Monitor the pace of ATM sales and any use-of-proceeds announcements. The offering may create near-term downward pressure due to dilution, but the strong cash position and positive clinical data provide a floor. Watch for potential acceleration of sales if the stock remains elevated post-earnings.
Price Chart
Executive Summary
IDEAYA Biosciences filed a prospectus supplement on May 5, 2026, for an at-the-market (ATM) offering of up to $156.6 million in common stock, the remaining portion of a $350 million facility established in January 2024. The filing coincides with the same day's positive earnings release and clinical trial results. The offering is dilutive (~6.3% of market cap) but the company's strong cash position ($973M) and positive pipeline momentum may offset some negative sentiment.
Key Facts
- Up to $156,552,996.81 in common stock remains available under the ATM facility (already sold $193,447,003.19)
- Stock price as of May 1, 2026: $28.19 per share
- Net tangible book value per share as of March 31, 2026: $10.67; dilution of $16.52 per share to new investors
- Company had ~$973 million in cash, cash equivalents, and marketable securities as of March 31, 2026
- Commission to Jefferies: up to 3.0% of gross proceeds
- Positive Phase 2/3 OptimUM-02 trial results announced on April 13, 2026, met primary endpoint
- Proceeds for general corporate purposes, including clinical development and potential commercialization
Financial Impact
Dilution of approximately $16.52 per share on the assumed $28.19 offering price; offering size ~6.3% of market cap
Risk Factors
- Continued dilution from ongoing ATM sales
- Potential overhang from future equity issuances
- Execution risk in commercialization with raised capital
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-206788 |
| Document: d30692dexfilingfees.htm | 0001193125-26-206788 |
| Document: 0001193125-26-206788-index-headers.html | 0001193125-26-206788 |
| Document: 0001193125-26-206788-index.html | 0001193125-26-206788 |
| Document: 0001193125-26-206788.txt | 0001193125-26-206788 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $36.11 $39.95 | ▲ +10.63% | ▲ +11.87% | $37.05 (+2.60%) |
Jun 23, 2026 14w ago | 8-K | $36.28 $35.00 | ▼ −3.53% | ▼ −5.46% | $37.05 (+2.12%) |
Jun 10, 2026 16w ago | 8-K | $28.84 $37.28 | ▼ −29.26% | ▼ −27.37% | $37.05 (−28.47%) |
Jun 9, 2026 16w ago | 424B5 | $27.60 $37.28 | ▼ −35.07% | ▼ −31.45% | $37.05 (−34.24%) |
Jun 8, 2026 16w ago | 424B5 | $28.07 $40.51 | ▼ −44.32% | ▼ −42.87% | $37.05 (−31.99%) |
Jun 3, 2026 17w ago | 8-K | $28.40 $37.65 | ▲ +32.57% | ▲ +33.57% | $37.05 (+30.46%) |
May 5, 2026 21w ago | 8-K | $28.74 $28.40 | ▼ −1.18% | ▼ −3.96% | $37.05 (+28.91%) |
May 5, 2026 21w ago | 424B5 | $28.74 $28.40 | ▼ −1.18% | ▼ −3.96% | $37.05 (+28.91%) |
Apr 13, 2026 24w ago | 8-K | $32.82 $28.13 | ▼ −14.29% | ▼ −22.02% | $37.05 (+12.89%) |
Apr 9, 2026 25w ago | 8-K | $31.00 $28.74 | ▼ −7.29% | ▼ −14.86% | $37.05 (+19.52%) |
US Market Status
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