IDEAYA Biosciences appoints new CFO

Today, IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a $2 billion market cap company specializing in pharmaceutical preparations, announced the appointment of Joshua Bleharski, Ph.D., as its new Chief Financial Officer, effective early May 2025.

According to InvestingPro analysis, the stock is currently trading near its 52-week low of $22.10, following a challenging period that saw a nearly 50% decline over the past year. Dr. Bleharski will join the company’s executive team after nearly two decades at J.P. Morgan, where he served as Managing Director and Global Co-Head of Biopharma in the Healthcare Investment Banking group.

Dr. Bleharski, 50, has a background in both science and business, with a B.S. in Biology from Duke University, a Ph.D. in Immunology from the University of California, Los Angeles, and an M.B.A. from the Haas School of Business at the University of California, Berkeley. Before his tenure at J.P. Morgan, he was a Senior Staff Scientist at a private biotech firm in San Diego and held post-doctoral fellowships at the La Jolla Institute for Allergy and Immunology and the UCLA School of Medicine.

The Board of Directors of IDEAYA Biosciences, headquartered in South San Francisco, CA, expects to finalize and disclose the terms of Dr. Bleharski’s compensation package at a later date. InvestingPro data shows the company maintains a strong financial position with more cash than debt and a healthy current ratio of 22.9x, indicating robust liquidity to support its operations. The company has clarified that there is no arrangement or understanding between Dr. Bleharski and any other person regarding his selection as an officer. Furthermore, there are no familial ties or transactional interests involving Dr. Bleharski that would necessitate disclosure under SEC regulations.

IDEAYA Biosciences, traded on the Nasdaq Global Select Market under the ticker IDYA, is incorporated in Delaware and operates under the leadership of President and CEO Yujiro Hata. While analysts maintain a strong buy consensus with a high price target of $65, InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report, providing deeper analysis of the company’s financial health and growth prospects. This announcement is based on a press release statement and adheres to the regulatory requirements of a Form 8-K filing with the Securities and Exchange Commission, dated February 10, 2025.

In other recent news, Ideaya Biosciences has been the subject of several important updates. BTIG analysts have maintained their Buy rating on Ideaya, with a price target of $62, citing anticipated pipeline updates in 2025. They expect significant updates from the company’s ongoing studies, including the Phase 2 studies of darovasertib and the IDE397 + Trodelvy study in Urothelial Cancer.

In addition, Ideaya recently announced an exclusive licensing agreement with Jiangsu Hengrui Pharma for the development of SHR-4849, a novel drug for the treatment of small cell lung cancer and neuroendocrine solid tumors. Ideaya plans to submit a US Investigational New Drug application for SHR-4849 in the first half of 2025.

RBC Capital also maintained its Outperform rating on Ideaya, highlighting the company’s robust and diverse precision medicine pipeline. The firm pointed out the nomination of IDE892, a PRMT5 inhibitor, as a new MTAP candidate, and the potential data updates of darovasertib expected in 2025.

Furthermore, Ideaya has nominated IDE251, a potential first-in-class dual inhibitor targeting KAT6 and KAT7, for cancer treatment development. The company is preparing for Investigational New Drug submission to the U.S. Food and Drug Administration in 2025.

Lastly, Ideaya has initiated a Phase 1 clinical trial to evaluate the safety and efficacy of its investigational drug, IDE161, in combination with KEYTRUDA, Merck (NSE:PROR)’s anti-PD-1 therapy, for patients with high microsatellite instability and microsatellite stable endometrial cancer.

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