IDEAYA Biosciences Closes $247M Public Offering
Ticker: IDYA · Form: 8-K · Filed: Jul 11, 2024 · CIK: 1676725
| Field | Detail |
|---|---|
| Company | Ideaya Biosciences, Inc. (IDYA) |
| Form Type | 8-K |
| Filed Date | Jul 11, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $35.00, $34.9999, $32.90, $32.8999 |
| Sentiment | bullish |
Sentiment: bullish
Topics: financing, public-offering, biotech
TL;DR
IDEAYA closed its $247M stock offering, bringing in cash to fund its cancer drug pipeline.
AI Summary
On July 9, 2024, IDEAYA Biosciences, Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully sold approximately 10.3 million shares of common stock at a price of $24.00 per share, generating gross proceeds of about $247.2 million before deducting underwriting discounts and commissions. This offering was completed on July 5, 2024.
Why It Matters
The successful completion of this significant capital raise provides IDEAYA Biosciences with substantial funds to advance its pipeline of precision oncology therapies, potentially accelerating drug development and clinical trials.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company's success is still dependent on the clinical and regulatory outcomes of its drug candidates.
Key Numbers
- $247.2M — Gross Proceeds (From public offering of common stock)
- 10.3M — Shares Sold (In underwritten public offering)
- $24.00 — Price Per Share (For common stock offering)
Key Players & Entities
- IDEAYA Biosciences, Inc. (company) — Registrant
- July 9, 2024 (date) — Date of earliest event reported
- $247.2 million (dollar_amount) — Gross proceeds from public offering
- 10.3 million (dollar_amount) — Number of shares sold
- $24.00 (dollar_amount) — Price per share
- July 5, 2024 (date) — Date of offering closing
FAQ
What was the total amount of gross proceeds from the public offering?
The total gross proceeds from the underwritten public offering were approximately $247.2 million.
How many shares of common stock did IDEAYA Biosciences sell?
IDEAYA Biosciences sold approximately 10.3 million shares of its common stock.
At what price per share was the common stock offered?
The common stock was offered at a price of $24.00 per share.
When did the underwritten public offering close?
The underwritten public offering closed on July 5, 2024.
What is the primary purpose of the funds raised from this offering?
The filing implies the funds will be used to advance the company's pipeline of precision oncology therapies, though specific use of proceeds is not detailed in this excerpt.
Filing Stats: 977 words · 4 min read · ~3 pages · Grade level 11.1 · Accepted 2024-07-11 16:12:29
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share IDYA The Nasdaq
- $35.00 — price to the public in the Offering is $35.00 per Share and $34.9999 per Pre-Funded W
- $34.9999 — in the Offering is $35.00 per Share and $34.9999 per Pre-Funded Warrant, which is the pr
- $32.90 — e Shares from the Company at a price of $32.90 per Share and the Pre-Funded Warrants f
- $32.8999 — Warrants from the Company at a price of $32.8999 per Pre-Funded Warrant. In addition, un
- $283.8 m — received net proceeds of approximately $283.8 million, after deducting the Underwriters
Filing Documents
- d807091d8k.htm (8-K) — 30KB
- d807091dex11.htm (EX-1.1) — 271KB
- d807091dex41.htm (EX-4.1) — 63KB
- d807091dex51.htm (EX-5.1) — 18KB
- g807091g0711061605164.jpg (GRAPHIC) — 3KB
- g807091g0711061605645.jpg (GRAPHIC) — 2KB
- 0001193125-24-177726.txt ( ) — 608KB
- idya-20240709.xsd (EX-101.SCH) — 3KB
- idya-20240709_lab.xml (EX-101.LAB) — 18KB
- idya-20240709_pre.xml (EX-101.PRE) — 11KB
- d807091d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated as of July 9, 2024, among IDEAYA Biosciences, Inc. and J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Jefferies LLC and RBC Capital Markets, LLC, as representatives of the several underwriters named therein. 4.1 Form of Pre-Funded Warrant. 5.1 Opinion of Latham & Watkins LLP. 23.1 Consent of Latham & Watkins LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IDEAYA BIOSCIENCES, INC. Date: July 11, 2024 By: /s/ Yujiro Hata Yujiro Hata President and Chief Executive Officer