Ideaya financials not impacted by GSK termination, says Mizuho

Mizuho analyst Graig Suvannavejh keeps an Outperform rating on Ideaya Biosciences (IDYA) after the company disclosed the termination of its partnership with GSK (GSK) for two early-stage pipeline programs. The partnership termination, which Ideaya said reflects GSK moving away from synthetic lethality, is “both a surprise and of course, a disappointment,” the analyst tells investors in a research note. However, Mizuho says both programs are early-stage and are not included in its model. The removal of future anticipated milestone payments from GSK has no significant impact on Ideaya’s financial prospects, it adds.