Latham & Watkins Advises IDEAYA Biosciences in Public Offering

IDEAYA Biosciences, Inc. (Nasdaq: IDYA) has announced the pricing of an underwritten public offering of common stock and pre-funded warrants. IDEAYA is selling 7,228,572 shares of common stock and pre-funded warrants to purchase 285,715 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of US$35 per share, before underwriting discounts and commissions, and the pre-funded warrants are being sold at a public offering price of US$34.9999 per pre-funded warrant. The exercise price of the pre-funded warrants is US$0.0001 per share. In addition, IDEAYA has granted the underwriters a 30-day option to purchase up to an additional 1,127,142 shares of its common stock at the public offering price per share, before underwriting discounts and commissions. The aggregate gross proceeds to IDEAYA from this offering are expected to be approximately US$263 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any pre-funded warrants. The offering is expected to close on or about July 11, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP advised IDEAYA Biosciences in the offering, with a capital markets team led by Bay Area partners Mark Roeder and John Williams, and associate Eric Hanzich, with associates Caitlin Nguyen, AJ Blair, and Lexi Zintel. Advice was also provided on intellectual property and technology transactions matters by Bay Area partner Chris Hazuka; on employee benefits and compensation matters by Bay Area partner James Metz; on tax matters by Bay Area partner Grace Lee, with associate Rasha Suleiman; on FDA Regulatory matters by Washington, D.C. partner John Manthei, Bay Area partner Betty Pang, and San Diego counsel Amy Speros.