SOUTH
SAN FRANCISCO, Calif., May 26, 2023
/PRNewswire/ -- IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a
precision medicine oncology company committed to the discovery and
development of targeted therapeutics, today announced that, on
May 25, 2023, the Compensation
Committee of IDEAYA's Board of Directors granted non-qualified
stock options to purchase an aggregate of 17,800 shares of the
Company's common stock to a newly hired employee. The stock options
were granted under the IDEAYA Biosciences, Inc. 2023 Employment
Inducement Incentive Award Plan (2023 Inducement Plan) as an
inducement material to such individual's entering into employment
with IDEAYA in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2023 Inducement Plan is used exclusively for the grant of
equity awards to individuals who were not previously employees of
IDEAYA, or following a bona fide period of non-employment, as an
inducement material to such individuals' entering into employment
with IDEAYA, pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $21.63 per share, which is equal to the closing
price of IDEAYA's common stock on The Nasdaq Global Select Market
on the date of grant. The stock options have a 10-year term and
will vest over four years, with 25% of the options vesting on the
first anniversary of the vesting commencement date and the
remaining 75% of the options vesting in equal monthly installments
over the three years thereafter. Vesting of the stock options is
subject to such employee's continued service to IDEAYA on each
vesting date.
About IDEAYA Biosciences
IDEAYA is a precision medicine oncology company committed to the
discovery and development of targeted therapeutics for patient
populations selected using molecular diagnostics. IDEAYA's
approach integrates capabilities in identifying and validating
translational biomarkers with drug discovery to select patient
populations most likely to benefit from its targeted
therapies. IDEAYA is applying its early research and drug
discovery capabilities to synthetic lethality – which represents an
emerging class of precision medicine targets.
Investor and Media Contact
IDEAYA Biosciences
Paul Stone
Chief Financial Officer
investor@ideayabio.com
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SOURCE IDEAYA Biosciences, Inc.