Ideaya Biosciences Inc (NASDAQ:IDYA) disclosed a $300 million underwritten public offering of common stock and pre‑funded warrants.
The announcement triggered a 7.9% decline in the company’s shares in after‑hours trading on Monday, reflecting market concerns over potential shareholder dilution.
The offering includes a 30‑day option for the underwriters to purchase up to an additional $45 million of common stock.
Joint book‑running managers for the transaction are J.P. Morgan, Jefferies, TD Cowen, UBS Investment Bank and Cantor.
Ideaya focuses on precision‑medicine oncology, developing targeted therapies such as synthetic lethality agents and antibody‑drug conjugates for solid‑tumor indications.
