IDEAYA Posts $10.88 M Q4 Revenue, Enrolls First Patient in IDE034 Trial
IDEAYA enrolled the first patient in its Phase 1 IDE034 bispecific ADC trial, triggering a $5 M milestone payment to Biocytogen and planning both monotherapy and combination studies. The company posted Q4 revenue of $10.88 M, outpacing the $5.95 M consensus, driven by collaboration fees under its Servier darovasertib license.
1. First Patient Enrolled in IDE034 Phase 1 Trial
On February 25, IDEAYA enrolled the first patient in its Phase 1 dose escalation and expansion trial of IDE034, an investigational PTK7/B7H3 bispecific TOP1 antibody–drug conjugate. The study will assess safety, tolerability and pharmacokinetics of IDE034 as monotherapy and in combination with DNA damage response agents including the proprietary PARG inhibitor IDE161. Enrollment triggered a $5 M milestone payment to Biocytogen under the companies’ option and license agreement.
2. Q4 Revenue Exceeds Consensus Estimates
IDEAYA reported Q4 revenue of $10.88 M, surpassing the $5.95 M consensus, driven by collaboration revenue recognized under its Servier exclusive license agreement for darovasertib. The quarter’s highlights included completing enrollment of 437 patients in the OptimUM-02 Phase 2/3 registrational trial, IND submissions for IDE034 and IDE574, and expansion of its U.S. commercial organization ahead of upcoming progression-free survival topline results.
3. Theodora Ross Named Chief Development Officer
On February 23, IDEAYA appointed Theodora Ross as chief development officer to lead early clinical development and guide long-term R&D strategy across its emerging oncology pipeline. Ross joins IDEAYA from AbbVie, serving as vice president and head of early oncology R&D and Bay Area site head, bringing extensive experience in clinical pipeline management.