IDEAYA Biosciences, a Phase 1 biotech developing targeted therapies for genetically-defined cancers, announced terms for its IPO on Monday.
The South San Francisco, CA-based company plans to raise $70 million by offering 5 million shares at a price range of $13 to $15. Insiders intend to purchase $35 million worth of shares in the offering (50% of the deal). At the midpoint of the proposed range, IDEAYA Biosciences would command a fully diluted market value of $290 million.
IDEAYA Biosciences was founded in 2015 and plans to list on the Nasdaq under the symbol IDYA. J.P. Morgan, Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of May 20, 2019.
