Ideaya stock slashed af­ter GSK punts an op­tion

Af­ter two years, GSK is out on a part­nered pro­gram with Ideaya Bio­sciences — and in­vestors are not pleased.

The syn­thet­ic lethal­i­ty-fo­cused on­col­o­gy play­er re­port­ed ear­ly Mon­day in its Q2 earn­ings that GSK de­cid­ed not to use its ex­clu­sive op­tion to fur­ther de­vel­op and com­mer­cial­ize Ideaya’s drug can­di­date tar­get­ing MAT2A, al­so known as me­thio­n­ine adeno­syl­trans­ferase 2a. The de­vel­op­ment comes af­ter Ideaya sent a pack­age of pre­clin­i­cal and Phase I clin­i­cal da­ta on the com­pound, IDE397, to the Big Phar­ma — which in­clud­ed safe­ty and tol­er­a­bil­i­ty da­ta, along with phar­ma­co­ki­net­ic and phar­ma­co­dy­nam­ic da­ta.

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