RLAY Relay Therapeutics Inc.

32.44
-0.22  -1%
Previous Close 32.66
Open 32.68
52 Week Low 26.44
52 Week High 64.37
Market Cap $2,996,883,758
Shares 92,382,360
Float 60,152,331
Enterprise Value $2,315,232,877
Volume 158,998
Av. Daily Volume 494,745
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Upcoming Catalysts

Drug Stage Catalyst Date
RLY-4008
Solid tumors
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
RLY-1971
Solid tumors
Phase 1
Phase 1
GDC-6036 (KRAS G12C) combo trial expected to start in 2021.

Latest News

  1. CAMBRIDGE, Mass., June 02, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in fireside chats at the Goldman Sachs 42nd Annual Global Healthcare Conference on Thursday, June 10, 2021 at 3:50 pm ET and at the JMP Securities Life Science Conference on Thursday, June 17, 2021 at 10:30 am ET. The fireside chats will be webcast live and may be accessed from the Investor page of Relay Tx's website under Events and Presentations. Within 24 hours following each fireside chat, an archived replay of the webcast will be available for 90 days.

    About Relay Therapeutics

    Relay Therapeutics (NASDAQ:RLAY) is a clinical-stage precision medicines company transforming the drug discovery process with the goal of bringing…

    CAMBRIDGE, Mass., June 02, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in fireside chats at the Goldman Sachs 42nd Annual Global Healthcare Conference on Thursday, June 10, 2021 at 3:50 pm ET and at the JMP Securities Life Science Conference on Thursday, June 17, 2021 at 10:30 am ET. The fireside chats will be webcast live and may be accessed from the Investor page of Relay Tx's website under Events and Presentations. Within 24 hours following each fireside chat, an archived replay of the webcast will be available for 90 days.

    About Relay Therapeutics

    Relay 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. Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate disciplines. The company's Dynamo™ platform integrates an array of leading-edge computational and experimental approaches to effectively drug protein targets that have previously been intractable. The initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease. For more information, please visit www.relaytx.com or follow us on Twitter.

    Contact:

    Pete Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

     

    Media:

    Dan Budwick

    1AB

    973-271-6085

     



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  2. CAMBRIDGE, Mass., May 14, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in a fireside chat at the Cowen 2nd Annual Virtual Oncology Innovation Summit on Thursday May 20, 2021 at 11:20am 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 until August 18, 2021.

    About Relay Therapeutics

    Relay 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. Relay Therapeutics is the first of a new breed of…

    CAMBRIDGE, Mass., May 14, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in a fireside chat at the Cowen 2nd Annual Virtual Oncology Innovation Summit on Thursday May 20, 2021 at 11:20am 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 until August 18, 2021.

    About Relay Therapeutics

    Relay 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. Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate disciplines. The company's Dynamo™ platform integrates an array of leading-edge computational and experimental approaches to effectively drug protein targets that have previously been intractable. The initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease. For more information, please visit www.relaytx.com or follow us on Twitter.

    Contact:

    Pete Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    Media:

    Dan Budwick

    1AB

    973-271-6085



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  3. CAMBRIDGE, Mass., May 13, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge computational and experimental technologies, today reported first quarter 2021 financial results.

    "Since the start of 2021, we have been laser-focused on our mission for the year – execution. We continue to make progress on our clinical programs – RLY-1971, our SHP2 inhibitor partnered with Genentech, and RLY-4008, our FGFR2 inhibitor. Our PI3Kα mutant selective program is anticipated to enter IND enabling studies this year and we continue to advance our pipeline of precision oncology and genetic diseases programs," said Sanjiv Patel, M.D…

    CAMBRIDGE, Mass., May 13, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge computational and experimental technologies, today reported first quarter 2021 financial results.

    "Since the start of 2021, we have been laser-focused on our mission for the year – execution. We continue to make progress on our clinical programs – RLY-1971, our SHP2 inhibitor partnered with Genentech, and RLY-4008, our FGFR2 inhibitor. Our PI3Kα mutant selective program is anticipated to enter IND enabling studies this year and we continue to advance our pipeline of precision oncology and genetic diseases programs," said Sanjiv Patel, M.D., president and chief executive officer. "We also made our first acquisition, ZebiAI, as we look to continually bolster our Dynamo™ platform and become a strategic partner of choice for emerging technologies."

    Recent Corporate Highlights

    • Presented preclinical data for RLY-4008, a potent, selective and oral small molecule inhibitor of FGFR2, at the American Association for Cancer Research (AACR) Annual Meeting 2021
    • Completed the IND transfer of RLY-1971 to Genentech, and Genentech remains on track for the start of a combination trial with their KRAS G12C inhibitor, GDC-6036, in 2021
    • Acquired ZebiAI, a pioneer in applying massive experimental DNA encoded library data sets to power machine learning for drug discovery (ML-DEL)
    • Strengthened clinical leadership with the appointments of Tara O'Meara as senior vice president of clinical development operations and Charles Ferté as global medical lead, RLY-4008
    • Expanded computational leadership with the addition of Patrick Riley as senior vice president of artificial intelligence

    First Quarter 2021 Financial Results

    Cash, Cash Equivalents and Investments: As of March 31, 2021, cash, cash equivalents and investments totaled approximately $726.1 million, compared to $678.1 million as of December 31, 2020. The Company expects its current cash and cash equivalents will be sufficient to fund its current operating plan into 2024. The increase in cash is primarily due to the receipt of Genentech's $75 million upfront payment in the first quarter, partially offset by cash used to fund our operations.

    R&D Expenses: Research and development expenses were $30.6 million for the first quarter of 2021, as compared to $21.7 million for the first quarter of 2020. This increase was primarily due to $5.5 million of additional employee related costs, including an increase in stock-based compensation of $3.3 million, $1.7 million related to increased clinical trial expenses associated with RLY-1971 and RLY-4008, and $1.3 million related to our pre-clinical candidates.

    G&A Expenses: General and administrative expenses were $12.7 million for the first quarter of 2021, as compared to $4.8 million for the first quarter of 2020. This increase was primarily due to $6.2 million of increased personnel costs, including increased stock-based compensation of $5.0 million, to support our infrastructure and $1.7 million related to increases in other general and administrative expenses primarily attributed to an increase in insurance expense.

    Net Loss: Net loss was $42.2 million for the first quarter of 2021, or a net loss per share of $0.47, as compared to a net loss of $24.9 million for the first quarter of 2020, or a net loss per share of $5.99.

    About Relay Therapeutics



    Relay 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. Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate technologies. The Company's Dynamo™ platform integrates an array of leading-edge computational and experimental approaches to effectively drug protein targets that have previously been intractable. The Company's initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease. 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 Relay Therapeutics' strategy, business plans and focus; the progress and timing of updates on the clinical development of the programs across Relay Therapeutics' portfolio, including the timing of entering into IND-enabling studies for its PI3Kα mutant selective inhibitor program and the expected initiation of the RLY-1971 and GDC-6036 (KRAS G12C inhibitor) combination trial; the expected strategic benefits of the acquisition of ZebiAI, including the potential improvements to Relay Therapeutics' Dynamo platform; Relay Therapeutics' position as a strategic partner of choice for emerging technologies; expectations regarding Relay Therapeutics' further investment in these fields; the expected impact and contribution of Relay Therapeutics' executives to its business; expectations regarding Relay Therapeutics' use of capital, expenses, future accumulated deficit and other financial results during 2021 and in the future, and Relay Therapeutics' ability to fund operations into 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 Relay Therapeutics' drug candidates; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; Relay Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of Relay Therapeutics' 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 for the year ended December 31, 2020, 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 Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    Media:

    Dan Budwick

    1AB

    973-271-6085

    Relay Therapeutics, Inc.

    Condensed Consolidated Statements of Operations and Comprehensive Loss

    (In thousands, except share and per share data)

    (Unaudited)

      Three Months Ended

    March 31,
     
      2021  2020 
    Revenue:        
    Collaboration revenue $952  $ 
    Total revenue  952    
    Operating expenses:        
    Research and development expenses $30,622  $21,700 
    General and administrative expenses  12,735   4,758 
    Total operating expenses  43,357   26,458 
    Loss from operations  (42,405)  (26,458)
    Other income (expense):        
    Interest income  226   1,572 
    Other expense  (5)   
    Total other income (expense), net  221   1,572 
    Net loss $(42,184) $(24,886)
    Net loss per share, basic and diluted $(0.47) $(5.99)
    Weighted average shares of common stock, basic and diluted  90,197,579   4,153,791 
    Other comprehensive (loss) income:        
    Unrealized holding (loss) gain  (52)  1,069 
    Total other comprehensive (loss) income  (52)  1,069 
    Total comprehensive loss $(42,236) $(23,817)

    Relay Therapeutics, Inc.

    Selected Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)

     March 31,

    2021 

     December 31,

    2020 
         
    Cash, cash equivalents and investments$         726,075 $        678,061
    Working capital (1) 726,351  756,468
    Total assets 771,346  799,829
    Total liabilities 38,560  36,536
    Total stockholders' equity 732,786  763,293
    Restricted cash 878  878
              
    (1)   Working capital is defined as current assets less current liabilities.                 



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  4. CAMBRIDGE, Mass., May 10, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge computational and experimental technologies, today announced the appointment of Patrick Riley, Ph.D., as senior vice president of artificial intelligence. Dr. Riley is an industry expert in artificial intelligence and machine learning, bringing 15 years of experience from Google and extensive knowledge in applying these technologies to drug discovery. Dr. Riley will lead a computational team and report to group head, Pat Walters.

    "We are excited to welcome Patrick to our computational organization at Relay Therapeutics," said Sanjiv Patel, M.D…

    CAMBRIDGE, Mass., May 10, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge computational and experimental technologies, today announced the appointment of Patrick Riley, Ph.D., as senior vice president of artificial intelligence. Dr. Riley is an industry expert in artificial intelligence and machine learning, bringing 15 years of experience from Google and extensive knowledge in applying these technologies to drug discovery. Dr. Riley will lead a computational team and report to group head, Pat Walters.

    "We are excited to welcome Patrick to our computational organization at Relay Therapeutics," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "We're constantly seeking new ways to augment our capabilities and push the boundaries of what's possible in drug discovery, most recently with the acquisition of ZebiAI and now, with the addition of Patrick. All our recent activities on the computational front will help further our expertise in machine learning to help us continue finding novel medicines against intractable targets."

    Dr. Riley has over a decade of data science and machine learning experience from Google, initially in web search and user behavior analysis, and later as a principal engineer and senior researcher on the Google Accelerated Science team. There he collaborated with external scientists to apply Google's knowledge and experience in machine learning to important scientific problems. Dr. Riley has authored multiple publications on machine learning applications in quantum chemistry, protein design, materials science and nuclear fusion, including foundational work on graph neural networks and their application to DNA encoded small molecule library screening. He holds a Ph.D., M.S., and B.S. in computer science from Carnegie Mellon University.

    "I'm thrilled to join Relay Therapeutics and work alongside Pat and some of the best computational talent in the industry. The application of artificial intelligence for drug discovery has incredible potential to transform the way new therapies are developed and I'm honored to be a part of a company that is at the forefront of this innovation," said Dr. Riley.

    About Relay Therapeutics



    Relay 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. Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate technologies. The company's Dynamo™ platform integrates an array of leading-edge computational and experimental approaches to effectively drug protein targets that have previously been intractable. The initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease. 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 Relay Therapeutics' strategy, business plans and focus; expectations regarding the augmentation of Relay Therapeutics' capabilities; the benefit of Relay Therapeutics' activities in the computational field on its drug discovery capabilities; the potential strategic benefits of the acquisition of ZebiAI; the expected impact and contribution of Relay Therapeutics' executives to its business and the potential of machine learning as applied to drug discovery and Relay Therapeutics' position as being at the forefront of this field. 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 Relay Therapeutics' drug candidates; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; Relay Therapeutics' ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of Relay Therapeutics' 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 for the year ended December 31, 2020, 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 Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    Media:

    Dan Budwick

    1AB

    973-271-6085



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  5. CAMBRIDGE, Mass., May 05, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in a fireside chat at the Bank of America 2021 Health Care Conference on Tuesday, May 11, 2021 at 8:45 a.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 until August 13, 2021.

    About Relay Therapeutics

    Relay 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. Relay Therapeutics is the first of a new breed of biotech…

    CAMBRIDGE, Mass., May 05, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to participate in a fireside chat at the Bank of America 2021 Health Care Conference on Tuesday, May 11, 2021 at 8:45 a.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 until August 13, 2021.

    About Relay Therapeutics



    Relay 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. Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate disciplines. The company's Dynamo™ platform integrates an array of leading-edge computational and experimental approaches to effectively drug protein targets that have previously been intractable. The initial focus is on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease. For more information, please visit www.relaytx.com or follow us on Twitter

    Contact:

    Pete Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

     

    Media:

    Dan Budwick

    1AB

    973-271-6085

     



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