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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