Relay Therapeutics Announces Proposed Public Offering of Common Stock
Relay Therapeutics (Nasdaq: RLAY) has launched an underwritten public offering of $175 million of common stock.
Sentiment and the balance of points
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Rhea-AI Summary
Relay Therapeutics (Nasdaq: RLAY) has launched an underwritten public offering of $175 million of common stock. The company plans to grant underwriters a 30-day option to buy up to an additional 15% of the shares.
All shares are to be sold by Relay Therapeutics under an effective Form S-3ASR shelf registration. Jefferies, TD Cowen, Goldman Sachs and Guggenheim Securities are joint bookrunners, with Raymond James as lead manager. The deal’s timing, size and terms remain subject to market conditions.
Positive
- Potential capital raise of $175 million, plus 15% underwriter option
- Use of effective Form S-3ASR shelf streamlines access to capital markets
- Syndicate led by multiple major investment banks as joint bookrunners
Negative
- All shares sold by company, implying equity dilution for existing holders
- Offering size and completion remain uncertain and market dependent
Details
News Market Reaction – RLAY
On May 20, the first trading day after this news, RLAY closed 7.87% above the previous close.
Data tracked by StockTitan Argus for the May 20 session.
Key Figures
- Offering size
- $175 million
- Amount of common stock in proposed underwritten public offering
- Underwriter option period
- 30 days
- Duration of option to purchase additional shares
- Underwriter option size
- 15%
- Additional shares of common stock relative to base offering
- Form type
- Form S-3ASR
- Registration form cited for offering
- SEC file number
- 333-281308
- File number for registration statement referenced
- Filing date
- August 6, 2024
- Date registration statement was filed with SEC
Previous Offering Reports
-
Pricing of common stock offering at $7.00 per share with large share issuance.
-
Announcement of proposed $200 million public common stock offering and underwriter option.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
underwritten public offering financial
prospectus supplement regulatory
registration statement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
CAMBRIDGE, Mass., May 19, 2026 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease, announced today that it has commenced an underwritten public offering of
Jefferies, TD Cowen, Goldman Sachs & Co. LLC and Guggenheim Securities are acting as joint book-running managers for the proposed offering. Raymond James is acting as lead manager. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The shares of common stock are being offered by Relay Therapeutics pursuant to an automatically effective shelf registration statement on Form S-3ASR (File No. 333-281308) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on August 6, 2024. The offering is being made solely by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and may be obtained, when available, from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or by accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Relay Therapeutics
Relay Therapeutics is a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease. Relay Therapeutics’ Dynamo® platform integrates an array of leading-edge computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed. Relay Therapeutics’ lead clinical asset, zovegalisib, is the first pan-mutant selective PI3Kα inhibitor to enter clinical development and is currently in a Phase 3 clinical trial (ReDiscover-2) in HR+/HER2- metastatic breast cancer. Zovegalisib is also being investigated in a group of genetic disease indications called PIK3CA-driven vascular anomalies. Relay Therapeutics’ pipeline also includes programs for NRAS-driven solid tumors and Fabry disease.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Relay Therapeutics’ anticipated public offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Any forward-looking statements in this press release, such as the intended offering terms, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Relay Therapeutics’ most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Relay Therapeutics’ other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the proposed public offering to be filed with the SEC. Any forward-looking statements contained in this press release represent Relay Therapeutics’ views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Relay Therapeutics explicitly disclaims any obligation to update any forward-looking statements, except as required by law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Contact:
Mitch Maisel
Mmaisel@relaytx.com
Media:
Dan Budwick
1AB
973-271-6085
dan@1abmedia.com
FAQ
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