- IDEAYA Biosciences is an oncology specialist focused on precision medicine aiming to utilize molecular diagnostics to develop targeted therapeutics with a research focus on synthetic lethality.
- The company has two clinical phase therapeutics and six others in the pre-clinical/IND phase. It has two promising collaborations ongoing with Pfizer and GlaxoSmithKline worth $3 billion in potential milestone payments.
- IDEAYA has grown rapidly since its IPO in 2019, forming both the GSK partnership in 2020 and its first revenues in 3Q 2020 ($9M) with expected 2021 revenues of $34.6 million.
- The company's key catalyst for 2021 will be the interim data releases from IDE196/binimetinib combination therapy and IDE196 monotherapy therapeutics each reporting from its Phase 1/2 trials.
- In summary, I projects IDEAYA Biosciences as a Buy at a 1-year price target of $23.10 (+34% upside).
For further details see:
IDEAYA Bio: New GSK Partnership, $3B In Potential Cash Milestones, And 2 Key Therapeutics Advancing Rapidly, 34% Upside