Ideaya Biosciences price target raised to $35 from $29 at H.C. Wainwright » 06:1404/1904/19/21
H.C. Wainwright analyst…
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Ideaya Biosciences price target raised to $31 from $23 at Roth Capital » 15:2004/1604/16/21
Roth Capital analyst…
Roth Capital analyst Zegbeh Jallah raised the firm's price target on Ideaya Biosciences to $31 from $23 and keeps a Buy rating on the shares after the company announced the results of its Phase 1/2 study evaluating darovasertib as a monotherapy and in combination with Binimetinib in solid tumors, including metastatic uveal melanoma. The stock in afternoon trading is up 9c to $18.79. Monotherapy resulted in superior overall survival versus historical data and the commination achieved early partial responses, Jallah tells investors in a research note. The analyst believes the "positive data presented clearly de-risks" the darovasertib opportunity and that metastatic uveal melanoma is a large unmet medical need.
Ideaya Biosciences price target raised to $34 from $28 at JPMorgan » 10:5704/1604/16/21
JPMorgan analyst Anupam…
JPMorgan analyst Anupam Rama raised the firm's price target on Ideaya Biosciences to $34 from $28 and keeps an Overweight rating on the shares after the company announced data from its phase 1/2 trial of darovasertib monotherapy and binimetinib combination therapy in patients with solid tumors. Rama views the totality of the IDE196 data as de-risking and the price target increase is based on model adjustments that include an increased view on the odds of success.
Ideaya Biosciences announces data from ongoing darovasertib, binimetinib trial » 06:1004/1604/16/21
IDYA, NVS, PFE
Ideaya Biosciences (IDYA)…
Ideaya Biosciences (IDYA) announced clinical data from the ongoing Phase 1/2 trial evaluating darovasertib monotherapy and binimetinib combination therapy in patients with solid tumors, including Metastatic Uveal Melanoma, or MUM, and Skin Melanoma. There have been 81 darovasertib monotherapy BID MUM and seven Skin Melanoma patients enrolled across the Ideaya and Novartis (NVS) Phase 1/2 clinical trials at the time of data and analyses cutoff on April 13, with an aggregate of 88 patients evaluable for safety and 81 evaluable for efficacy based on RECIST 1.1. Reported data is preliminary and based on an unlocked database. Evaluation and follow-up of the monotherapy arm of the clinical trial continues. Overall, a 57% one-year overall survival, or OS, rate was observed in predominantly second line, third line and heavily pre-treated MUM patients with 95% CI. Historical one-year OS rate in similar MUM populations has been reported at 37%. Median OS of 13.2 months was observed in predominanantly second line, third line and heavily pre-treated MUM patients with 95% CI. Historical median OS in similar MUM populations has been reported at approximately seven months. In total, 61% of MUM patients out of 75 evaluable had tumor reduction per RECIST 1.1. evaluation, including 15 patients with greater than 30% target lesion reduction and one confirmed complete response. In the Skin Melanoma cohort, 80% of evaluable patients had tumor reduction per RECIST 1.1. evaluation, including one confirmed partial response. Overall safety profile of darovasertib monotherapy is consistent with prior reports and includes primarily common low grade but manageable GI toxicities and hypotension. The combination of darovasertib plus binimetinib is being evaluated pursuant to a clinical trial collaboration and drug supply agreement with Pfizer (PFE), which the companies have amended to support a target enrollment of approximately 40 patients in the darovasertib and binimetinib clinical combination arm in MUM. At the time of the data and analyses cutoff on April 13, twenty four MUM patients have enrolled in the darovasertib and binimetinib combination study, including eight patients dosed in the Phase 1/2 dose expansion cohort of the combination study. Reported data is preliminary and based on an unlocked database. Enrollment in the darovasertib and binimetinib combination arm of the clinical trial is ongoing. Two partial responses observed out of nine MUM patients with at least two post-baseline scans by RECIST 1.1 guidelines, including one confirmed partial response and one unconfirmed partial response awaiting a confirmatory scan 79% of evaluable MUM patients with at least one post-baseline scan show tumor reduction; follow-up for overall response is still immature. Combination doses for Phase 1/2 dose expansion have been selected based on anticipation of activity and overall tolerability in a larger treatment cohort Treatment-related adverse events observed in the darovasertib and binimetinib combination arm in MUM primarily include: nausea, vomiting, diarrhea, rash, edema, AST/ALT increase and CK increase and hypotension. Ideaya's clinical development strategy in MUM is focused on darovasertib combinations, including with binimetinib, a MEK inhibitor, and in a separate clinical study with crizotinib, a cMET inhibitor, each pursuant to the clinical trial collaboration and drug supply agreement with Pfizer.
Ideaya Biosciences doses first patient in IDE397 clinical trial » 06:0404/1504/15/21
Ideaya Biosciences announced first-patient-in, or FPI, in the Phase 1 clinical trial evaluating IDE397. IDE397 is a methionine adenosyltransferase 2a, or MAT2A, inhibitor being evaluated in cancer patients harboring methylthioadenosine phosphorylase, or MTAP, deletion.
Ideaya Biosciences pullback a buying opportunity, says Northland » 08:5404/1304/13/21
Northland analyst Timothy…
Northland analyst Timothy Chiang said he would be a buyer of Ideaya Biosciences on the recent pullback ahead of what he sees as multiple near term catalysts, including the company's upcoming investor day meeting on April 20. The analyst, who also points to clinical data updates this year for IDE196, said the stock remains a top pick and he keeps an Outperform rating on the shares.
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Ideaya Biosciences price target raised to $33 from $20 at Citi » 06:3403/2403/24/21
Citi analyst Mohit Bansal…
Citi analyst Mohit Bansal raised the firm's price target on Ideaya Biosciences to $33 from $20 and keeps a Buy rating on the shares. The company has been making "steady progress" with its synthetic lethality program, with lead program IDE397 now in clinics and preliminary data expected in the second half of 2021, Bansal tells investors in a research note. The analyst sees Ideaya's risk profile improving as its cash runway is now until 2024.
Ideaya Biosciences files $400M mixed securities shelf 07:2103/2303/23/21
Ideaya Biosciences files $400M mixed securities shelf 07:0903/2303/23/21
Ideaya announces dose expansion of Phase 1/2 study of IDE196/binimetinib » 06:1203/2303/23/21
IDEAYA Biosciences announced dose expansion of the ongoing Phase 1/2 study evaluating the combination of IDE196 and binimetinib in metastatic uveal melanoma. IDEAYA is the sponsor of this combination study, which is being conducted pursuant to a clinical trial collaboration and drug supply agreement with Pfizer. IDE196 is IDEAYA's clinical stage protein kinase C, or PKC, inhibitor and binimetinib is a MEK inhibitor to which Pfizer has exclusive rights in the U.S. and Canada. The IDE196 and binimetinib combination initiated dose expansion based on early clinical activity, including percentage of patients with tumor reduction. The IDE196 and binimetinib combination arm will target to enroll approximately 40 patients in the Phase 1/2 study in MUM. IDEAYA received a Notice of Allowance of U.S. Patent Application No. 16/666,108 covering methods of treating certain cancer types, including metastatic uveal melanoma, uveal melanoma and melanoma using a combination of IDE196 and a MEK inhibitor. Based on the preliminary IDE196 monotherapy clinical data and its mechanism of action, IDEAYA anticipates clinical activity independent of Human Leukocyte Antigen status in GNAQ/11-mutation cancers. IDEAYA is targeting interim data from the IDE196 and binimetinib clinical combination arm in MUM and from the IDE196 monotherapy arm of the Phase 1/2 basket trial in MUM and GNAQ/11-mutation skin melanoma in 2021. As part of the IDE196 monotherapy clinical data update in 2021, IDEAYA is targeting to report tolerability and clinical efficacy, including survival data in MUM.