Sep. 3 at 12:13 PM
JPMorgan⬆️
$IDYA $74 from
$72/reit'd OW ~it believes
$IDYA's early-stage updates for IDE849 / IDE397 can drive investor interest in the pipeline beyond darovasertib.
$PFE $GILD $DSNKY $AZN RHHBY
JPMorgan said in its note to investors: IDEAYA Biosciences is an emerging company in the precision-oncology space.
Importantly, Ideaya's lead asset, darovasertib (IDE196), has established proof-of-concept (POC) within uveal melanoma.
Net-net, we continue to see darovasertib, especially in the metastatic uveal melanoma (MUM) setting, as de-risked.
On the broader pipeline beyond darovasertib in
MUM, it is "choose your favorite adventure scenario", which provides interesting long-term optionality (we think darovasertib in neoadjuvant is underappreciated).
Looking forward, we anticipate focus on updates for darovasertib (metastatic / neoadjuvant settings), IDE397, and IDE849 programs. Our Overweight rating on
$IDYA shares is based on the potential of darovasertib and broad synthetic lethality pipeline.
