- The biotech bear market has been particularly hard on Precision Oncology companies - particularly those that came to market on the back of lucrative IPOs.
- Ideaya IPO'd in 2019, raising a modest $55m, and it continues to trade above its IPO price of $10, which is rare. Shares hit a high of $26 last September.
- The biotech - founded by a biotech veteran VC - has a partnership in place with Pfizer for a combo drug targeting metastatic uveal melanoma.
- It also has an agreement with GSK to develop three drug candidates focused on "Synthetic Lethality," an MoA that has shown promise in preclinical studies, with detailed clinical data to follow soon.
- All in all, Ideaya - valued at <$500m market cap, looks an intriguing bet - the next six months may well reveal if the biotech is destined for a commercial future and some substantial share price upside.
For further details see:
Ideaya: Next 6 Months Critical For Precision Oncology Biotech