IDYAIDEAYA Biosciences, Inc.

Pharmaceutical Preparations

Revenue: $219M; 3024% YoY
Operating margin: -72.8%; 98% YoY
EBITDA: −$157M; 52% YoY
Market cap: $3.1B
Employees: 145; $2M revenue each
Net debt / EBITDA: —
AI in 10-K: 1.0; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 2 of 7

TSR below peersNo
0 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$6M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
21% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentYes
78% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$2M · 85th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.0 per 10K words · 34th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$3.1B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$280K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$28M	$51M	$23M	$7M	$219M	3024%
Operating income	−$50M	−$63M	−$134M	−$327M	−$159M	51%
Net income	−$50M	−$59M	−$113M	−$274M	−$114M	59%
Operating cash flow	−$56M	−$87M	−$115M	−$248M	−$71M	71%
Capex	$3M	$3M	$2M	$4M	$2M	39%
Stock-based comp	$8M	$12M	$18M	$35M	$46M	33%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Aug 11, 2021	5AM Ventures IV, L.P.	SC 13D/A	4.1%	Passive
Dec 15, 2020	5AM Ventures IV, L.P.	SC 13D/A	5.1%	Passive
Nov 16, 2020	5AM Ventures IV, L.P.	SC 13D/A	7.5%	Passive
Jun 10, 2019	5AM Ventures IV, L.P.	SC 13D	16.7%	Passive

Insider trading

Open-market buys, 12 mo: $2M · 1
Open-market sells, 12 mo: $1M · 3
Net: $280K

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$10M	$16M	247	125
FY2024	$17M	$6M	184	93
FY2023	$6M	$16M	254	94
FY2022	$3M	$2M	130	90
FY2021	$4M	$7M	169	100