Relay Therapeutics Stock Has Jumped 60% in a Year — And One Investor Just Bought Nearly 4 Million More Shares

Core Insights - Commodore Capital increased its stake in Relay Therapeutics by approximately 3.65 million shares during Q3, raising its total holdings to 17 million shares valued at $88.7 million [2][7] - Relay Therapeutics now constitutes 4.3% of Commodore Capital's reported U.S. equity assets under management (AUM) [3][7] - Relay's share price has risen 60% over the past year, significantly outperforming the S&P 500, which increased by 13% in the same timeframe [3] Company Overview - Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision small molecule therapeutics targeting specific cancers and genetic diseases [5] - The company has a market capitalization of $1.3 billion and reported revenue of $8.4 million over the trailing twelve months (TTM) [4] - Relay's TTM net income stands at a loss of $297.6 million [4] Financial Performance - The company reduced its quarterly net loss to $74.1 million from $88.1 million year-over-year, indicating improved financial management [6] - Relay Therapeutics has a cash reserve of $596 million, which is projected to sustain operations until 2029 [6] Pipeline and Market Position - Relay Therapeutics is advancing multiple candidates in clinical trials, particularly in oncology and genetic diseases, with a focus on FGFR2-altered tumors and other specific cancer types [5][6] - Despite a 60% increase in share price over the past year, Relay's shares remain nearly 90% below their 2021 highs, highlighting the volatility in early-stage therapeutics [9]