Relay Therapeutics, Inc. Stock Price, News & Analysis

Relay Therapeutics reported strong interim results for RLY-4008, showing an 88% overall response rate among FGFR2-fusion cholangiocarcinoma patients at the ESMO Congress. This supports the potential of their Dynamo platform in developing therapies for FGFR2-driven tumors. The company also reported $1.1 billion in cash and equivalents, sufficient to fund operations into 2025. However, R&D expenses rose to $66.9 million, leading to a net loss of $84.2 million for Q3 2022. Relay continues to focus on advancing its clinical trials and therapies.

Relay Therapeutics (Nasdaq: RLAY) plans to release its third quarter 2022 financial results and corporate highlights on November 3, 2022, after market close. The company specializes in precision medicine, utilizing advanced computational and experimental technologies in drug discovery. Notably, it aims to tackle complex protein targets through its Dynamo™ platform. Notably, no teleconference will follow the financial results release.

Relay Therapeutics (Nasdaq: RLAY) is set to participate in a virtual fireside chat at the Bank of America Securities 2022 Precision Oncology Conference on October 3, 2022, at 2:50 p.m. ET. The event will be webcast live and can be accessed via Relay Therapeutics’ website. An archived replay will be available for up to 30 days after the presentation. Relay Therapeutics focuses on transforming drug discovery using its Dynamo™ platform, aimed at enhancing small molecule therapeutic discovery in oncology and genetic diseases.

Relay Therapeutics (Nasdaq: RLAY) announced a public offering of 11,320,755 shares at $26.50 each, aiming to raise approximately $300 million before expenses. An additional 1,698,113 shares may be purchased by underwriters within 30 days. The offering, managed by Goldman Sachs, J.P. Morgan, and Cowen, is set to close around September 15, 2022. This financing effort is part of Relay's strategy to enhance drug discovery capabilities, focusing on targeted oncology and genetic diseases.

Relay Therapeutics (Nasdaq: RLAY) has announced a public offering of $300 million in common stock, with an option for underwriters to buy an additional 15%. This offering is part of a strategy to enhance its capital position for advancing its precision medicine initiatives in drug discovery. The proposed shares are being sold solely by Relay Therapeutics and will be offered under an effective shelf registration statement previously filed with the SEC. Major banks involved include Goldman Sachs, J.P. Morgan, and Cowen.

Relay Therapeutics (Nasdaq: RLAY) has announced a collaboration with Foundation Medicine to develop FoundationOne®CDx as a companion diagnostic for RLY-4008, an investigational FGFR2 inhibitor targeting cholangiocarcinoma. Interim clinical data presented at ESMO 2022 showed an 88% overall response rate in patients with FGFR2 mutations. The partnership aims to enable more effective treatments for patients with aggressive conditions, expanding access to precision medicine.

Relay Therapeutics (Nasdaq: RLAY) announced promising interim clinical results for RLY-4008, a selective FGFR2 inhibitor, achieving an 88% overall response rate in FGFRi-naïve FGFR2-fusion cholangiocarcinoma patients. Data were presented at the ESMO Congress, reflecting results from 17 patients as of August 1, 2022. The pivotal cohort enrollment is expected to wrap up in the second half of 2023. The company is also gearing up to reveal further data on RLY-2608, a pan-mutant selective PI3Kα inhibitor, within the next year.

Relay Therapeutics announced that an interim clinical data abstract for RLY-4008 has been selected for an oral presentation at the ESMO Congress on September 11, 2022. The focus will be on dose escalation in patients with FGFR2 fusion cholangiocarcinoma. The company will hold a conference call on September 12, 2022, at 8:00 am E.T. to discuss these results. RLY-4008 is a selective oral inhibitor of FGFR2, showing preclinical efficacy against cancer cell lines and is presently under evaluation in a clinical trial for advanced FGFR2-altered solid tumors.

Relay Therapeutics (Nasdaq: RLAY) reported its Q2 2022 financial results, revealing a net loss of $76.8 million, down from $193.4 million in Q2 2021, with a net loss per share of $0.71. The company appointed Dr. Sekar Kathiresan to its board, enhancing its leadership with his extensive experience in genetics and cardiovascular disease. Relay continues to advance its drug pipeline, particularly RLY-2608 and RLY-4008, with key clinical developments anticipated in the coming months, aiming for a strong momentum in their breast cancer and tumor agnostic portfolios.