Ideaya Biosciences initiated with an Outperform at RBC Capital
The Fly

Ideaya Biosciences initiated with an Outperform at RBC Capital

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.

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