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Relay Therapeutics, Inc. (NASDAQ: RLAY) is a clinical-stage precision medicine company dedicated to transforming the drug discovery process. Headquartered in Cambridge, Massachusetts, the company focuses on combining advanced computational and experimental technologies to develop life-changing therapies. Since its inception in 2016, Relay Therapeutics has been pioneering a new paradigm in the pharmaceutical industry by placing protein motion at the core of drug discovery.
The company's flagship platform, Dynamo™, integrates cutting-edge computational and experimental approaches to target protein structures that are either intractable or inadequately addressed by current therapies. This platform has enabled the development of multiple promising drug candidates, particularly in the fields of precision oncology and genetic diseases. Key product candidates include RLY-4008, RLY-2608, and GDC-1971 (formerly RLY-1971).
Relay Therapeutics' recent corporate highlights include significant advancements in its RLY-2608 program, aimed at treating patients with PI3Kα-mutated HR+/HER2- breast cancer. The company's development pipeline has been robust, with expectations to disclose innovative programs later this year.
Financially, as of March 31, 2024, Relay Therapeutics reported cash, cash equivalents, and investments totaling approximately $749.6 million. This financial stability is projected to fund the company's operations into the second half of 2026. The company’s revenue for Q1 2024 was $10 million, primarily derived from milestone payments under a collaboration agreement with Genentech, Inc.
Relay Therapeutics has also established strategic partnerships with notable entities such as Pfizer, Nextech, and Genentech, enhancing its capability to advance its clinical and preclinical programs. The company’s innovative approach has attracted significant investment from third-party ventures, including GV (formerly Google Ventures) and Alexandria Venture Investments.
Relay Therapeutics continues to push the boundaries of what’s possible in drug discovery, aiming to improve the lives of millions of patients through precision medicine.
Relay Therapeutics (RLAY) announced updated interim data for RLY-2608, showing an 11.4-month median progression-free survival in second-line patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer at the recommended Phase 2 dose. The study demonstrated a 39% confirmed objective response rate across all patients and 67% in patients with kinase mutations.
The drug showed a favorable tolerability profile, with 94% median dose intensity and mostly low-grade treatment-related adverse events. Among 64 patients at the recommended dose, only 31% experienced Grade 3 adverse events, with no Grade 4-5 events reported.
The company plans to initiate a pivotal Phase 2 study in 2025 and reported approximately $840 million in cash and investments as of Q3 2024.
Relay Therapeutics (RLAY) announced it will present updated clinical data for RLY-2608 in combination with fulvestrant for treating PI3Kα-mutated, HR+, HER2- locally advanced or metastatic breast cancer at the San Antonio Breast Cancer Symposium (December 10-13, 2024). The presentation, titled 'Efficacy of RLY-2608, a mutant-selective PI3Kα inhibitor in patients with PIK3CA-mutant HR+HER2- advanced breast cancer: ReDiscover trial', will be part of a poster spotlight session on targeting ER and PI3K pathway. The company will host a conference call on December 11, 2024, at 7:00 a.m. ET to discuss the findings.
Relay Therapeutics (RLAY) and Elevar Therapeutics have announced an exclusive global licensing agreement for lirafugratinib, a potential best-in-class FGFR2 inhibitor for treating FGFR2-driven cholangiocarcinoma and other solid tumors. Under the agreement, Elevar receives worldwide development and commercialization rights, while Relay can earn up to $500 million in payments, including $75 million in upfront and regulatory milestones, plus up to double-digit royalties on global sales. The FDA has granted lirafugratinib breakthrough therapy and orphan drug designations, and recommended filing an NDA for FGFR2-driven CCA first, followed by a supplemental NDA for other solid tumors.
Relay Therapeutics (Nasdaq: RLAY) has announced its participation in four upcoming investor conferences in November and December 2024. The company will participate in fireside chats at the Guggenheim Healthcare Innovation Conference (Nov 13), Stifel Healthcare Conference (Nov 18), Jefferies London Healthcare Conference (Nov 20), and Citizens JMP Hematology and Oncology Summit (Dec 2). All sessions will be webcast live and accessible through Relay's website, with recordings available for 30 days after each event.
Relay Therapeutics reported its third quarter 2024 financial results and corporate highlights. Key highlights include interim data for RLY-2608 + fulvestrant showing a 9.2-month median PFS in heavily pre-treated patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer. The company plans to initiate a pivotal trial in 2025.
Relay Therapeutics has $840 million in cash, expected to fund operations into the second half of 2027. Revenue for Q3 2024 was $0, down from $25.2 million in Q3 2023. R&D expenses decreased to $76.6 million, while G&A expenses increased to $19.8 million. The net loss was $88.1 million, or $0.63 per share.
Corporate highlights include a $230 million follow-on offering and a $50 million annual savings from streamlining the research organization. Looking ahead, the company plans several clinical trial initiations and expansions in 2024 and 2025.
Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, announced it will report its third quarter 2024 financial results and corporate highlights on November 6, 2024 after the U.S. financial markets close.
Relay Therapeutics (Nasdaq: RLAY) has announced the pricing of a public offering of 28,571,429 shares of its common stock at $7.00 per share. The company expects to raise approximately $200 million in gross proceeds, before deducting underwriting discounts and expenses. Underwriters have a 30-day option to purchase up to an additional 4,285,714 shares. The offering is expected to close around September 12, 2024, subject to customary conditions. Goldman Sachs & Co. , TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James as co-manager.
Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, has announced a proposed public offering of $200 million of common stock shares. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. Goldman Sachs & Co. , TD Cowen, Stifel, and BofA Securities are acting as joint book-running managers, with Raymond James as co-manager. The offering is subject to market conditions, and its completion is not guaranteed. Shares will be offered through an effective shelf registration statement previously filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be filed and made available to potential investors.
Relay Therapeutics announced positive interim data for RLY-2608, a pan-mutant and isoform-selective inhibitor of PI3Kα, in treating PI3Kα-mutated, HR+/HER2- metastatic breast cancer. Key findings include:
- 9.2-month median progression-free survival (PFS) in heavily pre-treated patients at the recommended Phase 2 dose (RP2D)
- 33% overall response rate (ORR) across all patients and 53% ORR in patients with kinase mutations at RP2D
- Favorable tolerability profile with low discontinuation rates
The company plans to initiate a 2L pivotal study in 2025 and is progressing with triplet combination studies. Relay Therapeutics expects its current cash position to fund operations into the second half of 2026.
Relay Therapeutics (Nasdaq: RLAY) has announced a webcast on September 9, 2024, at 8:00 a.m. ET to report interim data for RLY-2608. The data will focus on the 600mg BID + fulvestrant dosage in second-line and beyond, CDK4/6-experienced patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer from the ongoing ReDiscover trial.
The clinical-stage precision medicine company, known for combining computational and experimental technologies in drug discovery, will host a conference call and webcast to discuss the results and next steps. Interested parties can access the event through Relay Therapeutics' website under the Events section in News & Events. An archived replay will be available after the live presentation.
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