IDEAYA Biosciences — Third Quarter 2026 Earnings Summary

Financial Performance:

• Collaboration revenue for the three months ended September 30, 2026, totaled $10.2 million, an increase from $8.9 million in the prior quarter.
• Research and development expenses for the three months ended September 30, 2026, were $121.6 million, up from $108.7 million in the prior quarter.
• General and administrative expenses for the three months ended September 30, 2026, were $26.3 million, up from $22.5 million in the prior quarter.
• Net loss for the three months ended September 30, 2026, was $125.7 million, compared to a net loss of $112.5 million in the prior quarter.
• Total stock-based compensation expense for the three months ended September 30, 2026, was $17.7 million, compared to $16.7 million in the prior quarter.
• Cash, cash equivalents, and marketable securities totaled $1.15 billion as of September 30, 2026, down from $1.24 billion as of June 30, 2026.
• Remaining balance for research and development services performance obligations under the Servier agreement was $139.8 million as of September 30, 2026.
• Net loss per share (basic and diluted) for the three months ended September 30, 2026, was $1.22, compared to $1.22 in the prior quarter.
• Net loss for the nine months ended September 30, 2026, was $336.7 million, compared to a net loss of $30.4 million for the same period in 2025.

Guidance and Future Outlook:

• Cash runway guidance into 2030 remains unchanged based on the current operating plan.
• Initial data from the IDEAYA-sponsored global Phase 1/2 trial of IDE849 is expected by the end of 2026 or early 2027.
• IDEAYA plans to initiate two Phase 3 registrational trials with IDE849 in ES-SCLC and NEC by the end of 2026.
• A Phase 1 trial evaluating IDE892 in combination with RG6505 (Roche's pan-RAS inhibitor) in MTAP-deleted, RAS-mutant PDAC is targeted for initiation by the end of 2026.
• Expansion of the IDE892 and IDE397 combination cohort is planned for the first half of 2027.
• Initial clinical data from the ongoing Phase 1 dose escalation trial of IDE034 is expected in 2027.

Business Segments and Product Lines:

• Darovasertib (Uveal Melanoma):
  • Submitted a New Drug Application (NDA) to the FDA in Q3 2026 for darovasertib plus crizotinib in metastatic uveal melanoma under the RTOR program.
  • Presented data from OptimUM-01 (101 HLA-A02:01-positive patients) and OptimUM-02 (HLA-A02:01-negative patients), showing statistically significant improvement in median progression-free survival for the combination therapy versus investigator's choice.
  • OptimUM-09 Phase 2 data showed >85% tumor shrinkage in primary UM, with a 57% eye preservation rate in the enucleation cohort and 74-79% of patients in the plaque brachytherapy cohort achieving reduced radiation doses.
  • Enrollment for Phase 3 OptimUM-010 was stopped due to site activation and enrollment challenges, expected to save $100-125 million.
  • Initiated global Phase 3 OptimUM-011 trial in the adjuvant setting for primary uveal melanoma, expected to enroll 450 patients.
• Antibody-Drug Conjugates (ADCs):
  • IDE849 (DLL3 TOP1 ADC): Hengrui-sponsored Phase 1 data showed median overall survival of 17.4 months in 2L SCLC; in NEC patients (n=19), confirmed ORR was 36.8% and median PFS was 7.0 months.
  • IDE161 (PARG): Phase 1 combination cohort of IDE849 with IDE161 is underway in ES-SCLC, NEC, and other DLL3-overexpressing solid tumors.
  • IDE034 (B7H3/PTK7 bispecific TOP1 ADC): Phase 1 dose escalation trial ongoing.
• MTAP Pathway:
  • IDE892 (PRMT5): Monotherapy expansion initiated in MTAP-deleted solid tumors (NSCLC, PDAC); maximum tolerated dose not yet reached.
  • IDE397 (MAT2A): Phase 1/2 combination cohort with IDE892 initiated in MTAP-deleted cancers.
• KAT6/7:
  • IDE574 (KAT6/7): Phase 1 dose escalation trial underway in solid tumors; first patient dosed in a combination cohort with fulvestrant in ER+ metastatic breast cancer in October.

Market and Competitive Landscape:

• Data presented at ESMO 2026 supports darovasertib as a foundational therapy across the uveal melanoma treatment journey, irrespective of HLA-A*02:01 allele status or line of therapy.
• IDEAYA established clinical collaborations with Roche and Genentech to exploit MTAP/CDKN2A deficiency in KRAS-mutant cancers.
• IDEAYA entered a Clinical Supply Collaboration Agreement with Genentech in August to evaluate IDE892 with RG6620 (KRAS G12D inhibitor).

Risks and Challenges:

• Enrollment challenges and ongoing site activation issues led to the closure of the Phase 3 OptimUM-010 trial.
• Risks include drug development, regulatory review and approval, clinical trial site activation and enrollment, manufacturing, reliance on collaborations, commercialization, and sufficiency of capital resources.
• Actual results may differ materially from forward-looking statements due to risks related to macroeconomic conditions and changes in the operating plan.

Management Commentary and Tone:

• CEO Yujiro S. Hata expressed encouragement regarding the momentum in Q3 2026, citing the successful NDA filing and clinical data updates at ESMO.
• Management highlighted the scientific rationale for the MTAP/CDKN2A franchise and the potential to establish a new standard of care.
• Dr. Michael White was promoted to President, Research and Development, bringing prior experience from Pfizer and UT Southwestern.

Other Key Points:

• IDEAYA will host an R&D Day on November 16, 2026, in London to present preclinical data on rational combinations for KRAS-mutant cancers.
• The closure of OptimUM-010 is expected to result in estimated cost savings of $100-125 million, which will be reallocated to other high-value programs including IDE849 and IDE892.
• IDEAYA plans to submit published data from OptimUM-09 to support potential inclusion in clinical practice guidelines for neoadjuvant darovasertib.