Relay Therapeutics, Inc. - RLAY STOCK NEWS

Relay Therapeutics reported strong advancements in 2020, including two programs, RLY-1971 and RLY-4008, entering clinical development. The company raised $460 million in its IPO and secured a collaboration with Genentech for RLY-1971, boosting its finances to approximately $678.1 million. Net income reached $35.3 million in Q4 2020, a significant improvement over the previous year’s loss. R&D expenses rose to $32.1 million in Q4 2020, reflecting increased clinical trial activity. Relay emphasized 2021 as a pivotal year for executing its drug discovery mission.

RLY-4008, a novel oral small molecule inhibitor of FGFR2 developed by Relay Therapeutics, shows promising preclinical results against FGFR2-altered cancers. The drug exhibits strong activity against known resistance mutations and demonstrates efficacy in both cellular and in vivo preclinical models. The data will be presented at the AACR Annual Meeting scheduled for April 10-15 and May 17-21, 2021. Initial clinical data for RLY-4008 is expected later in 2021. The company aims to advance treatment options for patients with advanced or metastatic solid tumors.

Relay Therapeutics (Nasdaq: RLAY) will participate in a fireside chat at the Guggenheim Healthcare Talks 2021 Oncology Day on February 11, 2021, at 3:30 p.m. ET. The chat will be streamed live and can be accessed on the Investor page of Relay's website. An archived replay will be available for one year after the event. Relay Therapeutics focuses on precision medicine and utilizes its Dynamo platform to innovate drug discovery, particularly in targeted oncology. For more details, visit their website or follow them on Twitter.

Relay Therapeutics (Nasdaq: RLAY) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 4:30 p.m. ET. The presentation will be available via a live webcast on Relay’s website, with an archived replay accessible for 30 days post-event. The company focuses on innovative drug discovery using its Dynamo platform, enhancing small molecule therapies targeting oncology. Relay Therapeutics aims to revolutionize the approach to previously challenging protein targets by utilizing advanced experimental and computational techniques.

Relay Therapeutics has entered a global collaboration with Genentech to develop RLY-1971, a SHP2 inhibitor, with an upfront payment of $75 million. Additional payments could total $25 million and up to $695 million in milestone payments. Relay retains rights to combine RLY-1971 with other therapies. The collaboration aims to enhance treatment options for cancer patients, especially targeting KRAS G12C mutations. The company states this partnership secures operational funds through 2024. A conference call discussing the details is scheduled for 8:00 a.m. ET.

Relay Therapeutics, Inc. (Nasdaq: RLAY) reported its third quarter 2020 financial results, noting significant progress following its IPO in July. The company has approximately $713 million in cash, expected to fund operations into 2023. R&D expenses increased to $24 million, largely due to higher personnel costs and clinical trial support. General and administrative expenses rose to $12 million, reflecting increased personnel costs. The net loss for the quarter was $36 million, with a net loss per share of $3.00, an improvement from $5.53 in Q3 2019.

Relay Therapeutics has initiated a first-in-human clinical trial for RLY-4008, a selective FGFR2 inhibitor tailored for patients with intrahepatic cholangiocarcinoma (ICC) and other solid tumors with FGFR2 alterations. The trial's primary aim is to assess safety and tolerability, enrolling up to 125 patients across several cohorts. RLY-4008 is designed to address limitations seen with existing pan-FGFR therapies. Relay aims to leverage its Dynamo platform to explore the potential of RLY-4008 in improving treatment outcomes for FGFR2-altered cancer patients.

Relay Therapeutics reported Q2 2020 financial results, showing a significant transformation year as it advances its drug candidates. Cash and investments reached $312 million as of June 30, 2020, with expectations to fund operations into 2023.

R&D expenses rose to $22 million due to clinical trials for RLY-1971, while G&A expenses grew to $6 million. The net loss increased to $27 million, or $6.06 per share, compared to a loss of $18 million in Q2 2019. The company remains optimistic about its developmental pipeline.

Relay Therapeutics (Nasdaq: RLAY) recently closed its initial public offering, selling 23 million shares at $20.00 each, generating $460 million in gross proceeds. This includes the full exercise of the underwriters’ option for an additional 3 million shares. The shares began trading on July 16, 2020. The offering was managed by J.P. Morgan, Goldman Sachs, Cowen, and Guggenheim Securities. Relay Therapeutics focuses on precision medicine and enhancing small molecule therapeutic discovery in oncology using its innovative Dynamo platform.