Recent News
On April 13th IDEAYA announced positive topline results from the Phase 2/3 OptimUM-02 trial of darovasertib in metastatic uveal melanoma; the company scheduled a detailed presentation and follow-up at major medical meetings. On April 6th IDEAYA reported first‑patient‑in for the Phase 1 dose‑escalation trial of IDE574, a KAT6/7 dual inhibitor for multiple solid tumors. On April 21st IDEAYA announced a late‑breaking oral presentation at ASCO 2026 to provide complete OptimUM‑02 data, and the company confirmed participation in investor conferences through late May.
Technical Analysis
ADX / DI+/DI-: ADX at 31.62 signals a strong trend environment; DI+ shows a peak & reversal while DI- shows a dip & reversal, both directional indicators read as bearish pressure despite trend strength, implying directional conflict around current price levels.
MACD: MACD at 1.72 with an increasing trend and the MACD line above the 0.97 signal line indicates bullish momentum and a buy-side tilt in short-term momentum.
MRO: MRO at 26.72 (positive) indicates price sits above the model target and, per the oscillator interpretation, a higher probability of a corrective move toward the target despite rising momentum.
RSI: RSI 56.2 and increasing shows momentum remains constructive but not overbought, supporting the possibility of additional short-term upside before a corrective pullback.
Price vs Moving Averages & Bands: Last close $37.27 trades above the 12‑day EMA ($34.31), 20‑day average ($32.93) and 200‑day average ($31.60), supporting a near‑term bullish bias; price sits just above the 1× upper Bollinger band ($36.78), suggesting short‑term stretch toward the upper volatility band with superTrend support near $33.19.
Volume & Volatility: Intraday volume (~1.59M) sits slightly below the 10‑day average (~1.70M) but above the 200‑day average (~1.11M); 42‑day and 52‑week volatility remain low (~3%), implying any directional move tied to clinical news may produce outsized price reaction relative to recent baseline volatility.
Fundamental Analysis
Profitability & Operations: Operating income stood at -$108,544,000 with an operating (EBIT) margin of -16.55%, reflecting continued investment ahead of commercialization; EBIT margin improved QoQ by +90.29% but remains negative year‑over‑year. Research and development expense totaled $95,726,000, driving the operating loss relative to revenue of $6,560,000.
Liquidity & Capital Structure: Cash and short‑term investments total $671,201,000 with cash of $157,522,000 and a cash ratio of 10.35 and current ratio of 10.74, indicating ample near‑term runway; total debt equals $28,600,000, keeping debt‑to‑assets low at 2.78% and debt‑to‑equity at 3.05%.
Growth & Returns: Reported revenue $6,560,000 produced YoY revenue growth of -94.77%; return on equity -10.51% and return on assets -9.21% remain negative but showed QoQ improvements (ROE QoQ +29.14%, ROA QoQ +26.89%).
Per‑share & Valuation Metrics: EPS actual -$1.11 versus estimate -$0.98 produced an EPS surprise of -13.27%. Price‑to‑book 2.98, price‑to‑sales 426.44, and enterprise value to revenue (EVR) 328.48 reflect valuation anchored to future pipeline potential; P/E and forward P/E remain negative (current P/E -28.69; forward P/E -39.44) given ongoing losses.
Peer Comparisons (where provided): The company’s EBIT margin of -16.55% sits below the industry peer mean of -1.10% and industry peer median of 0.23%; the current ratio of 10.74 exceeds the industry peer mean of 3.94; price‑to‑book at 2.98 falls below the industry peer mean of 7.56. These comparisons highlight relative strengths in liquidity and lower P/B versus the peer mean while profitability remains weaker than the industry peer mean and median.
Valuation Conclusion: The current valuation as determined by WMDST classifies the stock as under‑valued, supported by a large cash position and multiple clinical assets advancing through registrational or early development stages; negative operating margins, steep YoY revenue decline and persistent losses continue to weigh on traditional earnings multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-05 |
| NEXT REPORT DATE: | 2026-08-04 |
| CASH FLOW | Begin Period Cash Flow | $ 113.8 M |
| Operating Cash Flow | $ -75.17 M | |
| Capital Expenditures | $ -967.00 K | |
| Change In Working Capital | $ 8.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 45.0 M | |
| End Period Cash Flow | $ 158.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 6.6 M | |
| Forward Revenue | $ 1.3 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 1.1 M | |
| Depreciation and Amortization | $ 1.1 M | |
| Research and Development | $ 95.7 M | |
| Total Operating Expenses | $ 115.1 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -107.40 M | |
| EBIT | $ -108.54 M | |
| Operating Income | $ -108.54 M | |
| Interest Income | $ 10.0 M | |
| Interest Expense | — | |
| Net Interest Income | $ 10.0 M | |
| Income Before Tax | $ -98.54 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -98.54 M | |
| Net Income From Continuing Operations | $ -98.54 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.98 | |
| EPS Actual | $ -1.11 | |
| EPS Difference | $ -0.13 | |
| EPS Surprise | -13.265 % | |
| Forward EPS | $ -0.91 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.0 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 937.3 M | |
| Total Current Assets | $ 696.1 M | |
| Cash and Short-Term Investments | $ 671.2 M | |
| Cash | $ 157.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 1.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 20.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 64.8 M | |
| Net Debt | — | |
| Total Debt | $ 28.6 M | |
| Total Liabilities | $ 93.1 M | |
| EQUITY | ||
| Total Equity | $ 937.3 M | |
| Retained Earnings | $ -835.08 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 10.67 | |
| Shares Outstanding | 87.856 M | |
| Revenue Per-Share | $ 0.07 | |
| VALUATION | Market Capitalization | $ 2.8 B |
| Enterprise Value | $ 2.2 B | |
| Enterprise Multiple | -20.064 | |
| Enterprise Multiple QoQ | -18.789 % | |
| Enterprise Multiple YoY | 59.939 % | |
| Enterprise Multiple IPRWA | high: 75.51 median: 27.492 mean: 7.274 IDYA: -20.064 low: -128.217 |
|
| EV/R | 328.482 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.099 | |
| Asset To Liability | 11.069 | |
| Debt To Capital | 0.03 | |
| Debt To Assets | 0.028 | |
| Debt To Assets QoQ | 10.334 % | |
| Debt To Assets YoY | 17.677 % | |
| Debt To Assets IPRWA | high: 1.112 mean: 0.168 median: 0.032 IDYA: 0.028 low: 0.0 |
|
| Debt To Equity | 0.031 | |
| Debt To Equity QoQ | 11.799 % | |
| Debt To Equity YoY | 20.308 % | |
| Debt To Equity IPRWA | high: 1.864 mean: 0.194 median: 0.051 IDYA: 0.031 low: -1.172 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.985 | |
| Price To Book QoQ | 4.621 % | |
| Price To Book YoY | 78.657 % | |
| Price To Book IPRWA | high: 20.93 mean: 7.561 median: 5.613 IDYA: 2.985 low: -11.267 |
|
| Price To Earnings (P/E) | -28.686 | |
| Price To Earnings QoQ | -18.877 % | |
| Price To Earnings YoY | 20.386 % | |
| Price To Earnings IPRWA | high: 74.242 mean: -2.197 median: -14.301 IDYA: -28.686 low: -125.804 |
|
| PE/G Ratio | -1.586 | |
| Price To Sales (P/S) | 426.44 | |
| Price To Sales QoQ | 58.927 % | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | high: 864.732 IDYA: 426.44 mean: 63.484 median: 29.52 low: 0.192 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -39.445 | |
| Forward PE/G | -2.181 | |
| Forward P/S | 2067.912 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.372 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.006 | |
| Asset Turnover Ratio QoQ | -35.338 % | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | high: 0.403 mean: 0.103 median: 0.094 IDYA: 0.006 low: 0.0 |
|
| 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: 930.567 median: 373.655 mean: 219.314 IDYA: 0 low: -833.016 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.01 | |
| CapEx To Revenue | -0.147 | |
| CapEx To Depreciation | -0.846 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 937.3 M | |
| Net Invested Capital | $ 937.3 M | |
| Invested Capital | $ 937.3 M | |
| Net Tangible Assets | $ 937.3 M | |
| Net Working Capital | $ 631.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 10.353 | |
| Current Ratio | 10.737 | |
| Current Ratio QoQ | -5.282 % | |
| Current Ratio YoY | -22.875 % | |
| Current Ratio IPRWA | high: 32.587 IDYA: 10.737 mean: 3.937 median: 2.409 low: 0.016 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.266 | |
| Cost Of Debt | 71.803 % | |
| Interest Coverage Ratio | -4.33 | |
| Interest Coverage Ratio QoQ | 14.776 % | |
| Interest Coverage Ratio YoY | 28.623 % | |
| Interest Coverage Ratio IPRWA | high: 604.866 IDYA: -4.33 median: -14.877 mean: -78.107 low: -1789.522 |
|
| Operating Cash Flow Ratio | -1.454 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.119 % | |
| Revenue Growth | -94.767 % | |
| Revenue Growth QoQ | -0.0 % | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | high: 242.212 % median: -7.18 % mean: -9.919 % IDYA: -94.767 % low: -242.388 % |
|
| Earnings Growth | 18.085 % | |
| Earnings Growth QoQ | -110.596 % | |
| Earnings Growth YoY | -140.219 % | |
| Earnings Growth IPRWA | high: 215.789 % IDYA: 18.085 % median: -5.682 % mean: -13.644 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | -1654.634 % | |
| EBIT Margin QoQ | 90.291 % | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | high: 2524.194 % median: 23.412 % mean: -109.709 % IDYA: -1654.634 % low: -7259.515 % |
|
| Return On Sales (ROS) | -1654.634 % | |
| Return On Sales QoQ | 90.291 % | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | high: 100.302 % median: 20.658 % mean: -109.71 % IDYA: -1654.634 % low: -7394.476 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -76.14 M | |
| Free Cash Flow Yield | -2.722 % | |
| Free Cash Flow Yield QoQ | -12.532 % | |
| Free Cash Flow Yield YoY | -24.494 % | |
| Free Cash Flow Yield IPRWA | high: 11.709 % median: 0.11 % mean: -0.511 % IDYA: -2.722 % low: -45.34 % |
|
| Free Cash Growth | -16.175 % | |
| Free Cash Growth QoQ | -90.13 % | |
| Free Cash Growth YoY | -67.495 % | |
| Free Cash Growth IPRWA | high: 253.163 % mean: 4.314 % IDYA: -16.175 % median: -16.303 % low: -249.577 % |
|
| Free Cash To Net Income | 0.773 | |
| Cash Flow Margin | -1436.646 % | |
| Cash Flow To Earnings | 0.956 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -9.211 % | |
| Return On Assets QoQ | 26.891 % | |
| Return On Assets YoY | 43.496 % | |
| Return On Assets IPRWA | high: 38.074 % median: -8.157 % IDYA: -9.211 % mean: -13.764 % low: -67.817 % |
|
| Return On Capital Employed (ROCE) | -11.242 % | |
| Return On Equity (ROE) | -0.105 | |
| Return On Equity QoQ | 29.136 % | |
| Return On Equity YoY | 50.789 % | |
| Return On Equity IPRWA | high: 0.797 IDYA: -0.105 median: -0.115 mean: -0.344 low: -1.265 |
|
| DuPont ROE | -10.051 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |