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    Is GSK’s Exit and IDE034’s FDA Green Light Reframing the Investment Case For IDEAYA Biosciences (IDYA)?

    Simply Wall St·12/09/2025 03:15:57
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    • In early December 2025, GSK notified IDEAYA Biosciences that it will terminate their 2020 collaboration, returning the Werner Helicase (IDE275) and Pol Theta (IDE705) programs, while IDEAYA also secured FDA clearance to begin a Phase 1 trial of its bispecific B7H3/PTK7 ADC IDE034 for multiple solid tumors in 2026.
    • This combination of a major partnership unwind and the advancement of a potentially first-in-class oncology asset highlights IDEAYA’s increasing control over its pipeline and its confidence in funding operations into 2030.
    • We’ll now examine how gaining full ownership of key DNA repair programs while advancing IDE034 into the clinic shapes IDEAYA’s investment narrative.

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    What Is IDEAYA Biosciences' Investment Narrative?

    To own IDEAYA Biosciences, you have to be comfortable backing an R&D-heavy, loss-making oncology company whose value is tied to clinical execution rather than current earnings. The stock has already outperformed the broader market, and the key near term catalysts still sit with darovasertib data and any clarity on potential regulatory paths in uveal melanoma, plus updates across the IDE397 and IDE161 DNA repair programs. The GSK exit changes the story at the margin: it hands IDEAYA full control of IDE275 and IDE705, but removes a large pharma partner and pushes decisions on spend and partnering squarely back onto management. By contrast, IND clearance for IDE034 adds another early clinical shot on goal without altering the core risk that IDEAYA remains unprofitable and reliant on capital markets.

    However, one issue around IDEAYA’s spending and partnership decisions is easy to miss, yet material for shareholders. Our valuation report unveils the possibility IDEAYA Biosciences' shares may be trading at a premium.

    Exploring Other Perspectives

    IDYA 1-Year Stock Price Chart
    IDYA 1-Year Stock Price Chart
    Two Simply Wall St Community fair value views span from US$49.47 to a very large upper estimate, underscoring how far apart individual expectations can be. Against that backdrop, the GSK collaboration unwind and IDE034’s entry into the clinic leave investors weighing pipeline breadth against persistent losses and a rich sales multiple.

    Explore 2 other fair value estimates on IDEAYA Biosciences - why the stock might be worth just $49.47!

    Build Your Own IDEAYA Biosciences Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.