RBC Capital analyst Gregory Renza initiated coverage of Ideaya Biosciences with an Outperform rating and $25 price target. The analyst views Ideaya’s precision medicine, synthetic lethality platform approach as a "disruptor" to the oncology treatment landscape. The company’s lead asset darovasertib is a protein kinase C inhibitor with encouraging early clinical data in a rare but lethal ocular malignancy, metastatic uveal melanoma, as single and combination therapy, the analyst tells investors in a research note. The firm estimates a potential $900M worldwide opportunity.
Published first on TheFly
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