SOUTH
SAN FRANCISCO, Calif., Sept. 14,
2022 /PRNewswire/ -- IDEAYA Biosciences,
Inc. (Nasdaq: IDYA) today announced the pricing of an
underwritten public offering of 7,619,048 shares of its common
stock at a public offering price of $10.50 per share, before underwriting discounts
and commissions. In addition, IDEAYA has granted the underwriters a
30-day option to purchase up to an additional 1,142,857 shares of
common stock at the public offering price, less underwriting
discounts and commissions. The gross proceeds from the offering,
before deducting underwriting discounts and commissions and other
offering expenses payable by IDEAYA, are expected to be
approximately $80.0 million,
excluding any exercise of the underwriters' option to purchase
additional shares. The offering is expected to close on or about
September 19, 2022, subject to the
satisfaction of customary closing conditions.
![(PRNewsfoto/IDEAYA Biosciences, Inc.) (PRNewsfoto/IDEAYA Biosciences, Inc.)](https://mma.prnewswire.com/media/820568/IDEAYA_Logo.jpg)
J.P. Morgan, Jefferies, Citigroup and Guggenheim Securities are
acting as joint book-running managers for the offering. Wedbush
PacGrow is acting as lead manager for the offering.
The securities described above are being offered by IDEAYA
pursuant to a shelf registration statement on Form S-3 that was
previously filed with and declared effective by 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 telephone at
866-803-9204, or by email at prospectus-eq_fi@jpmorganchase.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; Citigroup, by mail at
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at 1-800-831-9146; or Guggenheim
Securities, by mail at Guggenheim Securities, LLC, Attention:
Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, or by telephone at
(212) 518-5548 or by email at
gsequityprospectusdelivery@guggenheimpartners.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 synthetic lethality focused 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, 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, 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, the effects on IDEAYA's business
of the worldwide COVID-19 pandemic, 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 recent
Quarterly Report on Form 10-Q filed on August 15, 2022, the preliminary prospectus
supplement related to the proposed public offering and subsequent
filings with the SEC.
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SOURCE IDEAYA Biosciences, Inc.