SOUTH
SAN FRANCISCO, Calif., April 24,
2023 /PRNewswire/ -- IDEAYA Biosciences,
Inc. (Nasdaq: IDYA) today announced that it intends to offer
and sell up to $150 million of shares
of its common stock in an underwritten public offering. In
addition, IDEAYA intends to grant the underwriters a 30-day option
to purchase up to $22.5 million of
shares of its common stock. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
J.P. Morgan, Jefferies and Citigroup are acting as joint
book-running managers 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
will be made only by means of a written prospectus and a prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC's website. When
available, copies of the preliminary prospectus supplement and the
accompanying prospectus relating to these securities may also be
obtained 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; or 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 by email at
prospectus@citi.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 offer
and sale of shares, the terms of the 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, 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
Annual Report on Form 10-K filed on March 7,
2023, the preliminary prospectus supplement related to the
proposed public offering and subsequent filings with the SEC.
Investor and Media Contact
IDEAYA Biosciences
Paul Stone
Senior Vice President and Chief Financial Officer
investor@ideayabio.com
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SOURCE IDEAYA Biosciences, Inc.