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Relay Therapeutics(RLAY) - 2023 Q3 - Quarterly Report
2023-11-02 20:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39385 RELAY THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorpo ...
Relay Therapeutics(RLAY) - 2023 Q2 - Quarterly Report
2023-08-08 20:25
PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited H1 2023 financial statements show decreased assets, widened net loss, and increased operating cash outflow, driven by higher R&D expenses [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2023, total assets decreased to **$962.0 million** from **$1.1 billion**, primarily due to reduced cash and investments Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $145,902 | $151,794 | | Investments | $725,671 | $847,123 | | **Total Assets** | **$962,016** | **$1,099,771** | | **Liabilities & Equity** | | | | Total Liabilities | $151,897 | $149,553 | | Total Stockholders' Equity | $810,119 | $950,218 | | **Total Liabilities and Stockholders' Equity** | **$962,016** | **$1,099,771** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Net losses increased for Q2 and H1 2023, driven by substantially higher research and development expenses Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | H1 2023 | H1 2022 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $119 | $365 | $345 | $784 | | Research and development expenses | $88,201 | $60,511 | $171,028 | $112,178 | | General and administrative expenses | $20,120 | $17,465 | $39,699 | $33,533 | | Loss from operations | $(106,050) | $(77,811) | $(207,227) | $(140,532) | | Net loss | $(98,505) | $(76,788) | $(192,744) | $(138,834) | | Net loss per share, basic and diluted | $(0.81) | $(0.71) | $(1.59) | $(1.28) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased for H1 2023, while investing activities provided cash, mainly from investment maturities Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(135,731) | $(106,266) | | Net cash provided by (used in) investing activities | $126,591 | $(68,996) | | Net cash provided by financing activities | $3,377 | $2,879 | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(5,763)** | **$(172,383)** | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's clinical-stage business, accumulated deficit, fair value measurements, and collaboration agreements - The company is a clinical-stage precision medicine company with lead product candidates RLY-4008, RLY-2608, GDC-1971, and RLY-5836 in clinical development[30](index=30&type=chunk) - As of June 30, **2023**, the company had an **accumulated deficit of $1.3 billion** and expects existing cash to **fund operations for at least one year** from the issuance date of the financial statements[34](index=34&type=chunk) - The **fair value of the contingent consideration liability related to the ZebiAI acquisition was $29.2 million** as of June 30, **2023**, a decrease from **$32.4 million** at year-end **2022**[49](index=49&type=chunk) - **Revenue recognized from the Genentech Agreement was $0.1 million and $0.3 million** for the three and six months ended June 30, **2023**, respectively[63](index=63&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the clinical-stage pipeline, increased operating expenses from R&D, and liquidity, projecting funds sufficient into H2 2025 [Overview](index=18&type=section&id=Overview) The company is a clinical-stage precision medicine company advancing key oncology and genetic disease programs, financed through equity and collaborations - The company is advancing a pipeline of medicines including RLY-4008, RLY-2608, GDC-1971, and RLY-5836, all in clinical development[76](index=76&type=chunk) - RLY-4008 is being developed for FGFR2-altered solid tumors, with a potential registrational path in CCA. Interim data showed an **88% ORR** in treatment-naïve, FGFR2-fusion CCA patients at the pivotal dose[77](index=77&type=chunk) - RLY-2608, a pan-mutant PI3Kα inhibitor, is in a first-in-human trial. Initial data showed selective target engagement and a favorable safety profile with **no Grade 3 hyperglycemia**, diarrhea, or rash[77](index=77&type=chunk)[78](index=78&type=chunk) - The company has financed operations through public offerings, including a September **2022** offering that **raised $284.7 million** net, and has **received $110.0 million** from its Genentech agreement as of June 30, **2023**[80](index=80&type=chunk)[81](index=81&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Operating results for Q2 and H1 2023 show increased R&D and G&A expenses, leading to larger net losses, partially offset by higher other income Comparison of Results for the Six Months Ended June 30 (in thousands) | Metric | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | License and other revenue | $345 | $784 | $(439) | | Research and development expenses | $171,028 | $112,178 | $58,850 | | General and administrative expenses | $39,699 | $33,533 | $6,166 | | Net loss | $(192,744) | $(138,834) | $(53,910) | - The **$58.9 million increase** in H1 **2023** R&D expenses was driven by a **$29.9 million rise** in external costs for clinical trials (RLY-4008, RLY-2608, RLY-5836) and an **$18.6 million increase** in employee-related costs[118](index=118&type=chunk) - The **$6.2 million increase** in H1 **2023** G&A expenses was primarily due to a **$6.8 million rise** in employee-related costs, mostly from increased stock compensation[120](index=120&type=chunk) [Liquidity and Capital Resources](index=25&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company held **$871.6 million** in cash and investments, projected to fund operations into H2 2025 - The company had **cash, cash equivalents, and investments of $871.6 million** as of June 30, **2023**[122](index=122&type=chunk) - Management projects the current cash position will **fund operating expenses and capital requirements into the second half of 2025**[135](index=135&type=chunk) Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Cash used in operating activities | $(135,731) | $(106,266) | | Cash provided by (used in) investing activities | $126,591 | $(68,996) | | Cash provided by financing activities | $3,377 | $2,879 | [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risk is interest rate exposure on investments, with foreign currency risk deemed immaterial - The company is exposed to interest rate risk on its portfolio of cash equivalents and investments. A hypothetical **100 basis point** adverse change is **not expected to have a material impact**[146](index=146&type=chunk) - Foreign currency exchange risk is **not material** as operations are located in the U.S. and expenses are generally denominated in U.S. dollars[148](index=148&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were **effective as of June 30, 2023**, with **no material changes in internal control over financial reporting** - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective as of June 30, 2023**[150](index=150&type=chunk) - **No changes in internal control over financial reporting occurred** during the quarter ended June 30, **2023**, that materially affected or are likely to materially affect internal controls[151](index=151&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is **not currently a party to any legal proceedings** expected to have a material adverse effect on its business - The company is **not currently a party to any litigation or legal proceedings that are probable to have a material adverse effect** on its business[154](index=154&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) The company faces extensive risks including clinical trial uncertainty, third-party dependence, capital needs, competition, intellectual property, and regulatory challenges - The company has **never successfully completed any clinical trials** and may be unable to do so, which could lead to delays or failure in commercializing its product candidates[156](index=156&type=chunk) - The company relies on a collaboration with D. E. Shaw Research and its proprietary supercomputer, Anton 2, for its drug discovery platform; termination of this agreement could materially harm the business[204](index=204&type=chunk) - The company has incurred significant operating losses since inception, with an **accumulated deficit of $1.3 billion** as of June 30, **2023**, and will **need to raise substantial additional funding** to continue operations[238](index=238&type=chunk)[246](index=246&type=chunk) - The company faces **substantial competition** from major pharmaceutical and biotechnology companies with greater financial resources and expertise[195](index=195&type=chunk)[197](index=197&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=71&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - **None**[388](index=388&type=chunk) [Other Information](index=71&type=section&id=Item%205.%20Other%20Information) On August 3, 2023, the company entered a retention agreement with Peter Rahmer for a cash award, contingent on continued employment - On August 3, **2023**, the company entered into a retention agreement with Peter Rahmer, Chief Corporate Development Officer, for a **cash award totaling up to $600,000**, payable in two tranches in **2024**, contingent on continued employment[389](index=389&type=chunk)[390](index=390&type=chunk) [Exhibits](index=73&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance, collaboration amendments, and SEC certifications - Key exhibits filed include Amendment No. AR4 to the DESRES Agreement, an Amended and Restated Non-Employee Director Compensation Policy, and a Retention Agreement with Peter Rahmer[393](index=393&type=chunk)
Relay Therapeutics(RLAY) - 2023 Q1 - Quarterly Report
2023-05-04 20:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39385 RELAY THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 47-3923475 (State or other jurisdi ...
Relay Therapeutics(RLAY) - 2022 Q4 - Annual Report
2023-02-23 21:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39385 RELAY THERAPEUTICS, INC. (Exact name of Registrant as specified in its Charter) | Delaware | 47-3923475 | | --- | --- | | (Sta ...
Relay Therapeutics (RLAY) Investor Presentation - Slideshow
2023-01-11 18:49
Projected human oral bioavailability ~60% and half-life ~16h Target Inhibition and Efficacy RLY-2608 – First Mutant Selective Inhibitor to Enter the Clinic Limited potency against WT PI3Kα and other PI3K isoforms 30 Favorable Favorable Tolerability | --- | --- | |-----------------------------------------------------------|-------------------------------------------------------------------| | | | | Favorable Favorable Efficacy | | | Robust tumor regression at tolerable doses in mouse model | HCC1954 | | 2500 ...
Relay Therapeutics (RLAY) Investor Presentation - Slideshow
2022-09-19 14:33
ESMO Disclosure Call Materials September 2022 Confidential | © 2022 Relay Therapeutics 1 Disclaimer This presentation contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. All statements other than statements of historical facts contained in this presentation, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, ...
Relay Therapeutics (RLAY) Investor Presentation - Slideshow
2022-08-05 18:41
Company Presentation August 2022 Confidential | © 2022 Relay Therapeutics 1 Disclaimer This presentation contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. All statements other than statements of historical facts contained in this presentation, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, object ...
Relay Therapeutics(RLAY) - 2022 Q2 - Quarterly Report
2022-08-04 20:37
[PART I. FINANCIAL INFORMATION](index=7&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Net loss decreased to $138.8 million in H1 2022 due to the absence of a 2021 in-process R&D expense [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $889.4 million as of June 30, 2022, primarily due to a reduction in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $107,736 | $280,119 | | Investments | $730,254 | $677,954 | | **Total Assets** | **$889,421** | **$1,008,443** | | Total current liabilities | $43,902 | $24,321 | | **Total Liabilities** | **$109,784** | **$110,635** | | **Total Stockholders' Equity** | **$779,637** | **$897,808** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Net loss significantly decreased in Q2 2022 to $76.8 million, primarily due to the non-recurrence of 2021 one-time expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $365 | $844 | $784 | $1,796 | | Research and development expenses | $60,511 | $45,147 | $112,178 | $75,769 | | In-process R&D expenses | $0 | $123,000 | $0 | $123,000 | | General and administrative expenses | $17,465 | $14,422 | $33,533 | $27,156 | | **Net loss** | **$(76,788)** | **$(193,399)** | **$(138,834)** | **$(235,582)** | | Net loss per share, basic and diluted | $(0.71) | $(2.10) | $(1.28) | $(2.58) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was $106.3 million in H1 2022, a significant shift from cash provided in 2021 Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(106,266) | $18,500 | | Net cash used in investing activities | $(68,996) | $(207,553) | | Net cash provided by financing activities | $2,879 | $3,176 | | **Net decrease in cash, cash equivalents and restricted cash** | **$(172,383)** | **$(185,877)** | - The significant decrease in cash from operating activities in H1 2022 compared to H1 2021 is largely due to a **$74.8 million** positive change in accounts receivable in 2021 that did not recur, related to payments from the Genentech collaboration[31](index=31&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the clinical pipeline, increased R&D expenses, and cash reserves sufficient to fund operations into at least 2025 - The company is advancing its pipeline, with RLY-4008 moving towards a potential accelerated approval path in CCA, RLY-2608 in a first-in-human trial, and RLY-1971 being developed in collaboration with Genentech[77](index=77&type=chunk) R&D and G&A Expense Comparison (in millions) | Expense Category | H1 2022 | H1 2021 | Change | | :--- | :--- | :--- | :--- | | Research & Development | $112.2 | $75.8 | +$36.4 | | General & Administrative | $33.5 | $27.2 | +$6.3 | - The company believes its cash, cash equivalents, and investments of **$838.0 million** as of June 30, 2022, will be sufficient to fund operating expenses and capital expenditure requirements into at least 2025[90](index=90&type=chunk)[134](index=134&type=chunk) - The decrease in net loss for H1 2022 compared to H1 2021 was primarily due to the non-recurrence of a **$123.0 million** in-process R&D expense and an **$11.9 million** loss on consolidation of a VIE, both related to the acquisition of ZebiAI in Q2 2021[115](index=115&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces minimal market risk from interest rate changes on investments and negligible foreign currency exchange risk due to U.S.-centric operations - The primary market risk is interest rate sensitivity on the company's investment portfolio; a hypothetical 100 basis point adverse movement is not expected to materially impact results[144](index=144&type=chunk) - Foreign currency exchange risk is not considered material as operations are mainly in the U.S. and expenses are denominated in U.S. dollars[146](index=146&type=chunk) [Item 4. Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal controls - The CEO and CFO concluded that as of June 30, 2022, the company's disclosure controls and procedures were effective[149](index=149&type=chunk) - No material changes to the internal control over financial reporting occurred during the fiscal quarter ended June 30, 2022[150](index=150&type=chunk) [PART II. OTHER INFORMATION](index=29&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) As of June 30, 2022, the company was not party to any legal proceedings expected to have a material adverse effect on its business - The company is not currently involved in any litigation or legal proceedings expected to have a material adverse effect on its business[153](index=153&type=chunk) [Item 1A. Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) The company outlines extensive risks including clinical development, third-party reliance, funding needs, competition, and intellectual property protection [Risks Related to Product Candidates](index=29&type=section&id=Risks%20Related%20to%20Our%20Product%20Candidates) Risks include the company's lack of completed clinical trials, unpredictability of early-stage data, and intense competition in product development - The company has never successfully completed any clinical trials and may be unable to do so for its product candidates (RLY-1971, RLY-4008, RLY-2608)[155](index=155&type=chunk) - Positive data from preclinical or early clinical studies are not necessarily predictive of the results of later clinical trials[167](index=167&type=chunk) - The company faces substantial competition, which may result in others developing or commercializing products more successfully[194](index=194&type=chunk) [Risks Related to Reliance on Third Parties](index=37&type=section&id=Risks%20Related%20to%20Our%20Reliance%20on%20Third%20Parties) The company heavily relies on third parties for its Dynamo™ platform, clinical trials (CROs), and manufacturing (CMOs), posing significant operational risks - The company's collaboration with D. E. Shaw Research, utilizing the proprietary Anton 2 supercomputer, is critical to its Dynamo platform, and termination could materially harm the business[204](index=204&type=chunk)[207](index=207&type=chunk) - The company relies on third parties (CROs) to conduct all its clinical trials and is dependent on them for execution and regulatory compliance[212](index=212&type=chunk) - The company contracts with third-party manufacturers (CMOs) for all its product candidates and does not own any manufacturing facilities, creating risks in supply, quality, and cost[222](index=222&type=chunk) [Risks Related to Financial Position and Capital](index=43&type=section&id=Risks%20Related%20to%20Our%20Financial%20Position%20and%20Ability%20to%20Raise%20Additional%20Capital) The company has a limited operating history, significant accumulated losses, and will require substantial additional funding to continue development programs - The company has a limited operating history, has incurred significant operating losses since inception, and anticipates continued losses, with an accumulated deficit of **$906.9 million** as of June 30, 2022[242](index=242&type=chunk) - The company will need to raise substantial additional funding, and failure to do so may force delays or elimination of product development programs[250](index=250&type=chunk) [Risks Related to Intellectual Property](index=48&type=section&id=Risks%20Related%20to%20Our%20Intellectual%20Property) Success depends on patent protection and trade secrets, facing uncertainties in biotech IP, complex collaboration terms, and potential infringement claims - The company's ability to protect its proprietary technology and obtain patent protection is crucial, but the patent position of biotech companies is highly uncertain and involves complex legal questions[265](index=265&type=chunk)[271](index=271&type=chunk) - Much of the company's R&D is performed under the DESRES Agreement, which involves joint ownership of work product and complex IP rights that could lead to disputes[268](index=268&type=chunk)[270](index=270&type=chunk) - The company may face legal proceedings from third parties alleging infringement of their IP rights, which could be uncertain, expensive, and have a material adverse effect on the business[286](index=286&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=73&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the reporting period - None[394](index=394&type=chunk) [Item 5. Other Information](index=73&type=section&id=Item%205.%20Other%20Information) The board of directors decided to hold an annual advisory vote on executive compensation based on stockholder preference - The company will hold an annual advisory 'say-on-pay' vote for executive compensation, based on stockholder preference[395](index=395&type=chunk) [Item 6. Exhibits](index=74&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents and required certifications - The exhibits filed include corporate governance documents and required certifications under the Sarbanes-Oxley Act[397](index=397&type=chunk)
Relay Therapeutics (RLAY) Investor Presentation - Slideshow
2022-06-04 15:27
Company Overview - Relay Therapeutics is a patient-driven, growth-oriented biotech company focused on validated targets and therapeutic areas [7, 8, 9] - The company utilizes the Dynamo™ Platform, integrating experimentation and computation to improve drug discovery efficiency [15, 14] - Relay Therapeutics has 3 clinical assets: RLY-2608 (PI3KαPAN), RLY-4008 (FGFR2), and RLY-1971 (SHP2), with more programs in the pipeline [33, 10] RLY-4008 (FGFR2 Inhibitor) - RLY-4008 is a highly selective and irreversible FGFR2 inhibitor [80] - Early clinical data shows tumor regressions across several tumor and alteration types, with 3 out of 6 FGFR-inhibitor naïve cholangiocarcinoma patients exhibiting confirmed partial responses (PRs) [58] - In FGFR inhibitor-naïve FGFR2-fusion+ cholangiocarcinoma, 3 out of 6 patients exhibited a confirmed PR [92] RLY-2608 (PI3KαPAN Inhibitor) - The PI3Kα opportunity represents a large market in precision oncology, with approximately 156,000 US patients with solid tumors [108] - RLY-2608 has shown mutant and isoform biochemical selectivity [120] - Preclinical studies show in vivo tumor regressions across both H1047R and E545K mutation hotspots [123] Pipeline and Future Expectations - Initial clinical data update for RLY-2608 is expected in the first half of 2023 [51] - A GDC-6036 (KRAS G12C) combo trial with RLY-1971 (SHP2) was initiated in July 2021 [51] - Relay Therapeutics reported $898 million in cash, cash equivalents, and investments as of the end of Q1 2022 [51]
Relay Therapeutics(RLAY) - 2022 Q1 - Quarterly Report
2022-05-05 20:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39385 RELAY THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporati ...