IDEAYA Biosciences, Inc. announced its financial results for the quarter and full year ended December 31, 2024, on February 13, 2025. The company reported cash, cash equivalents, and marketable securities of approximately $1.1 billion as of December 31, 2024, compared to $632.6 million at the end of 2023.
The robust cash position was primarily due to $379.9 million in net proceeds from at-the-market financings and $283.8 million from a public offering in July 2024. IDEAYA projects these funds will be sufficient to fund planned operations into at least 2028. Collaboration revenue for Q4 2024 was $7.0 million, stemming from a GSK milestone payment for IDE275 IND clearance.
Research and development (R&D) expenses for Q4 2024 totaled $140.2 million, including a $75.0 million upfront payment for the IDE849 license agreement with Hengrui Pharma. The net loss for Q4 2024 was $130.3 million, and for the full year 2024, it was $274.5 million. The company highlighted multiple clinical data readouts and program updates targeted for 2025 across its pipeline, including darovasertib, IDE275, IDE397, and IDE849.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.