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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 (Nasdaq: RLAY) reported its Q2 2024 financial results and corporate highlights. The company announced three new programs focusing on genetic diseases and precision oncology.
Key updates include a global clinical trial collaboration with Pfizer for the combination development of RLY-2608 with fulvestrant and atirmociclib, targeting PI3Kα-mutated HR+/HER2- metastatic breast cancer, with clinical trials starting by end of 2024.
Relay has approximately $688 million in cash and investments, expected to fund operations into the second half of 2026. R&D expenses rose to $92 million, primarily due to the ReDiscover trial for RLY-2608, while G&A expenses remained steady at $20.1 million. The company posted a net loss of $92.2 million or $0.69 per share, compared to $98.5 million or $0.81 per share in Q2 2023.
Relay Therapeutics (Nasdaq: RLAY), a clinical-stage precision medicine company, has announced it will release its second quarter 2024 financial results and corporate highlights on Tuesday, August 6, 2024, after the U.S. financial markets close. The company, known for its innovative approach to drug discovery by combining advanced computational and experimental technologies, will provide insights into its financial performance and recent developments. This announcement is significant for investors and analysts tracking Relay Therapeutics' progress in the competitive biotech sector.
Relay Therapeutics, a clinical-stage precision medicine company, unveiled three new programs at its New Program & Platform event on June 6, 2024. These initiatives include two genetic disease programs targeting vascular malformations and Fabry disease, and one precision oncology program with an NRAS-specific inhibitor.
The company highlighted its Dynamo platform, which has produced multiple drug candidates and investigational new drugs since its inception in 2016. Relay plans to begin clinical trials for these new programs between 2025 and 2026.
Additionally, the company reiterated its financial stability, with a cash runway expected to support operations into the second half of 2026, backed by $750 million in cash and investments as of March 31, 2024.
Key milestones include updates on RLY-2608, expected in late 2024, and the initiation of new clinical trials in 2025.
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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