Joshua Bleharski
About Joshua Bleharski
Joshua Bleharski, Ph.D., age 50, was appointed Chief Financial Officer (CFO) of IDEAYA, effective early May 2025, and named Principal Financial Officer on June 26, 2025 . He holds a B.S. in Biology (Duke), a Ph.D. in Immunology (UCLA), and an MBA (UC Berkeley Haas), with ~17 years advising biopharma clients at J.P. Morgan, most recently as Managing Director and Global Co-Head of Biopharma . Company performance during his early tenure included Q1 2025 cash and securities of ~$1.05B with runway guidance into 2029 , and Q3 2025 collaboration revenue of $207.834M with net income of $119.244M following an ex-U.S. darovasertib deal .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| J.P. Morgan (Healthcare Investment Banking) | Managing Director & Global Co-Head of Biopharma | 2008–2025 | Advised on financing and strategic transactions representing >$65B for biotech companies |
| Private Biotech (San Diego) | Senior Staff Scientist | N/A | Early scientific experience supporting biotechnology R&D |
| La Jolla Institute for Allergy & Immunology; UCLA School of Medicine | Post-doctoral fellow (Immunology) | N/A | Academic research credentials in immunology |
External Roles
- No public company directorships or board committee roles disclosed for Bleharski as of his appointment .
Fixed Compensation
| Component | Status |
|---|---|
| Base salary | Compensation terms were expected to be approved later and disclosed by amendment; not disclosed at time of appointment |
| Target annual bonus % | Not disclosed |
| Actual annual bonus paid | Not disclosed |
| Perquisites | Not disclosed (company executives generally receive limited perquisites; see program detail in proxies, but no Bleharski-specific disclosure) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| CFO-specific 2025 plan | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Company framework (NEOs, 2024) | Corporate objectives 70%; Individual 30% | Difficult targets across clinical, preclinical, and corporate development | Corporate achieved 100%; individual assessments 100% | Paid at target based on above | Stock options typically vest 25% at 1-year, then 1/48 monthly (company practice) |
Note: The 2024 NEO framework is included to illustrate IDEAYA’s pay-for-performance design; Bleharski’s specific metrics and targets were not disclosed at appointment .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Total beneficial ownership (shares; % outstanding) | Not listed in the March 31, 2025 beneficial ownership table; no Bleharski-specific ownership disclosed |
| Vested vs. unvested breakdown | Not disclosed |
| Options (exercisable vs. unexercisable; in-the-money value) | Not disclosed |
| Shares pledged as collateral | Company policy prohibits pledging and hedging by officers/directors (alignment-positive) |
| Clawback policy | Company adopted a Policy for Recovery of Erroneously Awarded Compensation (Dodd-Frank compliant) |
Employment Terms
| Provision | IDEAYA NEO Policy (as disclosed) | Applies to Bleharski? |
|---|---|---|
| Severance (no CIC) | CEO: 1x base + 12 months health; Others: 0.75x base + 9 months health | Bleharski-specific agreement not disclosed |
| Severance (within CIC period) | CEO: 1.5x base + target bonus + 18 months health + full equity acceleration; Others: 1x base + target bonus + 12 months health + full equity acceleration | Bleharski-specific agreement not disclosed |
| Definitions | “Cause,” “Good Reason,” and “Change in Control” defined in proxy | N/A |
Implication: As CFO and Section 16 officer, Bleharski would typically have executive employment and equity arrangements; however, the company explicitly noted his compensation terms would be approved later and disclosed by amendment .
Performance & Track Record
| Metric | Q1 2025 | Q3 2025 |
|---|---|---|
| Cash, cash equivalents and marketable securities ($000) | $1,051,173 | $1,136,854 |
| Collaboration revenue ($000) | $0 | $207,834 |
| Net income (loss) ($000) | $(72,178) | $119,244 |
| Runway guidance | Into 2029 | Reiterated via business updates |
- Corporate developments in 2025 referenced in earnings materials included breakthrough therapy designation for darovasertib, IND clearance and Phase 1 initiations (e.g., IDE849), and multiple pipeline milestones .
Compensation Committee Analysis
- Peer group methodology updated for 2024, focusing on pre-commercial biopharma oncology peers ($0.5–$5B market cap; 40–400 employees), used for competitive positioning (25th/50th/75th percentiles) .
- Say-on-Pay support was ~91% for 2024, indicating positive shareholder feedback on pay practices .
Risk Indicators & Red Flags
- Hedging/pledging prohibited for officers/directors (reduces misalignment risk) .
- Clawback policy in place (recoupment on restatement) .
- As of the 2025 proxy, Section 16 reporting compliance affirmed for 2024 officers/directors; Bleharski’s appointment occurred in 2025, with compensation to be disclosed subsequently .
Investment Implications
- Alignment appears favorable given anti-hedging/pledging rules and clawback policy; however, the absence of disclosed CFO compensation terms limits visibility into pay-for-performance alignment and severance/CoC economics specific to Bleharski .
- Background in capital markets (> $65B advised) suggests strong capability for financing and BD execution during a period where IDEAYA expanded its balance sheet and reported significant collaboration revenue; this may be supportive for capital allocation and partnership strategy .
- Near-term watch items: (1) amended 8-K or proxy supplement detailing Bleharski’s base, bonus targets, and equity grants; (2) any Form 4 filings indicating initial equity grants or trading; (3) confirmation of CFO-specific severance and change-in-control terms to assess retention risk and potential accelerated vesting triggers .