What drove IDYA's unexpected Q4 performance?

IDEAYA Biosciences' (IDYA) unexpected Q4 performance, as indicated by the revenue surprise of $2.46 million, can be attributed to several key factors:

1. **Revenue Surprise**: The most obvious indicator of IDYA's unexpected performance is the revenue surprise of $2.46 million. This suggests that the company's actual revenue exceeded market expectations.

|code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|IDYA|IDYA.O|IDEAYA Biosciences|2024 Q1|-4450000||185|
|IDYA|IDYA.O|IDEAYA Biosciences|2024 Q2|-4860000||185|
|IDYA|IDYA.O|IDEAYA Biosciences|2024 Q3|-3750000||185|
|IDYA|IDYA.O|IDEAYA Biosciences|2024 Q4|2460000|7000000|185|

2. **Business Development**: IDEAYA's strategic initiatives, such as the proposed public offering of up to $200 million in common stock, indicate a potential boost in capital and a strategic move to strengthen its financial position. This could have contributed to the unexpected revenue.
3. **Clinical Progress**: The company's ongoing clinical progress, as highlighted in their Q3 2024 financial and clinical progress report, suggests that their research and development efforts are fruitful, which could have led to increased revenue from collaborations, licensing, or product sales related to their clinical advancements.
4. **Market Sentiment**: The consensus rating of "Buy" from research firms, along with increased analyst ratings and target price adjustments, reflects positive market sentiment. This optimism could have influenced investor behavior, leading to increased investment and potentially driving revenue through stock sales or related activities.

In conclusion, IDEAYA Biosciences' unexpected Q4 performance is likely a result of a combination of factors including revenue surprise, business development, clinical progress, and positive market sentiment. These elements, either directly or indirectly, contribute to the company's financial outcomes.