phase 2 neoadjuvant study of darovasertib, including clinical and safety data. IDEAYA will also share findings from the IDE397 + Trodelvy study in MTAP deleted Urothelial Cancer and Phase 1 data for Werner Helicase inhibitor IDE275. These updates are anticipated to provide new insights into the efficacy and safety of IDEAYA’s treatments. BTIG’s continued confidence in IDEAYA is reflected in their $62.00 price target, highlighting the potential impact of upcoming data on the company’s valuation.

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