12 NASDAQ Stocks with Biggest Upside Potential According to Analysts

5. Ideaya Biosciences Inc. (NASDAQ:IDYA)

Average Upside Potential as of November 21: 118.80%

Ideaya Biosciences Inc. (NASDAQ:IDYA) is a clinical-stage synthetic lethality-focused precision medicine oncology company committed to discovering and developing targeted therapeutics for patient populations selected using DNA sequencing and other molecular diagnostics. Its lead product includes  IDE397, aimed at solid tumors with certain genetic characteristics.

The company recently announced positive interim Phase 1 expansion data for IDE397, a potential first-in-class MAT2A inhibitor, in MTAP-deletion urothelial cancer (UC) and non-small cell lung cancer (NSCLC) patients. The data, presented at the EORTC-NCI-AACR Symposium (ENA 2024), demonstrated a 33% overall response rate by RECIST 1.1, including one complete response and eight partial responses. The drug was well-tolerated, with no drug-related serious adverse events.

It is advancing IDE397 as a monotherapy and in combination with other therapies, including Trodelvy, in MTAP-deletion solid tumors. The company believes that IDE397 has the potential to address the significant unmet needs of these patient populations.

The recent positive clinical data for IDE397 highlights the company’s potential to address significant unmet medical needs in oncology. While Ideaya Biosciences Inc. (NASDAQ:IDYA) is still in its early stages and faces financial challenges, its innovative approach and strong pipeline position it for long-term growth and value creation for shareholders.