Relay Therapeutics reports Q3 2024 net loss $88.1M; RLY-2608 shows 9.2-month median PFS

Relay Therapeutics, Inc.

2024-Q3 EPS reported -$1.94 revenue$10,007,000

Net loss $88.1M ($0.63/share); revenue $0 vs $25.2M year ago (prior Genentech milestone).
Cash $839.6M at Sep 30, 2024; expected to fund operations into H2 2027.
RLY-2608 + fulvestrant interim data: 9.2-month median PFS, 33% ORR in heavily pre-treated PI3Kα-mutated breast cancer.
Plan to initiate Phase 3 pivotal trial of RLY-2608 + fulvestrant in 2L breast cancer in 2025.
Raised $230M in Sep 2024 follow-on; streamlined R&D with ~$50M annual savings, 15% workforce reduction.

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