April 24 Quick Takes: Ideaya gains on uveal melanoma data

With new Phase II data providing a rationale to move forward, Ideaya Biosciences Inc. (NASDAQ:IDYA) said its interactions with FDA have resulted in a plan to start a Phase II/III study next half of small molecule PKC inhibitor darovasertib plus Xalkori crizotinib as a first-line treatment for HLA-A2-negative metastatic uveal melanoma. Ideaya pointed to the 45% objective response rate and progression-free survival of about seven months among 20 evaluable patients receiving first-line treatment in the Phase II trial. Ideaya was up $5.33 (36%) to $20.26 on Monday, adding about $258 million in market cap.

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) dipped with the report of a new safety signal from a second clinical program. The company is pausing enrollment in a Phase I study of BRD9 protein degrader FHD-609 to treat synovial sarcoma and SMACB1-deleted tumors after a patient in the second-highest dose cohort experienced a Grade 4 QT prolongation event. In August, suspected cases of fatal differentiation syndrome led to a full clinical hold of the company’s lead program, BRG1/BRM inhibitor FHD-286. Foghorn shares, which debuted at $16 in 2020, fell $0.53 to $6.19 on Monday...