IDEAYA Biosciences, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 4, 2024. The company held cash, cash equivalents, and marketable securities totaling $1.2 billion as of September 30, 2024, an increase from $952.7 million as of June 30, 2024.
The increase in cash was primarily driven by $283.8 million in net proceeds from an underwritten public offering of common stock and pre-funded warrants completed in July 2024. Research and development (R&D) expenses for the quarter were $57.2 million, while general and administrative (G&A) expenses totaled $9.7 million.
The net loss for the three months ended September 30, 2024, was $51.8 million. The company highlighted recent achievements including the IND clearance for Werner Helicase inhibitor IDE275 with GSK, positive IDE397 data from ENA 2024, and a successful FDA Type C meeting for darovasertib in neoadjuvant uveal melanoma.
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