Monday, Relay Therapeutics Inc. RLAY shared interim data for RLY-2608 from the ReDiscover study of RLY-2608 alone, in combination with fulvestrant, and in combination with fulvestrant and ribociclib or atirmociclib (Pfizer Inc's PFE selective CDK4 inhibitor). The clinical benefit rate (CBR) was 57% in heavily pretreated patients. RLY-2608 is a pan-mutant and isoformselective inhibitor of PI3Kα. Oppenheimer downgraded Relay Therapeutics, noting the upcoming data from competitors. "We believe that approved PI ...

CAMBRIDGE, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, announced today that it has commenced an underwritten public offering of $200 million of shares of its common stock. Relay Therapeutics also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of c ...

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 1% on Monday. The Dow traded up 1.08% to 40,781.71 while the NASDAQ rose 0.76% to 16,818.23. The S&P 500 also rose, gaining, 0.95% to 5,459.48. Check This Out: Top 3 Financials Stocks That Could Blast Off In September Leading and Lagging Sectors Consumer discretionary shares surged by 1.8% on Monday. In trading on Monday, communication services shares rose by just 0.1%. Top Headline U.S. wholesale inventories increased by 0 ...

Monday, Relay Therapeutics Inc. RLAY shared interim data for RLY-2608 from ReDiscover study, an ongoing first-in-human study, to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics and preliminary antitumor activity of RLY-2608 alone, in combination with fulvestrant, and combination with fulvestrant and ribociclib or atirmociclib (Pfizer Inc's PFE selective CDK4 inhibitor). The data showed that despite heavy pre-treatment, patients with PI3Kα-mutated, HR+, HER2- locally advanced or metasta ...

Announced 3 new programs, including genetic disease programs in vascular malformations, Fabry disease, as well as precision oncology program with NRAS-specific inhibitor Initiated global clinical trial collaboration with Pfizer for combination development of RLY-2608 + fulvestrant + atirmociclib (CDK4i) in PI3Kα-mutated HR+/HER2- metastatic breast cancer, with clinical start planned by end of 2024 Approximately $688 million in cash, cash equivalents and investments at end of Q2 2024, expected to fund operat ...

CAMBRIDGE, Mass., July 30, 2024 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, will report second quarter 2024 financial results and corporate highlights after the U.S. financial markets close on Tuesday, August 6, 2024. About Relay Therapeutics Contact: Megan Goulart 617-545-5526 mgoulart@relaytx.com Media: Dan Budwick 1AB 973-271-6085 dan@1 ...

Cash guidance remains unchanged, and is expected to fund operations into second half of 2026 CAMBRIDGE, Mass., June 06, 2024 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (NASDAQ:RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, will provide details on the company's portfolio during its New Program & Platform event today, June 6, 2024, from 8:00 to 10:00 a.m. ET. As part of the event, the company w ...

CAMBRIDGE, Mass., May 21, 2024 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today announced that management will participate in two upcoming fireside chats: The fireside chats will be webcast live and may be accessed through Relay Therapeutics' website under Events in the News & Events section through the following link: https://ir.relaytx ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) The unaudited financial statements show a net loss of $81.4 million, an improvement from the prior year, with total assets at $841.4 million and strong liquidity [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets were $841.4 million as of March 31, 2024, with total liabilities at $95.7 million, maintaining strong liquidity Balance Sheet Items (In thousands) | Balance Sheet Items (In thousands) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $152,866 | $143,736 | | Investments | $596,742 | $606,350 | | Total current assets | $770,100 | $770,103 | | **Total assets** | **$841,441** | **$843,980** | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $37,144 | $30,269 | | **Total liabilities** | **$95,677** | **$91,977** | | **Total stockholders' equity** | **$745,764** | **$752,003** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Total revenue reached $10.0 million, leading to a net loss of $81.4 million, an improvement from $94.2 million in the prior-year quarter Income Statement Items (In thousands, except per share data) | Income Statement Items (In thousands, except per share data) | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | License and other revenue | $10,007 | $226 | | Research and development expenses | $82,403 | $82,827 | | General and administrative expenses | $19,799 | $19,579 | | Loss from operations | ($90,363) | ($101,177) | | **Net loss** | **($81,387)** | **($94,239)** | | **Net loss per share, basic and diluted** | **($0.62)** | **($0.78)** | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $50.3 million, offset by $48.9 million from financing, resulting in a $9.1 million cash increase Cash Flow Activities (In thousands) | Cash Flow Activities (In thousands) | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($50,323) | ($67,130) | | Net cash provided by investing activities | $10,531 | $75,314 | | Net cash provided by financing activities | $48,922 | $1,297 | | **Net increase in cash, cash equivalents, and restricted cash** | **$9,130** | **$9,481** | [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, $10.0 million Genentech revenue, and capital raises, confirming sufficient funding for one year - The company is a clinical-stage precision medicine company with lead product candidates RLY-2608, RLY-4008 (lirafugratinib), and GDC-1971 (migoprotafib) in clinical development[30](index=30&type=chunk) - The company expects its existing cash, cash equivalents, and investments of **$749.6 million** will fund planned operating expenses and capital expenditures for at least one year from the date of the financial statements[34](index=34&type=chunk) - In Q1 2024, the company sold **1,889,597 shares** under its At-the-Market (ATM) offering, receiving net proceeds of **$17.9 million**[54](index=54&type=chunk) - In January 2024, the company completed a private placement of **2,500,000 shares**, receiving net proceeds of **$29.8 million**[55](index=55&type=chunk) - The company recognized **$10.0 million** in revenue from the Genentech Agreement during Q1 2024, related to the achievement of a specified milestone[62](index=62&type=chunk)[64](index=64&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses improved Q1 2024 net loss of $81.4 million due to milestone revenue, with $749.6 million cash expected to fund operations into 2026 - The company is advancing its pipeline, including Lirafugratinib (FGFR2 inhibitor), RLY-2608 (PI3Kα inhibitor), and Migoprotafib (SHP2 inhibitor), with several clinical trials ongoing[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk) - The company believes its cash, cash equivalents, and investments of **$749.6 million** as of March 31, 2024, will be sufficient to fund operating expenses and capital expenditure requirements into the second half of 2026[88](index=88&type=chunk)[124](index=124&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Revenue increased by $9.8 million due to a Genentech milestone, leading to an improved net loss of $81.4 million for Q1 2024 Financial Metric (In thousands) | Financial Metric (In thousands) | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | License and other revenue | $10,007 | $226 | $9,781 | | Research and development expenses | $82,403 | $82,827 | ($424) | | General and administrative expenses | $19,799 | $19,579 | $220 | | **Net loss** | **($81,387)** | **($94,239)** | **$12,852** | - The increase in revenue was primarily due to a **$10.0 million** milestone payment achieved under the Genentech Agreement in Q1 2024[105](index=105&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $749.6 million in cash and investments, with $50.3 million used in operations, sufficient to fund into 2026 Cash Flow Summary (In thousands) | Cash Flow Summary (In thousands) | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Cash used in operating activities | ($50,323) | ($67,130) | | Cash provided by investing activities | $10,531 | $75,314 | | Cash provided by financing activities | $48,922 | $1,297 | - In Q1 2024, the company received **$29.8 million** in net proceeds from a private placement and **$17.9 million** from at-the-market offerings[113](index=113&type=chunk)[114](index=114&type=chunk)[122](index=122&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risk is interest rate sensitivity on investments, with minimal impact from a 100 basis point change and negligible foreign currency risk - The company's main market risk is interest rate sensitivity on its investment portfolio, but a hypothetical **100 basis point** adverse movement is not expected to have a material impact[133](index=133&type=chunk) - Foreign currency exchange risk is not material as expenses are generally denominated in U.S. dollars[135](index=135&type=chunk) [Item 4. Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2024[137](index=137&type=chunk) - No material changes were made to the company's internal control over financial reporting during the first quarter of 2024[138](index=138&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings deemed to have a material adverse effect on its business - The company is not currently a party to any material legal proceedings[141](index=141&type=chunk) [Item 1A. Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) Key risks include clinical development uncertainty, reliance on third parties, financial losses, need for capital, competition, and intellectual property protection - The company has a limited operating history, has incurred significant operating losses since inception, and anticipates continued losses for the foreseeable future[9](index=9&type=chunk)[225](index=225&type=chunk)[227](index=227&type=chunk) - Clinical product development is a lengthy, expensive process with an uncertain outcome, and positive data from early studies are not necessarily predictive of later results[9](index=9&type=chunk)[145](index=145&type=chunk)[155](index=155&type=chunk) - The company relies on third parties to conduct clinical trials and manufacture its product candidates, which poses risks to timelines, quality, and regulatory compliance[9](index=9&type=chunk)[189](index=189&type=chunk)[197](index=197&type=chunk) - The company will need to raise substantial additional funding, and an inability to do so could force it to delay, reduce, or eliminate product development programs[9](index=9&type=chunk)[231](index=231&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=104&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In January 2024, the company completed a private placement, selling 2,500,000 shares for net proceeds of $29.8 million - In January 2024, the company sold **2,500,000 shares** of common stock in a private placement for net proceeds of **$29.8 million**[375](index=375&type=chunk) [Item 5. Other Information](index=105&type=section&id=Item%205.%20Other%20Information) This section discloses the adoption and termination of Rule 10b5-1 trading plans by several executive officers during the quarter Name (Title) | Name (Title) | Action Taken (Date) | Type of Arrangement | | :--- | :--- | :--- | | Sanjiv K. Patel (CEO) | Termination (02/26/2024) | Rule 10b5-1 trading arrangement | | Sanjiv K. Patel (CEO) | Adoption (02/27/2024) | Rule 10b5-1 trading arrangement | | Thomas Catinazzo (CFO) | Termination (01/26/2024) | Rule 10b5-1 trading arrangement | | Thomas Catinazzo (CFO) | Adoption (02/15/2024) | Rule 10b5-1 trading arrangement | | Peter Rahmer (Chief Corp. Dev. Officer) | Termination (02/15/2024) | Rule 10b5-1 trading arrangement | | Peter Rahmer (Chief Corp. Dev. Officer) | Adoption (02/22/2024) | Rule 10b5-1 trading arrangement | | Brian Adams (Chief Legal Officer) | Termination (01/23/2024) | Rule 10b5-1 trading arrangement | [Item 6. Exhibits](index=106&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed, including the Securities Purchase Agreement and certifications from the Principal Executive and Financial Officers - The report includes required certifications from the CEO and CFO (Exhibits 31.1, 31.2, 32.1) and the Securities Purchase Agreement from the January 2024 private placement (Exhibit 10.1)[379](index=379&type=chunk)

Exhibit 99.1 Relay Therapeutics Reports First Quarter 2024 Financial Results and Corporate Highlights Approximately $750 million in cash, cash equivalents and investments at end of Q1 2024, expected to fund operations into second half of 2026 Cambridge, Mass. – May 2, 2024 – Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today reported first quarter 2024 financ ...