1. CAMBRIDGE, Mass., Sept. 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 announced that initial clinical data for RLY-4008 and preclinical data for RLY-2608 have been selected for a plenary oral and poster presentation, respectively, at the upcoming virtual AACR-NCI-EORTC Molecular Targets Conference, being held October 7-10, 2021.

    RLY-4008 is a potent, selective and oral small molecule inhibitor of FGFR2 that entered a first-in-human clinical trial in September 2020. RLY-2608 is the first allosteric, pan-mutant (H1047X, E542X and E545X), and isoform-selective…

    CAMBRIDGE, Mass., Sept. 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 announced that initial clinical data for RLY-4008 and preclinical data for RLY-2608 have been selected for a plenary oral and poster presentation, respectively, at the upcoming virtual AACR-NCI-EORTC Molecular Targets Conference, being held October 7-10, 2021.

    RLY-4008 is a potent, selective and oral small molecule inhibitor of FGFR2 that entered a first-in-human clinical trial in September 2020. RLY-2608 is the first allosteric, pan-mutant (H1047X, E542X and E545X), and isoform-selective PI3Kα inhibitor and is on track to initiate a first-in-human clinical trial in the first half of 2022. Relay Therapeutics will host a live webcast on October 8, 2021 at 12:30 pm E.T. to discuss the results of the two presentations.

    Late Breaking Plenary Oral Presentation Details for RLY-4008:

    Title: First results of RLY-4008, a potent and highly selective FGFR2 inhibitor in a first-in-human study in patients with FGFR2-altered cholangiocarcinoma and multiple solid tumors

    Abstract Number: LB6604

    Session Title: Plenary Session 2: New Drugs on the Horizon

    Date/Time: October 8, 2021 at 10:25 am E.T.

    Poster Presentation Details for RLY-2608:

    Title: Discovery and characterization of RLY-2608: The first allosteric, mutant, and isoform-selective inhibitor of PI3Kα

    Abstract Number: P251

    Date/Time: All poster presentations are made available by the conference at the opening of the meeting on October 7, 2021 at 9:00 am E.T.

    The presentation and poster will be available shortly after being presented on the Relay Therapeutics website at https://ir.relaytx.com/news-events/events-presentations.

    About RLY-4008

    RLY-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 clinical 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 RLY-2608

    RLY-2608 is the lead program of multiple preclinical efforts to discover and develop mutant selective inhibitors of PI3Kα. PI3Kα is the most frequently mutated kinase in solid tumors, with oncogenic mutations detected in about 13% of patients with solid tumors. Traditionally, the development of PI3Kα inhibitors has focused on the active, or orthosteric site. The therapeutic index of orthosteric inhibitors is limited by the lack of clinically meaningful selectivity for mutant versus wild-type PI3Kα and off-isoform activity. Toxicity related to inhibition of wild-type PI3Kα and other PI3K isoforms results in sub-optimal inhibition of mutant PI3Kα with reductions in dose intensity and frequent discontinuation. The Dynamo™ platform enabled the discovery of RLY-2608, the first allosteric, pan-mutant (H1047X, E542X and E545X), and isoform-selective PI3Kα inhibitor designed to overcome these limitations. RLY-2608 is on path to initiate a first-in-human clinical trial in the first half of 2022.

    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 initiation of a first-in-human clinical trial of RLY-2608, clinical data disclosures of RLY-4008 and preclinical data disclosures of RLY-2608; and potential therapeutic effects of RLY-2608 and RLY-4008. 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' Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  2. Company selected RLY-2608 as PI3Kα mutant inhibitor development candidate and plans to initiate first-in-human study in the first half of 2022

    RLY-2608 potently inhibits mutants H1047X, E542X, and E545X, which affect over 100,000 patients annually in the U.S.

    Relay Therapeutics and EQRx enter a collaboration to discover, develop, and commercialize novel oncology medicines

    CAMBRIDGE, Mass., Aug. 12, 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 provided an update on its PI3Kα mutant selective program, reported second quarter 2021 financial results and announced…

    Company selected RLY-2608 as PI3Kα mutant inhibitor development candidate and plans to initiate first-in-human study in the first half of 2022

    RLY-2608 potently inhibits mutants H1047X, E542X, and E545X, which affect over 100,000 patients annually in the U.S.

    Relay Therapeutics and EQRx enter a collaboration to discover, develop, and commercialize novel oncology medicines

    CAMBRIDGE, Mass., Aug. 12, 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 provided an update on its PI3Kα mutant selective program, reported second quarter 2021 financial results and announced a collaboration with EQRx.

    "PI3Kα mutations have been a known oncogene for the past 20 years but this has been a very difficult drug discovery challenge to solve using conventional approaches. Leveraging our Dynamo™ platform, the Relay Therapeutics team has been able to create what we believe to be the first ever mutant selective inhibitor of PI3Kα, which offers the potential to address a significant unmet medical need," said Sanjiv Patel, M.D., president and chief executive officer. "Other programs in our pipeline continue to progress as anticipated, with RLY-4008, our FGFR2 inhibitor on track for an initial data disclosure later this year. We hope to demonstrate that our platform has achieved another breakthrough by potentially creating the first ever selective small molecule inhibitor of FGFR2. Finally, our new collaboration with EQRx announced today opens yet another avenue for our Dynamo platform to potentially impact the lives of more patients and generate value for our shareholders. This partnership allows us to utilize the scale and efficiencies of our machine learning and artificial intelligence capabilities against an expanded target landscape. We look forward to a productive remainder of 2021."

    PI3Kα Mutant Selective Program Update

    Phosphoinositide 3-kinase alpha (PI3Kα) is the most frequently mutated kinase in solid tumors. Approximately 60%-70% of the mutations in PI3Kα cluster at three amino acids (H1047, E542, and E545). Traditionally, the development of PI3Kα inhibitors has focused on the active, or orthosteric site. The therapeutic index of orthosteric inhibitors is limited by the lack of clinically meaningful selectivity for mutant versus wild-type PI3Kα and off-isoform activity. Toxicity related to inhibition of wild-type PI3Kα and other PI3K isoforms results in sub-optimal inhibition of mutant PI3Kα with reductions in dose intensity and frequent discontinuation. RLY-2608, the first allosteric, pan-mutant (H1047X, E542X and E545X), and isoform-selective PI3Kα inhibitor was designed to overcome these limitations.

    Relay Therapeutics solved the full-length cryo-EM structure of PI3Kα, performed computational long time-scale molecular dynamic simulations to elucidate conformational differences between wild-type and mutant PI3Kα, and leveraged these insights to enable the design of RLY-2608. In biochemical assays, RLY-2608 inhibits H1047R, E542K, and E545K mutant PI3Kα activity with <10nM potency and 8-12x selectivity relative to wild-type PI3Kα. RLY-2608 is > 1000-fold selective over the β, δ, and γ PI3K isoforms in biochemical assays and demonstrates exquisite selectivity across a panel of 322 kinases.

    This progress puts RLY-2608 on path to initiate a first-in-human clinical study in the first half of 2022. RLY-2608 is the lead program of multiple preclinical efforts to discover and develop mutant selective inhibitors of PI3Kα.

    Strategic Collaboration with EQRx

    Relay Therapeutics and EQRx entered a worldwide strategic collaboration to discover, develop, and commercialize novel medicines against validated oncology targets. Under the terms of the agreement, Relay Therapeutics will be responsible for the discovery phase through to Investigational New Drug application filing, while EQRx will be responsible for clinical development, regulatory and commercialization efforts of the product candidates developed pursuant to the collaboration. Relay Therapeutics and EQRx will equally share in the discovery, development and commercialization costs and the net profits from sales of any collaboration medicines, if approved. The collaboration will start with one program, but the companies can mutually agree to add additional programs to the collaboration in the future. Relay Therapeutics retains the right to develop any collaboration medicines in combination with its wholly-owned pipeline.

    Other Recent Corporate Highlights

    • RLY-4008, a potent, selective and oral small molecule inhibitor of FGFR2, remains on track to report initial safety, tolerability and pharmacokinetics data across multiple dose levels before the end of 2021. Most patients to be reported on will be FGFR2 altered cholangiocarcinoma (CCA) patients with prior exposure to pan-FGFR inhibitor therapies. The disclosure will also include preliminary efficacy data focusing on FGFR2 fusion CCA pan-FGFR treatment naïve patients.



    • In July 2021, Genentech initiated the cohort of RLY-1971/GDC-1971, an inhibitor of SHP2, in combination with GDC-6036, an inhibitor of KRAS G12C, in a Phase 1b trial.

    Second Quarter 2021 Financial Results

    Cash, Cash Equivalents and Investments: As of June 30, 2021, cash, cash equivalents and investments totaled approximately $671.2 million, compared to $678.1 million as of December 31, 2020. The change in cash reflects the receipt of Genentech's $75 million upfront payment in the first quarter, partially offset by $25.1 million in net cash paid for the acquisition of ZebiAI and cash used to fund our operations. The Company expects its current cash and cash equivalents will be sufficient to fund its current operating plan into 2024.

    R&D Expenses: Research and development expenses were $180.0 million for the second quarter of 2021, as compared to $21.7 million for the second quarter of 2020. $134.9 million was due to the acquisition of ZebiAI in April 2021. The additional increase of $23.5 million was primarily due to $12.3 million of additional employee related costs, including an increase in stock-based compensation of $8.2 million, $7.3 million related to our pre-clinical candidates and $2.5 million related to increased clinical trial expenses associated with RLY-1971 and RLY-4008.

    G&A Expenses: General and administrative expenses were $14.4 million for the second quarter of 2021, as compared to $6.1 million for the second quarter of 2020. The increase of $8.4 million was primarily due to $5.8 million of increased personnel costs, including increased stock-based compensation of $3.9 million, to support our infrastructure and $2.6 million related to increases in other general and administrative expenses primarily attributed to an increase in insurance expense.

    Net Loss: Net loss was $193.4 million for the second quarter of 2021, or a net loss per share of $2.10, as compared to a net loss of $26.7 million for the second quarter of 2020, or a net loss per share of $6.06.

    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 initiation of a first-in-human clinical trial of RLY-2608, initial data disclosures of RLY-4008 and potential therapeutic effects of RLY-2608 and RLY-4008; the expected strategic benefits of the collaboration between Relay Therapeutics and EQRx, including the potential to successfully discover, develop, and commercialize any novel medicine, if at all; the potential target patient population of RLY-2608; 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' Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Relay Therapeutics, Inc.

    Condensed Consolidated Statements of Operations and Comprehensive Loss

    (In thousands, except share and per share data)

    (Unaudited)

      Three Months Ended

    June 30,
      Six Months Ended

    June 30,
     
      2021  2020  2021  2020 
    Revenue:                
    Collaboration revenue $844  $  $1,796  $ 
    Total revenue  844      1,796     
    Operating expenses:                
    Research and development expenses $45,147  $21,666  $75,769  $43,363 
    In-process research and development expenses  123,000      123,000    
    Loss on initial consolidation of variable interest entity  11,855      11,855    
    General and administrative expenses  14,422   6,053   27,156   10,814 
    Total operating expenses  194,424   27,719   237,780   54,177 
    Loss from operations  (193,580)  (27,719)  (235,984)  (54,177)
    Other income (expense):                
    Interest income  180   998   406   2,570 
    Other income (expense)  1   (3)  (4)  (3)
    Total other income (expense), net  181   995   402   2,567 
    Net loss $(193,399) $(26,724) $(235,582) $(51,610)
    Net loss per share, basic and diluted $(2.10) $(6.06) $(2.58) $(12.06)
    Weighted average shares of common stock, basic and diluted  91,939,439   4,408,470   91,188,160   4,281,169 
    Other comprehensive (loss) income:                
    Unrealized holding (loss) gain  (76)  (763)  (128)  306 
    Total other comprehensive (loss) income  (76)  (763)  (128)  306 
    Total comprehensive loss $(193,475) $(27,487) $(235,710) $(51,304)



    Relay Therapeutics, Inc.

    Selected Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)

      June 30,

    2021
      December 31,

    2020
     
    Cash, cash equivalents and investments $671,220  $678,061 
    Working capital (1)  655,891   756,468 
    Total assets  714,401   799,829 
    Total liabilities  95,872   36,536 
    Total stockholders' equity  618,529   763,293 
    Restricted cash  2,578   878 

    (1) Working capital is defined as current assets less current liabilities.



    Primary Logo

    View Full Article Hide Full Article
  3. CAMBRIDGE, Mass., Aug. 05, 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, plans to report second quarter 2021 financial results after the close of market on Thursday, August 12, 2021. The company will not be conducting a teleconference in conjunction with its financial results press release.

    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…

    CAMBRIDGE, Mass., Aug. 05, 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, plans to report second quarter 2021 financial results after the close of market on Thursday, August 12, 2021. The company will not be conducting a teleconference in conjunction with its financial results press release.

    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.

    Contact:

    Pete Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  4. 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

    prahmer@relaytx.com 

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com 



    Primary Logo

    View Full Article Hide Full Article
  5. 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  6. 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com

    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.                 



    Primary Logo

    View Full Article Hide Full Article
  7. 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  8. 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

    prahmer@relaytx.com 

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com 



    Primary Logo

    View Full Article Hide Full Article
  9. CAMBRIDGE, Mass., May 03, 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 appointments of Tara O'Meara as senior vice president of clinical development operations, and Charles Ferté, M.D., Ph.D., as vice president, global medical lead for RLY-4008. Ms. O'Meara and Dr. Ferté bring decades of experience in the strategic oversight and execution of multiple drug development programs and will further strengthen the clinical team and Relay Therapeutics' ability to bring lifesaving therapies to patients.

    "We are thrilled to welcome Tara and Charles to our growing…

    CAMBRIDGE, Mass., May 03, 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 appointments of Tara O'Meara as senior vice president of clinical development operations, and Charles Ferté, M.D., Ph.D., as vice president, global medical lead for RLY-4008. Ms. O'Meara and Dr. Ferté bring decades of experience in the strategic oversight and execution of multiple drug development programs and will further strengthen the clinical team and Relay Therapeutics' ability to bring lifesaving therapies to patients.

    "We are thrilled to welcome Tara and Charles to our growing clinical team at Relay Therapeutics," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "Over the last few years, we believe we have validated our approach of integrating computational and experimental techniques across multiple areas of drug discovery and have successfully advanced two products to the clinic with another one close behind. The leadership of Tara and Charles will fortify our clinical team and continue to strengthen what we intend to be a robust pipeline going forward."

    Ms. O'Meara spent nearly a decade at bluebird bio, initially overseeing the development and execution of the clinical program for a rare genetic disease, and most recently, leading the clinical development operations department where she had strategic oversight across all development programs, including severe genetic disease and oncology. Prior to bluebird bio, Ms. O'Meara directed the clinical operations group for Synageva BioPharma, now Alexion Pharmaceuticals, and held multiple roles at the Genzyme Corporation, now Sanofi Genzyme, including global team leader for a clinical development program in Pompe disease.

    Dr. Ferté has over 15 years of R&D experience in oncology drug development, both in academia and industry. Having held multiple roles at AstraZeneca, Dr. Ferté most recently served as senior director and global project leader in AstraZeneca's oncology R&D division where he oversaw the development of multiple immune-oncology assets. Before AstraZeneca, Dr. Ferté was a physician scientist at the Institute Gustave Roussy (IGR) in Paris, France, working as a senior attending medical oncologist in the Early Drug Development (DITEP), GI and Head and Neck units. Dr. Ferté has served as co-chair of the iRECIST group, part of the official RECIST working group, since 2019, and has co-authored 60+ patents and publications in peer-reviewed journals across multiple oncology disease areas.

    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.

    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 clinical development plans and timelines of the programs across Relay Therapeutics' portfolio. 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 failure to close the acquisition on a timely basis or at all, 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  10. Relay Therapeutics' leadership in this new breed of biotech positions the company as a strategic partner of choice for emerging technologies and founders in these fields

    ZebiAI amplifies Relay Therapeutics' Dynamo™ platform with a library of industry-leading experimental DEL data sets and validated machine learning models deployed in hit finding and optimization of novel medicines

    Relay Therapeutics to host conference call at 8:00 a.m. ET

    CAMBRIDGE, Mass., April 16, 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 acquisition of ZebiAI, a pioneer in…

    Relay Therapeutics' leadership in this new breed of biotech positions the company as a strategic partner of choice for emerging technologies and founders in these fields

    ZebiAI amplifies Relay Therapeutics' Dynamo™ platform with a library of industry-leading experimental DEL data sets and validated machine learning models deployed in hit finding and optimization of novel medicines

    Relay Therapeutics to host conference call at 8:00 a.m. ET

    CAMBRIDGE, Mass., April 16, 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 acquisition of ZebiAI, a pioneer in applying massive experimental DNA encoded library data sets to power machine learning for drug discovery (ML-DEL). Together, Relay Therapeutics and ZebiAI aspire to accelerate the application of machine learning across the Dynamo™ platform to potentially fast-track the finding of novel medicines against intractable targets.

    Relay Therapeutics' experienced team, leadership, and track record of integrating leading edge computational and experimental technologies positions the company as a strategic partner of choice for emerging technologies and founders in these fields. ZebiAI is the first of such technologies that will augment the Dynamo platform, and Relay Therapeutics looks forward to further investments in these areas.

    At its core, Relay Therapeutics' approach is to continually enhance the drug discovery process by accumulating purpose-built experimental data sets at each point along the discovery continuum and deploy them to strengthen the predictive power of proprietary computational tools. ZebiAI builds on Relay Therapeutics' approach by bringing a massive library of curated experimental data, validated machine learning models, a collaboration with Google's Accelerated Science Group to continue to build this computational capability, as well as a team with deep expertise in ML-DEL.

    "We are excited to welcome the ZebiAI team into Relay Therapeutics," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "We have built a unique ability over the past five years to combine diverse computational and experimental technologies to create new medicines. The combination of ZebiAI's approach with our Dynamo platform has the potential to predict more drug-like chemical starting points, reduce cycle time to compound optimization, and ultimately, increase the number and range of programs that can be developed in parallel. We aim to continue to tackle the toughest drug discovery problems to have an even greater impact on patients, and ZebiAI will help us achieve this goal."

    "We believe the combination of Relay Therapeutics' proven track record of integrating computational and experimental technologies to bring medicines into clinical development with ZebiAI's extensive experimental data sets and ML-DEL capabilities will push the boundaries of what is possible in drug discovery," said Rafael Gomez-Bombarelli, Ph.D., chief learning officer of ZebiAI and assistant professor at Massachusetts Institute of Technology who will join Relay Therapeutics as an advisor.

    Under the terms of the merger agreement, Relay Therapeutics will pay $85 million upfront, comprised of $20 million in cash and $65 million in Relay Therapeutics common stock. ZebiAI stockholders are also eligible to receive up to an additional $85 million in platform and program-related milestone payments, payable in Relay Therapeutics common stock. Additionally, if Relay Therapeutics enters partnering or collaboration agreements related to ZebiAI's platform, ZebiAI stockholders are eligible to receive 10% of the payments received within the next three years, up to an aggregate cap of $100 million payable in cash. The acquisition is subject to customary closing conditions. Upon closing of this acquisition, Relay Therapeutics continues to expect its current cash and cash equivalents will be sufficient to fund its current operating plan into 2024.

    Conference Call Information

    Relay Therapeutics will host a live webcast and conference call today beginning at 8:00 a.m. ET to discuss the ZebiAI acquisition. To access the live call, please dial (833) 540-1168 (domestic) or (929) 517-0359 (international) and refer to conference ID 7827289. A webcast of the conference call will be available under "News and Presentations" in the Media & Investors section of Relay Therapeutics' website at http://ir.relaytx.com. The archived webcast will be available on Relay Therapeutics' website approximately two hours after the conference call and will be available for 30 days following the call.

    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.

    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 completion of the pending merger with ZebiAI, including the satisfaction of the required closing conditions and the anticipated closing date; the expected strategic benefits of the acquisition, including the potential synergies of Relay Therapeutics and ZebiAI in combination and potential improvements to Relay Therapeutics' computational and experimental technologies and the Dynamo platform; Relay Therapeutics' position as a strategic partner of choice in computational and experimental technologies; expectations regarding Relay Therapeutics' further investment in these fields; the achievement and payment of certain platform and program-related milestones or entry into partnering or collaboration agreements related to ZebiAI's platform, including the expected timing and benefits thereof; 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 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 failure to close the acquisition on a timely basis or at all, 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 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

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  11. 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…

    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 optimization
    • Continued to advance three additional precision oncology programs through preclinical development
    • Expanded research efforts into genetic diseases with two preclinical programs
    • Strengthened the balance sheet with $460 million gross proceeds raised in an initial public offering
    • Announced 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 2021
    • Announce initial clinical data for RLY-4008 in the second half of 2021
    • Genentech to initiate RLY-1971 and GDC-6036 (KRAS G12C inhibitor) combination trial
    • Enter 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 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. 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 Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com

     
    Relay Therapeutics, Inc.

    Consolidated Statements of Operations and Comprehensive Loss

    (In thousands, except share and per share data)
     
      Year Ended

    December 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.



    Primary Logo

    View Full Article Hide Full Article
  12. CAMBRIDGE, 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…

    CAMBRIDGE, 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 mutations

    Abstract Number: 1455

    Session Category: Experimental and Molecular Therapeutics

    Session 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-4008

    RLY-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 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. 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 Rahmer

    Senior Vice President, Corporate Affairs and Investor Relations

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  13. 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 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. Built on unparalleled insights into protein motion…

    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 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. 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 Communications

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  14. CAMBRIDGE, Mass., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to present at the 39th Annual J.P. Morgan Healthcare Conference on Tuesday, January 12, 2021 at 4:30 p.m. ET. The presentation will be webcast live and may be accessed from the Investor page of Relay's website under Events and Presentations. An archived replay of the webcast will be available for at least 30 days following the presentation.

    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. Built on unparalleled insights into protein motion and how this dynamic behavior relates…

    CAMBRIDGE, Mass., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY) is scheduled to present at the 39th Annual J.P. Morgan Healthcare Conference on Tuesday, January 12, 2021 at 4:30 p.m. ET. The presentation will be webcast live and may be accessed from the Investor page of Relay's website under Events and Presentations. An archived replay of the webcast will be available for at least 30 days following the presentation.

    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. 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 Communications

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  15. Collaboration brings together clinical stage SHP2 and KRAS G12C inhibitors

    Relay Therapeutics will receive $75 million upfront and is eligible to receive an additional $25 million in near-term payments and $695 million in additional potential milestones,
    plus royalties on global net product sales

    Relay Therapeutics to host conference call at 8:00 a.m. ET

    CAMBRIDGE, Mass., Dec. 14, 2020 (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 it has entered into a worldwide license and collaboration agreement with Genentech, a member of the Roche Group, for the development and commercialization…

    Collaboration brings together clinical stage SHP2 and KRAS G12C inhibitors

    Relay Therapeutics will receive $75 million upfront and is eligible to receive an additional $25 million in near-term payments and $695 million in additional potential milestones,

    plus royalties on global net product sales

    Relay Therapeutics to host conference call at 8:00 a.m. ET

    CAMBRIDGE, Mass., Dec. 14, 2020 (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 it has entered into a worldwide license and collaboration agreement with Genentech, a member of the Roche Group, for the development and commercialization of RLY-1971, a potent inhibitor of SHP2. Under the collaboration, Genentech will assume development of RLY-1971 with the potential to expand into multiple combination studies including with Genentech's investigational inhibitor of KRAS G12C, GDC-6036.

    "RLY-1971 has the potential to serve as a backbone for combination therapy across numerous solid tumors and therefore represents an encouraging approach for cancer patients," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "Roche and Genentech's global footprint and deep expertise in oncology makes them the perfect partner for us to execute the broad development and commercialization of RLY-1971."

    "Genentech has a longstanding commitment to understanding the underlying biology of KRAS, the most commonly mutated oncogene and an important driver of cancer growth," said James Sabry, M.D., Ph.D., global head of pharma partnering, Roche. "We are excited to partner with Relay Therapeutics, and we believe that the combination of KRAS G12C and SHP2 inhibitors together represents a promising approach that we hope could become a new treatment option for patients with KRAS G12C mutant tumors."

    Under the terms of the agreement, Relay Therapeutics will receive $75 million in an upfront payment and is eligible to receive $25 million in additional near-term payments. Relay Therapeutics also has the right to opt in to a 50/50 U.S. profit/cost share on RLY-1971. If Relay elects to opt in, then Relay will be eligible to receive 50 percent of profits from U.S. sales and up to $410 million in additional ex-U.S. commercialization and sales-based milestone payments, as well as royalties on ex-U.S. net sales. If Relay Therapeutics elects not to opt in, then Relay will be eligible to receive up to $695 million in additional development, commercialization and sales-based milestones, as well as royalties on global net sales, anticipated to be in the low-to-mid-teens. In the event of regulatory approval of both RLY-1971 and GDC-6036 in combination, Relay Therapeutics is eligible to receive additional royalties. Relay Therapeutics retains the right to combine RLY-1971 with its selective FGFR2 and mutant-selective PI3Kα programs.

    With the execution of this collaboration, Relay Therapeutics anticipates it will have cash and investments to sustain its operations through 2024.

    Conference Call Information

    Relay Therapeutics will host a live webcast today beginning at 8:00 a.m. ET to discuss the collaboration. To access the live call, please dial 1 (833) 540-1168 (domestic) or 1 (929) 517-0359 (international) and refer to conference ID 8792127. A webcast of the conference call will be available under "News and Presentations" in the Investors & Media section of Relay Therapeutics' website at http://ir.relaytx.com. The archived webcast will be available on Relay Therapeutics' website approximately two hours after the conference call and will be available for 30 days following the call.

    About RLY-1971

    RLY-1971 is a potent small molecule inhibitor of Src homology region 2 domain-containing phosphatase-2 (SHP2). SHP2 is a critical signaling node and regulator that promotes cancer cell survival and growth through the RAS pathway, playing a key role in the way cancer cells develop resistance to targeted therapies. Preclinically, RLY-1971 demonstrated significant anti-tumor activity as a monotherapy in cancers with specific alterations as well as in combination with other anti-tumor agents, potentially overcoming or delaying the onset of resistance to those therapies. RLY-1971 is currently being evaluated in a first-in-human trial designed to treat patients with advanced or metastatic solid tumors. To learn more about the first-in-human clinical trial of RLY-1971, please visit here.

    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. 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 expected strategic benefits of the collaboration; the receipt of upfront and near-term payments and potential milestone and royalty payments under the collaboration; the potential of RLY-1971, including in combination with Genentech's GDC-6036; the potential therapeutic benefits of inhibiting KRAS G12C and SHP2 in combination; the Company's strategy, business plans and focus; and expectations regarding our cash runway. 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, including, but not limited to, RLY-1971 and RLY-4008; 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' Quarterly Report on Form 10-Q for the quarter ended September 30, 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, Head of Investor Relations and Communications

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Primary Logo

    View Full Article Hide Full Article
  16. CAMBRIDGE, Mass., Nov. 12, 2020 (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 reported third quarter 2020 financial results.

    "In our first quarter as a public company, I am proud of our team's unwavering focus on bringing our medicines to patients," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "In July, we completed and closed our initial public offering. In September, we dosed the first patient with our second targeted medicine, RLY-4008, the only selective small molecule inhibitor of FGFR2 in clinical development. We look forward to providing…

    CAMBRIDGE, Mass., Nov. 12, 2020 (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 reported third quarter 2020 financial results.

    "In our first quarter as a public company, I am proud of our team's unwavering focus on bringing our medicines to patients," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "In July, we completed and closed our initial public offering. In September, we dosed the first patient with our second targeted medicine, RLY-4008, the only selective small molecule inhibitor of FGFR2 in clinical development. We look forward to providing updates across our pipeline in 2021."

    Second Quarter Financial Highlights

    Cash and Cash Equivalents: Cash, cash equivalents and investments totaled approximately $713 million as of September 30, 2020, which includes the net proceeds of $425 million from the Company's initial public offering, compared to $356 million as of December 31, 2019. The Company expects its current cash and cash equivalents will be sufficient to fund its current operating plan into 2023.

    R&D Expenses: Research and development expenses were $24 million for the third quarter of 2020, as compared to $18 million for the third quarter of 2019. This increase was primarily due to higher personnel costs, including an increase of $4.6 million in non-cash stock-based compensation expenses related to the accounting treatment of certain options granted in the first quarter of 2020, as well as an increase in costs to support our clinical trials, offset in part by a decrease in outside and consulting services for our pre-clinical candidates.

    G&A Expenses: General and administrative expenses were $12 million for the third quarter of 2020, as compared to $4 million for the third quarter of 2019. This increase was primarily due to higher personnel costs, including an increase of $6.0 million in non-cash stock-based compensation expenses related to the accounting treatment of certain options granted in the first quarter of 2020, to support our infrastructure.

    Net Loss: Net loss was $36 million for the third quarter of 2020, or a net loss per share of $3.00, as compared to a net loss of $20 million for the third quarter of 2019, or a net loss per share of $5.53.

    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. 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; and expectations regarding our cash runway and the use of capital, expenses, future accumulated deficit and other financial results in the future. 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, including, but not limited to, RLY-1971 and RLY-4008; 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 Rahmer, Head of Investor Relations and Communications

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Relay Therapeutics, Inc.

    Condensed Consolidated Statements of Operations and Comprehensive Loss

    (In thousands, except share and per share data)

    (Unaudited)



     Three Months Ended

    September 30,
     Nine Months Ended

    September 30,


     
     2020  2019  2020  2019 
    Operating expenses:    
    Research and development expenses$24,376  $18,256  $67,739  $47,899 
    General and administrative expenses 12,231   3,652   23,045   10,316 
    Total operating expenses 36,607   21,908   90,784   58,215 
    Loss from operations (36,607)  (21,908)  (90,784)  (58,215)
    Other income (expense):    
    Interest income 534   2,236   3,104   6,881 
    Other expense (5)  (1)  (8)  (58)
    Total other income (expense), net 529   2,235   3,096   6,823 
    Net loss$(36,078) $(19,673) $(87,688) $(51,392)
    Deemed dividend resulting from extinguishment upon modification

      of series C preferred stock
     (177,789)     (177,789)   
    Net loss attributable to common stockholders$(213,867) $(19,673) $(265,477) $(51,392)
    Net loss attributable to common stockholders per share, basic and

      diluted
    $(3.00) $(5.53) $(9.92) $(15.46)
    Weighted average shares of common stock, basic and diluted 71,248,846   3,556,303   26,766,687   3,323,456 
         



    Relay Therapeutics, Inc.

    Selected Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)



     September 30,

    2020
     December 31,

    2019  
       
    Cash, cash equivalents and investments$713,466 $355,816
    Working capital (1) 706,184  348,550
    Total assets 751,681  393,068
    Total liabilities 38,156  35,725
    Convertible preferred stock ---  537,781
    Total stockholders' equity (deficit) 713,525  (180,438)
    Restricted cash 878  878
       
    (1)   Working capital is defined as current assets less current liabilities.  

     

    Primary Logo

    View Full Article Hide Full Article
  17. CAMBRIDGE, Mass., Sept. 03, 2020 (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 the first patient has been dosed in a first-in-human clinical trial of RLY-4008 enriched for patients with intrahepatic cholangiocarcinoma (ICC) and other advanced solid tumors harboring a fibroblast growth factor receptor 2 (FGFR2) alteration. RLY-4008 is the only selective small molecule inhibitor of FGFR2 in clinical development.

    "We are excited to bring RLY-4008, our second targeted therapeutic, into clinical development," said Don Bergstrom, M.D., Ph.D., executive vice president of R&D of…

    CAMBRIDGE, Mass., Sept. 03, 2020 (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 the first patient has been dosed in a first-in-human clinical trial of RLY-4008 enriched for patients with intrahepatic cholangiocarcinoma (ICC) and other advanced solid tumors harboring a fibroblast growth factor receptor 2 (FGFR2) alteration. RLY-4008 is the only selective small molecule inhibitor of FGFR2 in clinical development.

    "We are excited to bring RLY-4008, our second targeted therapeutic, into clinical development," said Don Bergstrom, M.D., Ph.D., executive vice president of R&D of Relay Therapeutics. "FGFR2 altered tumors are known to respond clinically to pan-FGFR inhibitors but with limited benefit to patients. RLY-4008 is an exquisitely selective and purpose-built medicine, discovered with our Dynamo platform, designed to dramatically alter the course of disease for patients with FGFR2 altered cancers."

    The first-in-human trial is designed to evaluate the safety and tolerability of RLY-4008 in patients with advanced or metastatic solid tumors. The trial will predominantly enroll patients with molecularly identified FGFR2 fusions, mutations and amplifications during the dose escalation phase. Given RLY-4008's strong preclinical activity against both primary oncogenic alterations and acquired pan-FGFR inhibitor resistance mutations, the trial is enrolling patients who are naïve to pan-FGFR inhibitors as well as those who have been exposed to prior therapy with pan-FGFR inhibitors. In the expansion part of the trial, five cohorts are planned to evaluate genetically defined populations: 1) ICC patients with a FGFR2 fusion previously treated with a pan-FGFR inhibitor; 2) ICC patients with a FGFR2 fusion not previously treated with a pan-FGFR inhibitor; 3) patients with an FGFR2 fusion and solid tumor other than ICC; 4) advanced, unresectable solid tumor patients with focal FGFR2 amplification; 5) advanced, unresectable solid tumor patients with an oncogenic FGFR2 mutation. Trial objectives include evaluating safety, tolerability, pharmacokinetics and anti-tumor efficacy. The trial is designed to enroll up to 125 patients.

    About RLY-4008

    RLY-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 demonstrated FGFR2-dependent killing in cancer cell lines, while showing minimal inhibition of other targets, including other members of the FGFR family. 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 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. 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, including plans and timelines for pursuing development in five additional cohorts to evaluate genetically defined patient populations, the therapeutic potential and clinical benefits thereof; expectations regarding current and future interactions with the U.S. Food and Drug Administration (FDA); and Relay Therapeutics' 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 Relay Therapeutics' drug candidates, including, but not limited to, RLY-1971 and RLY-4008; 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 our planned interactions with regulatory authorities; and obtaining, maintaining and protecting our intellectual property.  These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Relay Therapeutics' Quarterly Report on Form 10-Q for the quarter ended June 30, 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, Head of Investor Relations and Communications

    617-322-0715

    prahmer@relaytx.com 

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com 

    Primary Logo

    View Full Article Hide Full Article
  18. CAMBRIDGE, Mass., Aug. 27, 2020 (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 reported second quarter 2020 financial results.

    "2020 has been a transformational year thus far for Relay Therapeutics," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "In January, we transitioned into a clinical-stage company advancing our first medicine, RLY-1971, into clinical development. Additionally, this year we grew our team by 25 percent, completed our IPO and advanced our second medicine, RLY-4008 into clinical development. With the team and balance sheet…

    CAMBRIDGE, Mass., Aug. 27, 2020 (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 reported second quarter 2020 financial results.

    "2020 has been a transformational year thus far for Relay Therapeutics," said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics. "In January, we transitioned into a clinical-stage company advancing our first medicine, RLY-1971, into clinical development. Additionally, this year we grew our team by 25 percent, completed our IPO and advanced our second medicine, RLY-4008 into clinical development. With the team and balance sheet we have in place, we look forward to executing on our mission of bringing transformative medicines to patients suffering from debilitating and life-threatening diseases."

    Second Quarter Financial Highlights

    Cash and Cash Equivalents: Cash, cash equivalents and investments totaled $312 million as of June 30, 2020, which excludes the gross proceeds of $460 million from the Company's initial public offering, compared to $356 million as of December 31, 2019. The Company expects its current cash and cash equivalents, inclusive of IPO net proceeds, will be sufficient to fund its current operating plan into 2023.

    R&D Expenses: Research and development expenses were $22 million for the second quarter of 2020, as compared to $16 million for the second quarter of 2019. This increase was primarily due to clinical trial expenses associated with RLY-1971, which commenced in 2020, and additional external costs associated with our pre-clinical candidates. These increases were partially offset by a decrease in laboratory supplies and other costs due to lower capacity as a result of the COVID-19 pandemic. Research and development expenses included $1.3 million in stock-based compensation expenses for the second quarter of 2020.

    G&A Expenses: General and administrative expenses were $6 million for the second quarter of 2020, as compared to $4 million for the second quarter of 2019. This increase was primarily due to higher personnel costs, including non-cash stock-based compensation, to support our infrastructure. General and administrative expenses included $1.7 million in stock-based compensation expenses for the second quarter of 2020.

    Net Loss: Net loss was $27 million for the second quarter of 2020, or a net loss per share of $6.06, as compared to a net loss of $18 million for the second quarter of 2019, or a net loss per share of $5.28.

    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. 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 its: strategy, business plans and focus; plans and timelines for the clinical development of RLY-4008 and RLY-1971, including expectations regarding timing and success of the current ongoing clinical trials, therapeutic potential and clinical benefits thereof; expectations regarding upcoming milestones for the Company's  other product candidates; growth as a company; expectations regarding current and future interactions with the U.S. Food and Drug Administration (FDA); uses of capital, expenses and other 2020 financial results or in the future, and the potential impact of COVID-19 on patient retention, strategy, future operations, clinical trials and preclinical development. 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, including, but not limited to, RLY-1971 and RLY-4008; 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  the final prospectus dated July 16, 2020 and filed pursuant to Rule 424(b) under the Securities of 1933, as amended, with the Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in Relay Therapeutics' 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, Head of Investor Relations and Communications

    617-322-0715

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB

    973-271-6085

    dan@1abmedia.com



    Relay Therapeutics, Inc.

    Condensed Consolidated Statements of Operations and Comprehensive Loss

    (In thousands, except share and per share data)

    (Unaudited)

         
     Three Months Ended

    June 30,
     Six Months Ended

    June 30,  
      2020   2019   2020   2019 
        
    Operating expenses:    
    Research and development expenses$21,666  $16,397  $43,363  $29,643 
    General and administrative expenses 6,053   3,508   10,814   6,664 
    Total operating expenses 27,719   19,905   54,177   36,307 
    Loss from operations (27,719)  (19,905)  (54,177)  (36,307)
    Other income (expense):    
    Interest income 998   2,368   2,570   4,645 
    Other expense (3)  ---   (3)  (57)
    Total other income (expense), net 995   2,368   2,567   4,588 
    Net loss$(26,724) $(17,537) $(51,610) $(31,719)
    Net loss per share, basic and diluted$(6.06) $(5.28) $(12.06) $(9.90)
    Weighted average shares of common stock, basic and diluted 4,408,470   3,321,045   4,281,169   3,205,103 
         



    Relay Therapeutics, Inc.

    Selected Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)

     June 30,

    2020
     December 31,

    2019


       
    Cash, cash equivalents and investments$312,206 $355,816
    Working capital (1) 303,100  348,550
    Total assets 348,035  393,068
    Total liabilities 35,646  35,725
    Convertible preferred stock 537,781  537,781
    Total stockholders' deficit 348,035  393,068
    Restricted cash 878  878
       
    (1)     Working capital is defined as current assets less current liabilities.  

     

    Primary Logo

    View Full Article Hide Full Article
  19. CAMBRIDGE, Mass., July 20, 2020 (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 the closing of its initial public offering of 23,000,000 shares of its common stock, including 3,000,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares, at a price to the public of $20.00 per share. The gross proceeds of the offering were $460.0 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Market on July 16, 2020 under the symbol "RLAY." All shares in…

    CAMBRIDGE, Mass., July 20, 2020 (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 the closing of its initial public offering of 23,000,000 shares of its common stock, including 3,000,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares, at a price to the public of $20.00 per share. The gross proceeds of the offering were $460.0 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Market on July 16, 2020 under the symbol "RLAY." All shares in the offering were offered by Relay Therapeutics.

    J.P. Morgan, Goldman Sachs & Co. LLC, Cowen, and Guggenheim Securities acted as joint book-running managers for the offering.

    A registration statement relating to these securities has been filed and was declared effective by the Securities and Exchange Commission on July 15, 2020. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 631-274-2806 and Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.

    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. 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. 

    Contact



    Investors:

    Pete Rahmer, Head of Investor Relations

    prahmer@relaytx.com

    Media:

    Dan Budwick

    1AB Media

    973-271-6085

    dan@1abmedia.com

    Primary Logo

    View Full Article Hide Full Article