Jun. 2 at 11:04 AM
Citizens reit'd
$IDYA Mkt OP-
$45/said: IDEAYA Biosciences' ASCO update on OptimUM-02 data provided additional color on the strength of results, including safety and a highly favorable serious adverse event profile compared to checkpoint inhibitors.
$IMCR $IMTX REPL
Citizens added — We highlight that the ~7-month PFS value is >2.2 times the current SoC, significant progress in the management of metastatic uveal melanoma (MUM).
IDYA is moving toward regulatory approval via the RTOR process, expected to complete in 2H26 and set up a potential 2027 launch.
We maintain our Market Outperform rating and our
$45 DCF-derived price target on IDYA.
We highlight the name, based on the muted stock reaction, and highlight the large opportunity in MUM across HLA status (we may get HLA*A2+ data at ESMO).
