Core Insights - Relay Therapeutics reported a strong second quarter for 2025, exceeding analyst expectations in both earnings and revenue, with GAAP earnings per share of $0.41 compared to an expected $(0.49) and GAAP revenue of $0.7 million versus an estimate of $0.07 million [1][2] Financial Performance - The company achieved a year-over-year reduction in R&D expenses by 30.6%, amounting to $63.9 million, and a decrease in G&A expenses by 32.3%, totaling $13.6 million [2][7] - Cash, cash equivalents, and investments stood at $656.8 million as of June 30, 2025, down from $710.4 million at the end of Q1 2025, but projected to fund operations into 2029 [2][8] Clinical Development - The lead drug candidate, RLY-2608, demonstrated positive results in clinical trials, with a median progression-free survival of 10.3 months and a 39% objective response rate in patients with specific breast cancer mutations [5][6] - The initiation of the Phase 3 ReDiscover-2 trial for RLY-2608 combined with fulvestrant marks a significant milestone, with additional studies exploring combination therapies for advanced breast cancer [6][9] Strategic Focus - The company is concentrating on advancing its clinical trials, managing costs effectively, and leveraging strategic collaborations to enhance drug development and commercialization [4][10] - Relay Therapeutics did not provide specific financial guidance for future quarters but emphasized the importance of enrolling patients for the pivotal Phase 3 trial of RLY-2608 [9][10]