Ideaya Biosciences Inc: NDR Takeaways: Rolling Filing with FDA on Uveal Melanoma; New PRMT5/RAS Combo Could Be Significant Upside Catalyst Pending Data...

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Ideaya Biosciences Inc: NDR Takeaways: Rolling Filing with FDA on Uveal Melanoma; New PRMT5/RAS Combo Could Be Significant Upside Catalyst Pending Data...

Global Research

22 July 2026ab

Ideaya Biosciences Inc Equities

United StatesNDR Takeaways: Rolling Filing with FDA on Uveal

Melanoma; New PRMT5/RAS Combo Could Be Biotechnology

12-month rating Buy *Significant Upside Catalyst Pending Data…

12m price target US$50.00

We hosted IDYA mgmt for a packed NDR and remain upbeat about the stock. We view Price (22 Jul 2026) US$35.00

the story as increasingly well diversified, with darovasertib serving as the lead program in

RIC: IDYA.O BBG: IDYA US

uveal melanoma and representing a potential blockbuster oppty across both the

(neo)adjuvant and metastatic settings. We also believe the broader pipeline remains Trading data and key metrics

underappreciated by the Street. In particular, we continue to like the PRMT5 program, 52-wk range US$40.51-22.41

now in Phase I as both a monotherapy and in combination with ROG's pan-RAS Market cap. US$3.07b

program. While there has been significant industry momentum around the target, IDYA Shares o/s 87.6m (COM)

believes its candidate has a differentiated and potentially superior profile. Overall, we

Free float 99%

continue to like the stock here and view it as an attractive undervalued pipeline story.

Avg. daily volume ('000) 1,122

Reiterate Top Pick.

Avg. daily value (m) US$36.2

Common s/h equity (12/26E) US$0.66b

(1) Darovasertib in rolling filing with FDA under the RTOR pathway and on track P/BV (12/26E) 4.7x

- The company has submitted two of the three pre-submission modules and expects to

Net debt to EBITDA (12/26E) 1.6x

finish the last one soon for a likely approval as soon as H1/27. The company remains in