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Jun 30, 2024
Relay Therapeutics Q2 2024 Earnings Report
Relay Therapeutics reported financial results for the second quarter of 2024 and provided corporate highlights.
Key Takeaways
Relay Therapeutics reported second quarter 2024 financial results, highlighting progress in clinical programs and expansion of the RLY-2608 development program. The company announced new pre-clinical programs and anticipates multiple data readouts later in the year. Cash reserves are expected to fund operations into the second half of 2026.
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 in PI3Kα-mutated HR+/HER2- metastatic breast cancer, with clinical start planned by end of 2024
Continued to enroll patients in the RLY-2608 (ReDiscover study)
Approximately $688 million in cash, cash equivalents and investments at end of Q2 2024, expected to fund operations into second half of 2026
Forward Guidance
Relay Therapeutics anticipates several milestones in the near future.
Positive Outlook
- RLY-2608 + fulvestrant data update in the fourth quarter of 2024
- RLY-2608 + fulvestrant + ribociclib initial safety data in the fourth quarter of 2024
- RLY-2608 + fulvestrant + atirmociclib clinical trial initiation by the end of 2024
- RLY-2608 + fulvestrant potential Phase 3 trial initiation in 2025
- Lirafugratinib: tumor agnostic data and regulatory update in the second half of 2024
Historical Earnings Impact
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Avg. Return Before/After Earnings
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