South San Francisco-based Ideaya Biosciences (Nasdaq: IDYA) announced the pricing of a public offering of common stock and pre-funded warrants, raising approximately USD 300 million in gross proceeds. Monies raised are earmarked to support the continued advancement of the lead darovasertib program, its in-licensed DLL3-targeting ADC IDE849, and broader synthetic lethality assets.
The offering specifics: Ideaya will offer 5,555,556 shares of IDYA stock priced at USD 27.00 per share, alongside pre-funded warrants to purchase 5,555,576 shares at USD 26.9999 per warrant. Underwriters have a 30-day option to purchase up to an additional 1,666,669 shares at the public offering price, which could increase total gross proceeds beyond the USD 300 million base. The offering was expected to close on or about June 10, 2026. The pricing details follow the company's proposed offering disclosure on the same day, June 8, 2026.
Ideaya is a South San Francisco-based precision oncology company focused on small-molecule drug discovery and antibody-drug conjugates for molecularly defined solid tumor indications. Its strategy centers on synthetic lethality — exploiting specific genomic vulnerabilities in tumor cells — combined with biomarker-driven patient selection.
The lead asset is darovasertib, a small-molecule PKC inhibitor in development for metastatic uveal melanoma, a rare ocular malignancy with limited treatment options. In September 2025, IDEAYA out-licensed ex-US rights to darovasertib to Servier, retaining full US development and commercialization rights.
The second major pipeline asset is IDE849, a DLL3-targeting topoisomerase I-payload ADC in-licensed from Jiangsu Hengrui Pharmaceuticals in December 2024 for an upfront payment of USD 75 million. Ideaya acquired exclusive worldwide rights outside Greater China to IDE849, which was already in Phase I development at the time of the deal. DLL3 is highly expressed in small cell lung cancer and neuroendocrine tumors, indications characterized by high unmet need and limited approved targeted therapies. Positive Phase I data for IDE849 were presented at the IASLC 2025 World Conference on Lung Cancer. In the competitive ADC space, IDE849 faces overlap with programs from AstraZeneca and others targeting DLL3 in SCLC, though IDEAYA's focus on biomarker-defined populations and synthetic lethality combinations may differentiate its clinical approach.