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IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a $1.91 billion biotech company, held its 2025 Annual Meeting of Stockholders on Tuesday. According to InvestingPro data, the company maintains strong liquidity with more cash than debt on its balance sheet, though it remains unprofitable. According to a company press release filed with the Securities and Exchange Commission, shareholders voted on three proposals.
For the election of Class III directors, shareholders elected Jeffrey L. Stein, Ph.D., to the board with 69,077,770 votes for and 7,955,948 votes withheld. Scott W. Morrison received 42,132,938 votes for and 34,900,780 votes withheld. Both directors will serve until the 2028 annual meeting or until successors are elected. There were 3,030,741 broker non-votes recorded for each nominee.
Shareholders also ratified the selection of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the year ending December 31, 2025. The proposal received 79,645,454 votes for, 228,609 votes against, and 190,397 abstentions. As a routine proposal, no broker non-votes were recorded.
In a non-binding advisory vote, shareholders approved the compensation of the company’s named executive officers, with 59,798,805 votes for, 17,040,207 votes against, 194,706 abstentions, and 3,030,741 broker non-votes.
The company reported that as of the record date of April 28, 2025, there were 87,577,550 shares of common stock outstanding and entitled to vote at the meeting.
All information in this article is based on a press release statement filed with the SEC.
In other recent news, IDEAYA Biosciences has received FDA clearance for a Phase 1 clinical trial of its investigational drug IDE849. This trial will assess the drug’s efficacy in treating solid tumors such as small cell lung cancer and neuroendocrine tumors. Additionally, IDEAYA is advancing its Phase 3 clinical trial for darovasertib as a neoadjuvant therapy for primary uveal melanoma, following a successful FDA Type D meeting. This trial aims to evaluate the drug’s safety and efficacy, with a focus on eye preservation and visual acuity maintenance. In another development, IDEAYA announced a change to its Board of Directors, with Dr. Susan L. Kelley deciding not to seek re-election at the company’s 2025 annual meeting. Dr. Kelley will transition to serve as Chair of IDEAYA’s newly formed Clinical Advisory Board. The company plans to reduce its Board size from eight to seven directors after the Annual Meeting. These developments are part of IDEAYA’s ongoing efforts in precision medicine oncology and corporate governance.
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