IDEAYA Biosciences, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 02:00 am IST
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IDEAYA Biosciences, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 3.54 million compared to USD 5.85 million a year ago. Net loss was USD 27.93 million compared to USD 22.06 million a year ago. Basic loss per share from continuing operations was USD 0.5 compared to USD 0.57 a year ago.
For the six months, revenue was USD 11.42 million compared to USD 17.21 million a year ago. Net loss was USD 51.57 million compared to USD 36.07 million a year ago. Basic loss per share from continuing operations was USD 0.99 compared to USD 0.93 a year ago.
IDEAYA Biosciences, Inc. is a precision medicine oncology company. The Company is engaged in the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. Its lead product candidates are darovasertib (IDE196), IDE397, IDE161 and GSK101 (Pol Theta Helicase). IDE196, a small molecule protein kinase C (PKC), inhibitor, in combination with crizotinib, an investigational cMET inhibitor. IDE397, is its small molecule methionine adenosyltransferase 2a (MAT2A), inhibitor. IDE161, is its small molecule poly (ADP-ribose) glycohydrolase (PARG), inhibitor. IDE196 is its clinical-stage PKC inhibitor that the Company is evaluating as a synthetic lethal combination therapy. IDE397, a MAT2A inhibitor for patients with solid tumors having MTAP deletions. IDE161 is its clinical-stage, potent and selective small molecule inhibitor of PARG for patients having tumors with defined biomarkers based on genetic mutations and/or molecular signatures.