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Relay Therapeutics, Inc. (RLAY)

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Previous Close32.77
Open32.71
Bid31.10 x 1000
Ask32.50 x 800
Day's Range30.72 - 33.24
52 Week Range30.72 - 64.37
Volume1,132,189
Avg. Volume806,126
Market Cap2.89B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
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1y Target Est54.60
  • Relay Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Operational Highlights
    GlobeNewswire

    Relay Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Operational Highlights

    Advanced two programs, RLY-1971 and RLY-4008, into clinical development, and on track to initiate IND enabling studies with PI3Kα mutant selective inhibitor in 2021 Entered into a global collaboration with Genentech for the development and commercialization of RLY-1971 Continued to advance three additional oncology preclinical programs and extended work outside of oncology into genetic diseases with two preclinical programs $678.1 million in cash, cash equivalents and marketable securities at end of 2020, with the $75 million upfront payment received from Genentech in 2021, expected to fund operations into 2024 CAMBRIDGE, Mass., March 25, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge experimental and computational technologies, today reported fourth quarter and full year 2020 financial results and operational highlights. “2020 was a transformational year for Relay Therapeutics. We successfully advanced multiple programs into the clinic, evolved our platform, expanded our strong team and completed a successful IPO,” said Sanjiv Patel, M.D., president and chief executive officer. “While the last few years were spent validating our approach of combining leading edge experimental and computational techniques to create potentially life-saving therapies for patients, the next chapter will be about extending our platform leadership and delivering meaningful clinical results to support the success of our programs. 2021 will be a critical year of execution as we advance our mission of transforming drug discovery to address some of the most devastating diseases.” 2020 Corporate Highlights Initiated first-in-human clinical studies for RLY-1971 (SHP2 inhibitor) and RLY-4008 (FGFR2 inhibitor)Progressed PI3Kα mutant selective program into late lead optimizationContinued to advance three additional precision oncology programs through preclinical developmentExpanded research efforts into genetic diseases with two preclinical programsStrengthened the balance sheet with $460 million gross proceeds raised in an initial public offeringAnnounced a worldwide license and collaboration agreement with Genentech, Inc., a member of the Roche Group, for the development and commercialization of RLY-1971 2021 Anticipated Milestones Present preclinical data for RLY-4008 at the American Association for Cancer Research (AACR) Annual Meeting 2021Announce initial clinical data for RLY-4008 in the second half of 2021Genentech to initiate RLY-1971 and GDC-6036 (KRAS G12C inhibitor) combination trialEnter IND-enabling studies for PI3Kα mutant selective inhibitor and provide program update Fourth Quarter and Full Year 2020 Financial Results Cash, Cash Equivalents and Investments: As of December 31, 2020, cash, cash equivalents and investments totaled approximately $678.1 million, compared to $355.8 million as of December 31, 2019. The Company expects its current cash and cash equivalents, including the $75 million upfront payment received from Genentech in 2021, will be sufficient to fund its current operating plan into 2024. R&D Expenses: Research and development expenses were $32.1 million for the fourth quarter of 2020, as compared to $22.4 million for the fourth quarter of 2019. This increase was primarily due to $7.4 million of increased employee related costs, including $5.7 million of additional share-based compensation expense, primarily due to increases in our stock price and increased headcount, and $2.3 million in increased clinical trial expenses. Research and development expenses were $99.9 million for the full year 2020, as compared to $70.3 million for the full year 2019. G&A Expenses: General and administrative expenses were $15.5 million for the fourth quarter of 2020, as compared to $3.4 million for the fourth quarter of 2019. This increase was primarily due to $9.1 million of increased employee related costs, including $7.5 million of additional share-based compensation expense, primarily due to increases in our stock price and increased headcount, as well as $3.0 million of increased general expenses, primarily driven by public company related costs. General and administrative expenses were $38.6 million for the full year 2020, as compared to $13.7 million for the full year 2019. Net Income/Loss: Net income was $35.3 million for the fourth quarter of 2020, as compared to a net loss of $23.9 million for the fourth quarter of 2019. Net loss was $52.4 million for the full year 2020, or a net loss per share of $5.40, as compared to a net loss of $75.3 million for the full year 2019, or a net loss per share of $21.82. About Relay TherapeuticsRelay Therapeutics® (Nasdaq: RLAY) is a clinical-stage precision medicines company transforming the drug discovery process with the goal of bringing life-changing therapies to patients. Built on unparalleled insights into protein motion and how this dynamic behavior relates to protein function, Relay Therapeutics aims to effectively drug protein targets that have previously been intractable, with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology. The Company’s Dynamo™ platform integrates an array of leading-edge experimental and computational approaches to provide a differentiated understanding of protein structure and motion to drug these targets. For more information, please visit www.relaytx.com or follow us on Twitter. 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, implied and express statements regarding the Company’s strategy, business plans and focus; the progress and timing of updates on the clinical development of the programs across the Company’s portfolio, including the timing of the Company’s first expected data readout for RLY-4008, ability to enter IND-enabling studies for its PI3Kα mutant selective inhibitor program, expected therapeutic benefits of its programs, presentation of additional data at upcoming scientific conferences and other preclinical data in 2021, ability to optimize the impact of collaborations on the Company’s programs, including but not limited to the Company’s collaboration with Genentech and the expected initiation of the RLY-1971 and GDC-6036 (KRAS G12C inhibitor) combination trial, expectations regarding the Company’s use of capital, expenses, future accumulated deficit and other financial results during 2021 and in the future, and the Company’s ability to fund operations through at least 2024. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or 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 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, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our clinical trials, strategy and future operations; the delay of any current or planned clinical trials or the development of the Company’s drug candidates; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; the Company’s ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company’s planned interactions with regulatory authorities; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Relay Therapeutics’ Annual Report on Form 10-K expected to be filed on or about March 25, 2021, its most recent Quarterly Report on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Relay Therapeutics' views only as of today 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. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Contact:Pete RahmerSenior Vice President, Corporate Affairs and Investor Relations617-322-0715prahmer@relaytx.com Media:Dan Budwick1AB973-271-6085dan@1abmedia.com Relay Therapeutics, Inc.Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) Year EndedDecember 31, 2020 2019 Revenue: License revenue $82,654 $— Total revenue 82,654 — Operating expenses: Research and development expenses 99,862 70,306 General and administrative expenses 38,588 13,742 Total operating expenses 138,450 84,048 Loss from operations (55,796) (84,048)Other income (expense): Interest income 3,400 8,801 Other expense (16) (58)Total other income (expense), net 3,384 8,743 Net loss $(52,412) $(75,305)Deemed dividend resulting from extinguishment upon modification of series C preferred stock (177,789) — Net loss attributable to common stockholders $(230,201) $(75,305)Net loss attributable to common stockholders per share, basic and diluted $(5.40) $(21.82)Weighted average shares of common stock, basic and diluted 42,619,582 3,450,500 Other comprehensive income (loss): Unrealized holding gain (loss) (261) 325 Total other comprehensive income (loss) (261) 325 Total comprehensive loss $(52,673) $(74,980) Relay Therapeutics, Inc. Selected Condensed Consolidated Balance Sheet Data(In thousands) December 31,2020 December 31,2019 Cash, cash equivalents and investments $678,061 $355,816 Working capital (1) 756,468 348,550 Total assets 799,829 393,068 Total liabilities 36,536 35,725 Convertible preferred stock — 537,781 Total stockholders’ equity (deficit) 763,293 (180,438)Restricted cash 878 878 (1) Working capital is defined as current assets less current liabilities.

  • Relay Therapeutics to Present Preclinical Data on RLY-4008 at AACR Annual Meeting
    GlobeNewswire

    Relay Therapeutics to Present Preclinical Data on RLY-4008 at AACR Annual Meeting

    RLY-4008 demonstrates strong activity against known clinical on-target resistance mutations in cellular and in vivo preclinical modelsCAMBRIDGE, Mass., March 10, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by leveraging unparalleled insights into protein motion, today announced that preclinical data for RLY-4008, a potent, selective and oral small molecule inhibitor of FGFR2, has been selected for poster presentation at the upcoming virtual American Association for Cancer Research (AACR) Annual Meeting. AACR is being held April 10-15 and May 17-21. The Company anticipates disclosing initial clinical data for RLY-4008 in the second half of 2021. Poster Presentation Details:Title: RLY-4008, a novel precision therapy for FGFR2-driven cancers designed to potently and selectively inhibit FGFR2 and FGFR2 resistance mutationsAbstract Number: 1455Session Category: Experimental and Molecular TherapeuticsSession Title: Tyrosine Kinase and Phosphatase Inhibitors The poster will be available on April 10, 2021 on the Relay Therapeutics website at https://ir.relaytx.com/news-events/events-presentations. About RLY-4008RLY-4008 is a potent, selective and oral small molecule inhibitor of FGFR2, a receptor tyrosine kinase that is frequently altered in certain cancers. FGFR2 is one of four members of the FGFR family, a set of closely related proteins with highly similar protein sequences and properties. Preclinically, RLY-4008 demonstrates FGFR2-dependent killing in cancer cell lines and induces regression in in vivo models, while showing minimal inhibition of other targets, including other members of the FGFR family. In addition, RLY-4008 demonstrates strong activity against known clinical on-target resistance mutations in cellular and in vivo preclinical models. RLY-4008 is currently being evaluated in a first-in-human trial designed to treat patients with advanced or metastatic FGFR2-altered solid tumors. To learn more about the first-in-human clinical trial of RLY-4008, please visit here. About Relay TherapeuticsRelay Therapeutics (Nasdaq: RLAY) is a clinical-stage precision medicines company transforming the drug discovery process with the goal of bringing life-changing therapies to patients. Built on unparalleled insights into protein motion and how this dynamic behavior relates to protein function, Relay Therapeutics aims to effectively drug protein targets that have previously been intractable, with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology. The Company’s Dynamo™ platform integrates an array of leading-edge experimental and computational approaches to provide a differentiated understanding of protein structure and motion to drug these targets. For more information, please visit www.relaytx.com or follow us on Twitter. 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, implied and express statements regarding plans and timelines for the clinical development of RLY-4008, the therapeutic potential and clinical benefits thereof and the Company’s strategy, business plans and focus. The words "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," "target" and similar words or 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 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, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our clinical trials, strategy and future operations; the delay of any current or planned clinical trials or the development of the Company’s drug candidates; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; the Company’s ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company’s planned interactions with regulatory authorities; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Relay Therapeutics’ most recent Quarterly Report on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Relay Therapeutics' views only as of today 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. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Contact:Pete RahmerSenior Vice President, Corporate Affairs and Investor Relations617-322-0715prahmer@relaytx.com Media:Dan Budwick1AB973-271-6085dan@1abmedia.com

  • Relay Therapeutics to Participate in Fireside Chat at Guggenheim Healthcare Talks 2021 Oncology Day
    GlobeNewswire

    Relay Therapeutics to Participate in Fireside Chat at Guggenheim Healthcare Talks 2021 Oncology Day

    CAMBRIDGE, Mass., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY) is scheduled to participate in a fireside chat at the Guggenheim Healthcare Talks 2021 Oncology Day on Thursday, February 11, 2021 at 3:30 p.m. ET. The fireside chat will be webcast live and may be accessed from the Investor page of Relay’s website under Events and Presentations. Within 24 hours following the fireside chat, an archived replay of the webcast will be available for up to one year. About Relay TherapeuticsRelay Therapeutics (Nasdaq: RLAY) is a clinical-stage precision medicines company transforming the drug discovery process with the goal of bringing life-changing therapies to patients. Built on unparalleled insights into protein motion and how this dynamic behavior relates to protein function, Relay Therapeutics aims to effectively drug protein targets that have previously been intractable, with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology. The Company’s Dynamo platform integrates an array of leading-edge experimental and computational approaches to provide a differentiated understanding of protein structure and motion to drug these targets. For more information, please visit www.relaytx.com or follow us on Twitter. Contact:Pete Rahmer, Head of Investor Relations and Communications617-322-0715prahmer@relaytx.com Media:Dan Budwick1AB973-271-6085dan@1abmedia.com