| Item 2.02 |
Results of Operations and Financial Condition. |
Based upon preliminary estimates and information available to IDEAYA Biosciences, Inc. (the “Company”) as of October 24, 2023, the Company expects to report that the Company had approximately $511.1 million in cash, cash equivalents and marketable securities as of September 30, 2023. The Company has not yet completed its quarter-end financial close processes for the quarter ended September 30, 2023. The review of the Company’s financial statements for the quarter ended September 30, 2023 is ongoing and could result in changes to this amount. This estimate of the Company’s cash, cash equivalents and marketable securities as of September 30, 2023 is preliminary, has not been audited, does not present all information necessary for an understanding of the Company’s financial condition as of September 30, 2023 and is subject to change upon completion of the Company’s financial statement closing procedures. The preliminary financial data included in this Current Report on Form 8-K has been prepared by, and is the responsibility of, the Company’s management. PricewaterhouseCoopers LLP, the Company’s independent registered public accounting firm, has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto. Additional information and disclosure would be required for a more complete understanding of the Company’s financial position and results of operations as of September 30, 2023.
The information furnished under this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
In June 2023, following approval by the Company’s board of directors, the Company entered into an “at-the-market” program and sales agreement (the “ATM facility”) with Jefferies LLC, under which it may, from time to time, offer and sell common stock having an aggregate offering value of up to $250.0 million, referred to as its “at-the-market” offering. The Company has sold 1,036,421 shares of its common stock at a weighted average sales price of approximately $26.27 per share through its “at the market” offerings between July 1, 2023 and October 20, 2023, and as of that date has approximately $222.5 million of common stock remaining available to be sold under the ATM facility.