NEW YORK, May 31, 2026, 09:03 EDT
- IDEAYA ended Friday at $29.47, finishing up roughly 1.3% for the shortened U.S. week.
- Next up is ASCO. Full OptimUM-02 darovasertib data set to come out June 1.
- U.S. markets closed for the weekend after a shortened four-day trading week that started after the Memorial Day holiday.
IDEAYA Biosciences (IDYA) edged higher in a holiday-shortened week, finishing Friday at $29.47, up 0.4%. Shares added about 1.3% from the previous week’s close. Investors shrugged off an employee stock-option grant and focused on cancer-drug results expected at ASCO this week.
U.S. stock trading paused Monday for Memorial Day, leaving the week with only four sessions. Markets are closed again for the weekend. According to Nasdaq’s 2026 holiday calendar, May 25 will also be a full closure for Memorial Day.
IDEAYA traded with less noise than most biotech names. The SPDR S&P Biotech ETF was up about 3.8% for the week, climbing to $136.69 from $131.66 on Friday. The Nasdaq Composite gained 2.4% over the same stretch.
The focus for the stock now shifts from last week’s trading to what’s coming up. IDEAYA says it will present full results from its OptimUM-02 trial testing darovasertib with crizotinib in first-line HLA-A2-negative metastatic uveal melanoma at a late-breaking oral session at the American Society of Clinical Oncology meeting on June 1 in Chicago. HLA-A2 is a genetic marker used to split patients for specific treatments.
IDEAYA on Friday said its board compensation panel gave stock options for 221,000 shares to six new hires. The options are priced at $29.34, matching the May 28 close. They vest over four years.
Darovasertib making the jump from clinical news to a real commercial story is still the bigger question. IDEAYA said this month that its OptimUM-02 study cut the risk of disease progression by 58%. Patients on the drug combo had progression-free survival of 6.9 months, compared with 3.1 months for the investigator-chosen therapy.
IDEAYA plans to file its New Drug Application in the second half of 2026. The company said the FDA has agreed to a Real-Time Oncology Review, which allows the agency to start reviewing sections of the filing before the whole application is submitted.
Immunocore’s Kimmtrak is approved by the FDA for HLA-A*02:01-positive adults with unresectable or metastatic uveal melanoma, which means IDEAYA is starting with the HLA-A2-negative group before moving to wider studies of darovasertib. The competitive field is small but matters.
Guggenheim’s Paul Jeng said doctor checks point to “rapid and robust” take-up for darovasertib, but analysts say this is still an open question. IDEAYA medical chief Darrin Beaupre told Reuters the company has been able to “save 60% of eyes” in patients who otherwise faced eye removal, according to an April report. Reuters
The trade isn’t all one-direction. IDEAYA said the overall-survival numbers from OptimUM-02 aren’t mature yet, and a May 5 SEC filing showed $156.6 million of stock still available to sell under an at-the-market deal, which lets the company push more shares out and can dilute existing holders.
IDEAYA said it had $972.9 million in cash, cash equivalents and marketable securities at the end of March. The company kept its cash runway guidance into 2030. R&D spending climbed to $95.7 million for the first quarter, up from $86.6 million in the previous quarter.
IDEAYA is also on the investor circuit this week. CEO Yujiro Hata is set for a fireside chat June 3 at the Jefferies Global Healthcare Conference, then appears on a June 4 AI panel at the same event. The meetings land while the ASCO data cycle is going.
