IDEAYA Biosciences, Inc. (IDYA) · Nov 3, 2026 · Earnings
In line — EPS $(1.22) vs $(1.17) consensus; revenue $10.2M vs ~$7.0M consensus
IDEAYA’s Q3 earnings were mixed, but the bigger news was its darovasertib NDA filing and the closure of a troubled Phase 3 trial.
IDEAYA is moving from clinical-stage biotech toward a commercial transition centered on darovasertib, while building IDE849 into a second late-stage oncology asset. Before this filing, the darovasertib NDA was already expected in the second half of 2026 and the company had indicated the submission process was nearing completion.
| Q3 2026 | Q2 2026 | Consensus | |
|---|---|---|---|
| Collaboration revenue (Financial Results) | $10.2M | $8.9M | ~$7.0M |
| EPS (Condensed Statements of Operations) | $(1.22) | $(1.22) | $(1.17) |
| Cash and securities (Balance Sheet Data) | $1.151B | $1.24B | |
| R&D expense (Financial Results) | $121.6M | $108.7M | |
| Net loss (Condensed Statements of Operations) | $(125.7M) | $(112.5M) |
The central regulatory milestone is now complete, but it is more confirmation than surprise. IDEAYA submitted the darovasertib-plus-crizotinib NDA for metastatic uveal melanoma under the FDA’s expedited RTOR process. 〔0〕 The filing advances the lead program into review, but much of the direction was already anticipated, so the incremental news is execution rather than a rewritten story.
The meaningful negative is the abandonment of OptimUM-010, not a reported efficacy failure. IDEAYA cited site activation and enrollment challenges and expects to save $100 million-$125 million by closing the Phase 3 primary-uveal-melanoma study. 〔1〕 Reallocating that capital toward IDE849 and IDE892 improves portfolio efficiency, but the closure also removes one development path and exposes execution friction in primary uveal melanoma.
IDE849 adds real pipeline breadth, but its validation still lies ahead. Partner-generated data included a 17.4-month median overall survival result in second-line SCLC and encouraging activity in other neuroendocrine cancers. IDEAYA now plans two Phase 3 trials, but the company’s own global Phase 1/2 readout is still expected only by late 2026 or early 2027, so this strengthens the pipeline without yet removing substantial clinical risk.
The quarter itself was mixed rather than a clean earnings beat. Published expectations were roughly $(1.17) of EPS and $7.0 million of revenue; IDEAYA delivered higher collaboration revenue but a slightly deeper per-share loss. R&D and G&A spending rose as the company prepared for development and commercialization, while cash declined to $1.15 billion; importantly, management left its runway guidance into 2030 unchanged.
Bottom line: The filing modestly improves IDEAYA’s story by converting its lead program into an FDA review asset and adding momentum behind IDE849, but the OptimUM-010 closure keeps this from being a clean advance. It is a strategically constructive quarter with a notable execution blemish, not a wholesale change in the company’s outlook.
R&D Day, November 16, 2026
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