Ideaya rises as FDA clears trial for experimental cancer drug

Shares of California-based drug developer Ideaya Biosciences IDYA.O rise 3.3% to $36.80 premarket

Co says it has received clearance from U.S. FDA to begin its first human trial on its new experimental cancer drug, IDE034, which is designed to target several common types of solid tumors

Drug targets B7H3 and PTK7 proteins, often found together in lung, colorectal and head & neck cancers - IDYA

Co says these proteins are present in up to 46% of colorectal cancers, 30% of lung cancers, and 27% of head and neck cancers

In animal studies, IDE034 showed strong tumor-fighting effects, both on its own and when combined with co's another drug, IDE161 - IDYA

Co to begin enrolling patients in Q1 2026; more data expected at H1 2026 medical meeting

Up to last close, stock up ~39% YTD