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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 has announced a clinical trial collaboration with Pfizer to evaluate a triplet combination therapy for PI3Kα-mutated HR+/HER2- metastatic breast cancer. The therapy includes Pfizer's atirmociclib, Relay's RLY-2608, and fulvestrant. This study aims to mitigate off-target toxicity associated with non-selective agents by using selective inhibitors. Pfizer will supply atirmociclib, while Relay will conduct the study, which is set to begin by the end of 2024.
Relay Therapeutics, a clinical-stage precision medicine company (Nasdaq: RLAY), will participate in two upcoming investor conferences. The management will join the TD Cowen 5th Annual Oncology Innovation Summit virtually on May 28, 2024, at 9:30 a.m. ET and the Goldman Sachs 45th Annual Global Healthcare Conference on June 12, 2024, at 8:40 a.m. ET. Both events will be webcast live and accessible through Relay Therapeutics' website, with replays available for 30 days.
Relay Therapeutics, Inc. (Nasdaq: RLAY) will host a New Program and Platform event on June 6, 2024, to disclose new programs from its existing pre-clinical pipeline and showcase how the Dynamo™ platform contributed to these discoveries. The event will offer in-person attendance to select investors and a virtual webcast for all interested parties.
Relay Therapeutics, Inc. reported first quarter 2024 financial results with $750 million in cash, cash equivalents, and investments, funding operations into the second half of 2026. The company highlighted progress in RLY-2608 development program, enrollment in RLY-2608 doublet and triplet studies, and anticipation of data updates for RLY-2608 and Lirafugratinib in the second half of 2024. Financially, revenue increased to $10.0 million, R&D expenses decreased, G&A expenses increased slightly, and net loss improved compared to the first quarter of 2023.
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