Ideaya Biosciences Intrinsic Value – IDEAYA BIOSCIENCES Reports Q2 Earnings Results for FY2023 as of June 30 2023
August 13, 2023
🌥️Earnings Overview
On August 10, 2023, IDEAYA BIOSCIENCES ($NASDAQ:IDYA) reported their financial results for the second quarter of FY2023, ending on June 30, 2023. Total revenue for the quarter was USD 3.5 million, a 39.5% drop compared to the same period in the prior year. The net income was -27.9 million, a decrease from -22.1 million in the previous year.
Market Price
On Thursday, IDEAYA BIOSCIENCES reported their financial results for the second quarter of the fiscal year 2023 ending June 30, 2023. The company had seen stock growth of 2.8% from the prior closing price of $24.8, opening at $24.6 and closing at $25.5. Overall, these results show a positive trend for IDEAYA BIOSCIENCES and these results should bode well for the company’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ideaya Biosciences. More…
| Total Revenues | Net Income | Net Margin |
| 45.15 | -76.31 | -164.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ideaya Biosciences. More…
| Operations | Investing | Financing |
| -95.37 | -33.4 | 97.17 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ideaya Biosciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 527.56 | 527.56 | 5.83 |
Key Ratios Snapshot
Some of the financial key ratios for Ideaya Biosciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -187.8% |
| FCF Margin | ROE | ROA |
| -218.1% | -15.9% | -10.0% |
Analysis – Ideaya Biosciences Intrinsic Value
At GoodWhale, we recently conducted an analysis of IDEAYA BIOSCIENCES‘s wellbeing. Through our proprietary Valuation Line, we found the intrinsic value of IDEAYA BIOSCIENCES share to be around $16.7. However, we found that IDEAYA BIOSCIENCES stock is currently traded at $25.5, an amount that is overvalued by 53.1%. This indicates that IDEAYA BIOSCIENCES may not be a wise investment at this time. More…
Peers
The company uses its proprietary Synthetic Lethality platform to identify and develop targeted cancer therapeutics. IDEAYA Biosciences Inc’s competitors include Kronos Bio Inc, Cogent Biosciences Inc, and Chinook Therapeutics Inc.
– Kronos Bio Inc ($NASDAQ:KRON)
Kronos Bio Inc is a clinical stage biopharmaceutical company focused on the discovery and development of novel cancer therapies. The company’s lead product candidate, entinostat, is an oral small molecule inhibitor of histone deacetylase (HDAC) enzymes being developed for the treatment of solid tumors and blood cancers. Kronos Bio Inc has a market cap of 141.92M as of 2022, a Return on Equity of -33.99%. The company’s products are still in development and have yet to be approved by the FDA.
– Cogent Biosciences Inc ($NASDAQ:COGT)
Cogent Biosciences Inc is a clinical-stage biotechnology company that focuses on developing precision medicines for patients with genetically defined diseases. The company’s lead product candidate, COG-102, is a first-in-class, orally-available, small molecule precision medicine for the treatment of genetic disorders caused by mutations in the JAK1 gene. COG-102 is currently being evaluated in a Phase 1/2 clinical trial in patients with JAK1-dependent myeloproliferative neoplasms.
Cogent Biosciences Inc has a market cap of 768.71M as of 2022 and a Return on Equity of -27.78%. The company’s lead product candidate, COG-102, is a first-in-class, orally-available, small molecule precision medicine for the treatment of genetic disorders caused by mutations in the JAK1 gene.
– Chinook Therapeutics Inc ($NASDAQ:KDNY)
Chinook Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing precision medicines for serious renal diseases. The company’s lead product candidate is zilretta, an investigational extended-release formulation of triamcinolone acetonide, which is in Phase III clinical development for the treatment of osteoarthritis pain. Chinook is also developing CK-107, a novel precision medicine for the treatment of autosomal dominant polycystic kidney disease (ADPKD), with Phase I data expected in 2020.
Chinook’s market cap as of 2022 is 1.42B and its ROE is -11.14%. The company’s focus on precision medicines for serious renal diseases gives it a strong potential market in the future. However, its current ROE indicates that it is not yet profitable.
Summary
Ideaya Biosciences has reported its earnings results for the second quarter of FY2023. Total revenue for the quarter was USD 3.5 million, a decrease of 39.5% from the same period last year. Net income was reported as a loss of USD -27.9 million, lower than the prior year’s loss of -22.1 million.
This is a particularly concerning result for investors, as the company has experienced a substantial decrease in revenue and profits year over year. Investors may wish to reassess their investment in the company given this result, and consider any potential future performance to make an informed decision.
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