Targeted cancer therapy developer IDEAYA Biosciences sets terms for $70 million IPO

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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.

The article Targeted cancer therapy developer IDEAYA Biosciences sets terms for $70 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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