GSK terminates collaboration agreement with IDEAYA Biosciences

GlaxoSmithKline notified IDEAYA Biosciences Inc. (NASDAQ: IDYA) on December 4, 2024, of its decision to terminate their collaboration, option and license agreement originally signed on June 15, 2020.

The termination will become effective 90 days after GSK's written notice. During this transition period, GSK will transfer two clinical programs to IDEAYA: the Werner Helicase (IDE275) and Pol Theta (IDE705) programs, according to the agreement's provisions.

IDEAYA stated it will evaluate strategic options for both programs in 2025. The company indicated the development does not alter its cash runway projection extending into 2030.

The information was disclosed in a company statement based on the collaboration agreement terms.

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