IDEAYA Biosciences rises as early-stage cancer trial starts

Shares of biotech firm IDEAYA Biosciences IDYA.O rise 1.3% to $33.12 premarket

Co says it enrolled the first patient in an early-stage trial of IDE574, an experimental pill for solid tumors, or cancers that form lumps in organs such as the breast, lung, prostate and colon

Drug blocks two proteins, KAT6 and KAT7, which help cancer cells survive; lab studies showed longer-lasting tumor growth slowdown than drugs targeting one protein alone - IDYA

Early-stage study is testing safety and how the body processes the drug when used alone, co says

Adds it will study IDE574 in some breast cancer patients who stop responding to hormone treatments due to genetic changes

Says it may also test the drug with other treatments from its own pipeline

Co expects to share more data at a cancer research meeting later this year

As of last close, stock down ~5% YTD