IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company specializing in the discovery and development of targeted therapeutics, has announced that the Compensation Committee of IDEAYA’s Board of Directors granted non-qualified stock options to a newly hired employee on September 28, 2023.
These stock options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan (2023 Inducement Plan). The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) and are considered inducements to attract individuals entering into employment with IDEAYA who were not previously employees or were previously non-employed by the company.
Key details of the stock options grant:
- Number of shares: 17,800 shares of IDEAYA’s common stock.
- Exercise price: $26.59 per share, which matches the closing price of IDEAYA’s common stock on The Nasdaq Global Select Market on the grant date.
- Term: 10-year term.
- Vesting: The stock options will vest over a four-year period, with 25% of the options vesting on the first anniversary of the vesting commencement date, and the remaining 75% vesting in equal monthly installments over the three years following the initial vesting date. Continued service to IDEAYA is required for vesting.
This inducement grant aligns with IDEAYA’s efforts to attract and retain talented individuals who can contribute to the company’s mission in the field of precision medicine oncology.
About IDEAYA Biosciences
IDEAYA Biosciences, Inc. is a precision medicine oncology company that is dedicated to advancing the discovery and development of targeted therapeutics for specific patient populations selected using molecular diagnostics.
The company’s approach is characterized by its ability to identify and validate translational biomarkers in conjunction with drug discovery efforts, allowing for the precise selection of patient populations that are most likely to benefit from its targeted therapies.
Key aspects of IDEAYA’s approach and focus include:
- Translational Biomarkers: IDEAYA places a strong emphasis on identifying and validating translational biomarkers. These biomarkers play a crucial role in tailoring therapies to individual patients by providing insights into how specific treatments will interact with a patient’s unique molecular profile.
- Patient Selection: Through its molecular diagnostics capabilities, IDEAYA aims to select patient populations with the highest likelihood of responding positively to its targeted therapies. This approach enhances the effectiveness of treatments and reduces the risk of adverse effects in non-responsive patients.
- Synthetic Lethality: IDEAYA is actively exploring the field of synthetic lethality as an emerging class of precision medicine targets. Synthetic lethality involves identifying genetic interactions that render cancer cells vulnerable to specific treatments while sparing normal cells. This approach holds great promise for developing innovative cancer therapies.
IDEAYA’s commitment to precision medicine, biomarker-driven research, and the exploration of synthetic lethality positions the company at the forefront of oncology research and drug discovery. By tailoring therapies to the specific needs of individual patients, IDEAYA strives to make a significant impact in the field of cancer treatment.