0001193125-26-054533
SEC filingIDEAYA Biosciences, Inc. reported a strong financial position for the fiscal year ended December 31, 2025, characterized by substantial collaboration revenue and a robust balance sheet. The company generated $218.7 million in collaboration revenue, while incurring $378.0 million in total operating expenses, driven primarily by $314.7 million in research and development investments. This resulted in a net loss of $113.7 million, or $1.00 per basic and diluted share, an improvement facilitated by $45.6 million in interest and other income. The company maintains a highly liquid position with $1.11 billion in total assets, including $112.8 million in cash and $936.9 million in marketable securities. Stockholders' equity stands at $1.02 billion. Operating cash outflow was limited to $71.1 million, supplemented by $70.0 million in cash provided by investing activities, reflecting a sustainable financial runway for continued clinical development.
For the fiscal year ended December 31, 2025, IDEAYA Biosciences reported total collaboration revenue of $218.7 million. Operating expenses totaled $378.0 million, comprised of $314.7 million in research and development costs and $63.3 million in general and administrative expenses. Consequently, the company recognized a loss from operations of $159.3 million. After accounting for $45.6 million in interest income and other income, net, the net loss for the year was $113.7 million. This compares to a comprehensive loss of $112.2 million. The basic and diluted net loss per common share was $1.00, based on a weighted-average of 88.5 million shares outstanding.
The company's revenue for the period consisted entirely of $218.7 million in collaboration revenue. The filing does not provide a specific segment breakdown or geographic mix for this revenue. As a clinical-stage biotechnology company, revenue is typically derived from strategic collaborations and licensing agreements. The absence of product revenue indicates the company's pipeline candidates remain in development. The specific drivers of the collaboration revenue are not detailed in the provided financial statements, but the figure represents the total recognized income from partners for the fiscal year.
IDEAYA Biosciences remains unprofitable as it invests heavily in its clinical pipeline. The operating margin for the fiscal year was -72.9%, derived from the $159.3 million operating loss against $218.7 million in revenue. There is no cost of revenue disclosed, implying the collaboration revenue may be recognized under gross margin neutral or specific accounting standards for collaborations. The company effectively offset a portion of its operating losses through strong interest income of $45.6 million, generated from its substantial portfolio of marketable securities. Stock-based compensation of $46.1 million represented a significant non-cash component of operating expenses.
The company maintains a fortress balance sheet with total assets of $1.11 billion. Liquidity is strong, consisting of $112.8 million in cash and cash equivalents, $526.6 million in short-term marketable securities, and $410.3 million in long-term marketable securities, totaling over $1.0 billion in liquid assets. Net cash used in operating activities was $71.1 million. Investing activities provided $70.0 million in cash, primarily due to $680.2 million in maturities of marketable securities offset by $607.9 million in purchases. Financing activities contributed $29.8 million, largely from at-the-market offering proceeds. Free cash flow, estimated as operating cash flow minus capital expenditures ($2.4 million), was approximately -$73.5 million.
The filing does not contain specific forward-looking financial guidance or management targets in the provided text. However, the company's strategic priorities are implied by its allocation of capital: the $314.7 million investment in R&D underscores a focus on advancing clinical programs. With over $1 billion in cash and securities and a controlled operating cash burn of $71.1 million, the company possesses a substantial financial runway to execute its clinical development strategy without immediate financing pressure. Risk factors are standard for a clinical-stage biotech, centered on clinical trial outcomes and regulatory approvals.