SOUTH
SAN FRANCISCO, Calif., July 9, 2024
/PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq: IDYA) today
announced the pricing of an underwritten public offering of common
stock and pre-funded warrants. IDEAYA is selling 7,228,572 shares
of common stock and pre-funded warrants to purchase 285,715 shares
of common stock in the offering. The shares of common stock are
being sold at a public offering price of $35.00 per share, before underwriting discounts
and commissions, and the pre-funded warrants are being sold at a
public offering price of $34.9999 per
pre-funded warrant. The exercise price of the pre-funded warrants
is $0.0001 per share. In addition,
IDEAYA has granted the underwriters a 30-day option to purchase up
to an additional 1,127,142 shares of its common stock at the public
offering price per share, before underwriting discounts and
commissions. The aggregate gross proceeds to IDEAYA from this
offering are expected to be approximately $263,000,000, before deducting underwriting
discounts and commissions and other offering expenses, and
excluding the exercise of any pre-funded warrants. The offering is
expected to close on or about July 11,
2024, subject to the satisfaction of customary closing
conditions.
J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies and RBC
Capital Markets are acting as joint book-running managers for the
offering.
The securities described above are being offered by IDEAYA
pursuant to an automatically effective shelf registration statement
on Form S-3 that was previously filed with the U.S. Securities
and Exchange Commission, or the SEC. The offering is being
made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement, copies
of which may be obtained, when available, by request from: J.P.
Morgan, by mail at J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at
prospectus-eq_fi@jpmorganchase.com and
postsalemanualrequests@broadridge.com; Goldman Sachs & Co. LLC
by mail at Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282, or by
telephone at 866-471-2526, or by email
at prospectus-ny@ny.email.gs.com; Jefferies, by mail at
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, New York, NY
10022, or by telephone at 877-547-6340 or 877-821-7388, or by email
at Prospectus_Department@Jefferies.com; or RBC Capital Markets, by
mail at RBC Capital Markets, LLC, Attention: Equity Capital
Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at
877-822-4089, or by email at equityprospectus@rbccm.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About IDEAYA Biosciences
IDEAYA is a precision medicine oncology company committed to the
discovery and development of targeted therapeutics for patient
populations selected using molecular diagnostics. IDEAYA's approach
integrates capabilities in identifying and validating translational
biomarkers with drug discovery to select patient populations most
likely to benefit from its targeted therapies. IDEAYA is applying
its research and drug discovery capabilities to synthetic lethality
– which represents an emerging class of precision medicine
targets.
Legal Notice Regarding Forward-Looking
Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts contained
herein, including without limitation statements regarding the
expected closing of the public offering, are forward-looking
statements reflecting the current beliefs and expectations of
management made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve substantial risks and
uncertainties that could cause IDEAYA's preclinical and clinical
development programs, future results, performance or achievements
to differ significantly from those expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, risks and uncertainties related to market conditions
and the satisfaction of closing conditions related to the proposed
public offering, the uncertainties inherent in the drug development
process, including IDEAYA's programs' early stage of development,
the process of designing and conducting preclinical and clinical
trials, serious adverse events, undesirable side effects or
unexpected characteristics of drug development candidates the
regulatory approval processes, the timing of regulatory filings,
the challenges associated with manufacturing drug products,
IDEAYA's ability to successfully establish, protect and defend its
intellectual property and other matters that could affect the
sufficiency of existing cash to fund operations. IDEAYA undertakes
no obligation to update or revise any forward-looking statements.
For a further description of the risks and uncertainties that could
cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of IDEAYA in general, see IDEAYA's current and future
filings with the SEC, including its Annual Report on Form 10-K
filed on February 20, 2024, Quarterly
Report on Form 10-Q filed on May 7,
2024 and preliminary prospectus supplement related to the
proposed public offering.
Investor and Media Contact
IDEAYA Biosciences
Andres Ruiz Briseno
Senior Vice President, Head of Finance and Investor Relations
investor@ideayabio.com
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SOURCE IDEAYA Biosciences, Inc.