Recent News
Jan. 11, 2026: At the J.P. Morgan conference Ideaya outlined 2026 objectives, including initiation of the OptimUM-11 adjuvant trial in collaboration with Servier in Q2 2026. Feb. 17, 2026: the company issued a corporate update confirming the return of two programs from GlaxoSmithKline and reiterated a multi-year cash runway. March 9, 2026: Ideaya announced first-patient-in for the Phase 1 IDE892 PRMT5 program and outlined MTAP/CDKN2A pipeline milestones. March 18, 2026: the company scheduled preclinical presentations for IDE034, IDE574 and IDE892 at AACR 2026.
Technical Analysis
ADX at 13.17 signals no clear trend; low trend strength suggests price action may remain range-bound absent a catalyst, tempering conviction around valuation-driven moves.
Directional indicators show DI+ dip-and-reversal and DI− peak-and-reversal; both patterns imply a developing bullish directional split as DI+ increases and DI− declines, which supports a near-term upward bias versus the current valuation.
MACD sits slightly below zero at −0.25 but shows a dip-and-reversal and has crossed just above its signal line (MACD signal −0.26); that combination indicates bullish momentum emergence despite the MACD’s negative absolute value.
MRO at 19.23 (positive and increasing) indicates the current price sits above the model target and therefore contains built-in potential for downside pressure if momentum stalls; the increasing MRO strengthens that potential.
RSI near neutral at 49.22 with a peak-and-reversal pattern points to a recent toping action that introduces short-term bearish friction to any rally, making near-term follow-through less certain.
Price structure shows mixed internals: close at $32.34 sits above the 200-day average ($29.53) and 20-day average ($32.24) but below the 50-day average ($32.77); the 12-day EMA exhibits a dip-and-reversal. This footprint supports guarded upside while indicating resistance around the 50-day average.
Bollinger bands remain narrow (upper ~ $33.44, lower ~ $31.04) and Ichimoku lines cluster near the current price, signaling low volatility and a consolidation regime that could resolve with any of the cited clinical or corporate catalysts.
Volume on the latest session (553,592) sits below 10/50/200-day averages, suggesting follow-through lacks conviction and that moves may require volume expansion to validate directional bias.
Fundamental Analysis
Revenue totaled $10.9M for the period ending 2025-12-31 with YoY revenue growth of −94.77% and QoQ change of −103.30%, reflecting a steep decline in reported collaboration or product-related income versus prior periods.
Operating metrics show an EBIT of −$94.6M and an EBIT margin of −8.70%, which compares unfavorably with the industry peer mean EBIT margin of −0.87%; the margin deterioration QoQ was −17.66 percentage points while YoY moved −0.58 percentage points.
EPS finished at −$0.94 versus an estimate of −$0.95, producing an EPS surprise of +1.05%.
R&D spend reached $86.6M, approximately 796% of total revenue, underscoring a development-stage cost base focused on pipeline progression rather than near-term commercial sales.
Liquidity and leverage present clear contrasts: cash and short-term investments total $639.4M and the company reports a cash ratio of 10.87 and current ratio of 11.34, while total debt stands at $27.9M (debt-to-assets ~2.52%). The corporate update and filings state this position supports a multi-year runway into 2030.
Profitability and returns remain negative: return on assets −7.26% and return on equity −8.14%; operating and free-cash-flow trends show negative operating cash flow (−$90.5M) and free cash flow (−$90.8M), with free-cash-flow yield at −3.11%.
Market multiples show a mixed picture: price-to-book ~2.85x (below the industry peer mean of ~5.22x), enterprise-value-to-revenue metrics and PS ratios read elevated (PS ~268.3x), and the WMDST valuation assessment classifies the stock as over-valued given the combination of current price, limited near-term revenue and material development spending.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-17 |
| NEXT REPORT DATE: | 2026-05-19 |
| CASH FLOW | Begin Period Cash Flow | $ 299.7 M |
| Operating Cash Flow | $ -90.50 M | |
| Capital Expenditures | $ -333.00 K | |
| Change In Working Capital | $ -18.69 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -185.89 M | |
| End Period Cash Flow | $ 113.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 10.9 M | |
| Forward Revenue | $ 2.4 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 1.2 M | |
| Depreciation and Amortization | $ 1.2 M | |
| Research and Development | $ 86.6 M | |
| Total Operating Expenses | $ 105.4 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -93.37 M | |
| EBIT | $ -94.57 M | |
| Operating Income | $ -94.57 M | |
| Interest Income | $ 11.3 M | |
| Interest Expense | — | |
| Net Interest Income | $ 11.3 M | |
| Income Before Tax | $ -83.27 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -83.27 M | |
| Net Income From Continuing Operations | $ -83.27 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.95 | |
| EPS Actual | $ -0.94 | |
| EPS Difference | $ 0.01 | |
| EPS Surprise | 1.053 % | |
| Forward EPS | $ -0.85 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.1 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.0 B | |
| Total Current Assets | $ 666.7 M | |
| Cash and Short-Term Investments | $ 639.4 M | |
| Cash | $ 112.8 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 1.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 17.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 58.8 M | |
| Net Debt | — | |
| Total Debt | $ 27.9 M | |
| Total Liabilities | $ 86.4 M | |
| EQUITY | ||
| Total Equity | $ 1.0 B | |
| Retained Earnings | $ -736.54 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 11.65 | |
| Shares Outstanding | 87.797 M | |
| Revenue Per-Share | $ 0.12 | |
| VALUATION | Market Capitalization | $ 2.9 B |
| Enterprise Value | $ 2.3 B | |
| Enterprise Multiple | -24.705 | |
| Enterprise Multiple QoQ | -268.575 % | |
| Enterprise Multiple YoY | 127.385 % | |
| Enterprise Multiple IPRWA | high: 79.485 median: 58.093 mean: 19.945 IDYA: -24.705 low: -114.076 |
|
| EV/R | 212.101 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.084 | |
| Asset To Liability | 12.841 | |
| Debt To Capital | 0.027 | |
| Debt To Assets | 0.025 | |
| Debt To Assets QoQ | 9.439 % | |
| Debt To Assets YoY | 47.566 % | |
| Debt To Assets IPRWA | high: 1.032 mean: 0.121 IDYA: 0.025 median: 0.003 low: 0.0 |
|
| Debt To Equity | 0.027 | |
| Debt To Equity QoQ | 9.379 % | |
| Debt To Equity YoY | 50.773 % | |
| Debt To Equity IPRWA | high: 1.588 mean: 0.137 IDYA: 0.027 median: 0.005 low: -0.957 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.853 | |
| Price To Book QoQ | 31.777 % | |
| Price To Book YoY | 36.34 % | |
| Price To Book IPRWA | high: 19.432 median: 6.164 mean: 5.221 IDYA: 2.853 low: -10.511 |
|
| Price To Earnings (P/E) | -35.361 | |
| Price To Earnings QoQ | -274.394 % | |
| Price To Earnings YoY | 105.651 % | |
| Price To Earnings IPRWA | high: 75.085 mean: -0.659 median: -16.183 IDYA: -35.361 low: -119.903 |
|
| PE/G Ratio | 0.207 | |
| Price To Sales (P/S) | 268.324 | |
| Price To Sales QoQ | 2258.847 % | |
| Price To Sales YoY | -15.249 % | |
| Price To Sales IPRWA | high: 773.807 IDYA: 268.324 mean: 48.514 median: 20.207 low: -75.758 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -38.388 | |
| Forward PE/G | 0.225 | |
| Forward P/S | 1222.354 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.975 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | -94.922 % | |
| Asset Turnover Ratio YoY | 60.135 % | |
| Asset Turnover Ratio IPRWA | high: 0.406 mean: 0.117 median: 0.109 IDYA: 0.009 low: -0.066 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 937.301 mean: 237.323 median: 192.562 IDYA: 0 low: -463.897 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.018 | |
| CapEx To Revenue | -0.031 | |
| CapEx To Depreciation | -0.278 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.0 B | |
| Net Invested Capital | $ 1.0 B | |
| Invested Capital | $ 1.0 B | |
| Net Tangible Assets | $ 1.0 B | |
| Net Working Capital | $ 607.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 10.871 | |
| Current Ratio | 11.336 | |
| Current Ratio QoQ | -8.893 % | |
| Current Ratio YoY | -24.279 % | |
| Current Ratio IPRWA | high: 27.397 IDYA: 11.336 mean: 3.901 median: 2.827 low: 0.027 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.299 | |
| Cost Of Debt | 71.803 % | |
| Interest Coverage Ratio | -3.773 | |
| Interest Coverage Ratio QoQ | -187.2 % | |
| Interest Coverage Ratio YoY | -34.389 % | |
| Interest Coverage Ratio IPRWA | high: 671.002 mean: 40.601 median: 3.11 IDYA: -3.773 low: -1571.333 |
|
| Operating Cash Flow Ratio | -1.41 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -6.397 % | |
| Revenue Growth | -94.767 % | |
| Revenue Growth QoQ | -103.303 % | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | high: 443.939 % mean: 13.329 % median: 2.844 % IDYA: -94.767 % low: -242.388 % |
|
| Earnings Growth | -170.677 % | |
| Earnings Growth QoQ | -32.038 % | |
| Earnings Growth YoY | -215.063 % | |
| Earnings Growth IPRWA | high: 178.788 % median: -14.286 % mean: -16.484 % IDYA: -170.677 % low: -202.0 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | -869.529 % | |
| EBIT Margin QoQ | -1766.339 % | |
| EBIT Margin YoY | -57.772 % | |
| EBIT Margin IPRWA | high: 3501.566 % median: 21.25 % mean: -86.639 % IDYA: -869.529 % low: -7602.597 % |
|
| Return On Sales (ROS) | -869.529 % | |
| Return On Sales QoQ | -1766.339 % | |
| Return On Sales YoY | -57.772 % | |
| Return On Sales IPRWA | high: 1116.376 % median: 27.297 % mean: -92.365 % IDYA: -869.529 % low: -7602.597 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -90.83 M | |
| Free Cash Flow Yield | -3.112 % | |
| Free Cash Flow Yield QoQ | -151.746 % | |
| Free Cash Flow Yield YoY | -43.817 % | |
| Free Cash Flow Yield IPRWA | high: 21.452 % median: 0.303 % mean: 0.169 % IDYA: -3.112 % low: -50.821 % |
|
| Free Cash Growth | -163.887 % | |
| Free Cash Growth QoQ | -49.601 % | |
| Free Cash Growth YoY | -211.457 % | |
| Free Cash Growth IPRWA | high: 177.21 % median: -24.462 % mean: -30.957 % IDYA: -163.887 % low: -197.482 % |
|
| Free Cash To Net Income | 1.091 | |
| Cash Flow Margin | -762.459 % | |
| Cash Flow To Earnings | 0.996 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -7.259 % | |
| Return On Assets QoQ | -167.765 % | |
| Return On Assets YoY | -34.159 % | |
| Return On Assets IPRWA | high: 33.814 % median: 1.099 % mean: -2.705 % IDYA: -7.259 % low: -59.608 % |
|
| Return On Capital Employed (ROCE) | -9.002 % | |
| Return On Equity (ROE) | -0.081 | |
| Return On Equity QoQ | -174.558 % | |
| Return On Equity YoY | -33.829 % | |
| Return On Equity IPRWA | high: 0.809 median: 0.039 mean: 0.001 IDYA: -0.081 low: -1.16 |
|
| DuPont ROE | -7.874 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |