IDEAYA Biosciences (IDYA) Q1 2026 earnings summary

Executive summary

• Focused on precision oncology, advancing nine first-in-class product candidates across synthetic lethality and ADCs for solid tumors, with lead program darovasertib in uveal melanoma at Phase 2/3 and Phase 3 stages.

• Achieved positive topline results in the Phase 2/3 OptimUM-02 trial for darovasertib combination in first-line HLA*A2-negative metastatic uveal melanoma, meeting its primary endpoint and showing significant clinical benefit.

• NDA submission for darovasertib combination planned for H2 2026, with Real-Time Oncology Review (RTOR) process initiated and global Phase 3 adjuvant trial planned.

• Entered major collaborations and licensing agreements, including a $210M upfront payment from Servier for ex-US rights to darovasertib and expanded clinical partnerships with Pfizer, Hengrui Pharma, Biocytogen, Gilead, and AstraZeneca.

• Multiple clinical updates and trial initiations across pipeline assets, including IDE849, IDE034, IDE892, and IDE574, are targeted for H2 2026 and beyond.

Financial highlights

• Collaboration revenue for Q1 2026 was $6.6M, down from $10.9M in Q4 2025, entirely from the Servier License Agreement.

• Net loss for Q1 2026 was $98.5M, a 37% increase year-over-year and up from $83.3M in Q4 2025, driven by higher R&D and G&A expenses.

• Research and development expenses rose 35% year-over-year to $95.7M, with significant increases in CRO/consultant fees and personnel costs.

• General and administrative expenses increased 44% year-over-year to $19.4M.

• Cash, cash equivalents, and marketable securities totaled $972.9M as of March 31, 2026, down from $1.05B at year-end 2025.

Outlook and guidance

• NDA filing for darovasertib combination targeted for completion in H2 2026, with potential U.S. accelerated approval.

• Multiple clinical data updates and trial initiations planned for H2 2026, including IDE849, IDE034, and IDE892.

• Cash runway guidance remains into 2030.

• Anticipates continued operating losses as clinical programs advance and new trials are initiated.