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IDEAYA Biosciences ( NASDAQ: IDYA ) on Monday announced a proposed public stock offering of up to $150M.
IDYA also said it intends to grant the underwriters a 30-day option to purchase up to $22.5M of shares of its common stock.
The announcement comes after the biotech earlier in the day said it would begin a mid-to-late stage trial of its lead program for experimental cancer therapies, sending its shares soaring .
IDYA stock eventually closed with a hefty gain of 35.7% at $20.26.