Why Ideaya Biosciences Shares Are Falling Sharply During Wednesday's After-Hours Session

Ideaya Biosciences Inc IDYA shares are trading lower by 10.07% to $11.25 during Wednesday's after-hours session. The company announced an $80 million common stock offering.

In addition, Ideaya says the company intends to grant the underwriters a 30-day option to purchase up to $12.0 million of shares of its common stock.

Ideaya says the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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According to data from Benzinga Pro, Ideaya Biosciences has a 52-week high of $27.71 and a 52-week low of $8.14.