Relay Therapeutics, Inc. Stock Price, News & Analysis

Relay Therapeutics (RLAY) and Elevar Therapeutics have announced an exclusive global licensing agreement for lirafugratinib, a potential best-in-class FGFR2 inhibitor for treating FGFR2-driven cholangiocarcinoma and other solid tumors. Under the agreement, Elevar receives worldwide development and commercialization rights, while Relay can earn up to $500 million in payments, including $75 million in upfront and regulatory milestones, plus up to double-digit royalties on global sales. The FDA has granted lirafugratinib breakthrough therapy and orphan drug designations, and recommended filing an NDA for FGFR2-driven CCA first, followed by a supplemental NDA for other solid tumors.

Relay Therapeutics (Nasdaq: RLAY) has announced its participation in four upcoming investor conferences in November and December 2024. The company will participate in fireside chats at the Guggenheim Healthcare Innovation Conference (Nov 13), Stifel Healthcare Conference (Nov 18), Jefferies London Healthcare Conference (Nov 20), and Citizens JMP Hematology and Oncology Summit (Dec 2). All sessions will be webcast live and accessible through Relay's website, with recordings available for 30 days after each event.

Relay Therapeutics reported its third quarter 2024 financial results and corporate highlights. Key highlights include interim data for RLY-2608 + fulvestrant showing a 9.2-month median PFS in heavily pre-treated patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer. The company plans to initiate a pivotal trial in 2025.

Relay Therapeutics has $840 million in cash, expected to fund operations into the second half of 2027. Revenue for Q3 2024 was $0, down from $25.2 million in Q3 2023. R&D expenses decreased to $76.6 million, while G&A expenses increased to $19.8 million. The net loss was $88.1 million, or $0.63 per share.

Corporate highlights include a $230 million follow-on offering and a $50 million annual savings from streamlining the research organization. Looking ahead, the company plans several clinical trial initiations and expansions in 2024 and 2025.

Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, announced it will report its third quarter 2024 financial results and corporate highlights on November 6, 2024 after the U.S. financial markets close.

Relay Therapeutics (Nasdaq: RLAY) has announced the pricing of a public offering of 28,571,429 shares of its common stock at $7.00 per share. The company expects to raise approximately $200 million in gross proceeds, before deducting underwriting discounts and expenses. Underwriters have a 30-day option to purchase up to an additional 4,285,714 shares. The offering is expected to close around September 12, 2024, subject to customary conditions. Goldman Sachs & Co. , TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James as co-manager.

Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, has announced a proposed public offering of $200 million of common stock shares. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. Goldman Sachs & Co. , TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James as co-manager. The offering is subject to market conditions, and its completion is not guaranteed. Shares will be offered through an effective shelf registration statement previously filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be filed and made available to potential investors.

Relay Therapeutics announced positive interim data for RLY-2608, a pan-mutant and isoform-selective inhibitor of PI3Kα, in treating PI3Kα-mutated, HR+/HER2- metastatic breast cancer. Key findings include:

- 9.2-month median progression-free survival (PFS) in heavily pre-treated patients at the recommended Phase 2 dose (RP2D)
- 33% overall response rate (ORR) across all patients and 53% ORR in patients with kinase mutations at RP2D
- Favorable tolerability profile with low discontinuation rates

The company plans to initiate a 2L pivotal study in 2025 and is progressing with triplet combination studies. Relay Therapeutics expects its current cash position to fund operations into the second half of 2026.

Relay Therapeutics (Nasdaq: RLAY) has announced a webcast on September 9, 2024, at 8:00 a.m. ET to report interim data for RLY-2608. The data will focus on the 600mg BID + fulvestrant dosage in second-line and beyond, CDK4/6-experienced patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer from the ongoing ReDiscover trial.

The clinical-stage precision medicine company, known for combining computational and experimental technologies in drug discovery, will host a conference call and webcast to discuss the results and next steps. Interested parties can access the event through Relay Therapeutics' website under the Events section in News & Events. An archived replay will be available after the live presentation.

Relay Therapeutics (Nasdaq: RLAY) reported its Q2 2024 financial results and corporate highlights. The company announced three new programs focusing on genetic diseases and precision oncology.

Key updates include a global clinical trial collaboration with Pfizer for the combination development of RLY-2608 with fulvestrant and atirmociclib, targeting PI3Kα-mutated HR+/HER2- metastatic breast cancer, with clinical trials starting by end of 2024.

Relay has approximately $688 million in cash and investments, expected to fund operations into the second half of 2026. R&D expenses rose to $92 million, primarily due to the ReDiscover trial for RLY-2608, while G&A expenses remained steady at $20.1 million. The company posted a net loss of $92.2 million or $0.69 per share, compared to $98.5 million or $0.81 per share in Q2 2023.