IDEAYA Biosciences Inc. (NASDAQ: IDYA) completed its underwritten public offering of common stock and pre-funded warrants, raising approximately $345 million in gross proceeds before underwriting discounts and commissions.

The South San Francisco-based precision medicine oncology company sold 7,222,225 shares of common stock at $27.00 per share and pre-funded warrants to purchase 5,555,576 shares at $26.9999 per warrant. The underwriters exercised their full option to purchase an additional 1,666,669 shares of common stock.

J.P. Morgan, Jefferies, TD Cowen, UBS Investment Bank, and Cantor served as joint book-running managers for the offering. Wedbush PacGrow acted as lead manager.

The offering was conducted under an automatically effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC.

IDEAYA focuses on discovering and developing precision oncology therapies through small-molecule drug discovery, structural biology, and bioinformatics. The company's pipeline centers on synthetic lethality and antibody-drug conjugates for solid tumor indications.