Relay Therapeutics Q2 net loss narrows to $70.4M; initiates Phase 3 ReDiscover-2 trial

Relay Therapeutics, Inc.

2025-Q2 EPS reported -$0.87 revenue$8,355,000

Net loss of $70.4M ($0.41 per share) vs $92.2M ($0.69) in Q2 2024.
Cash, equivalents and investments $656.8M, expected to fund operations into 2029.
RLY-2608 + fulvestrant Phase 1b data: 10.3-month median PFS, 39% ORR in PI3Kα-mutated HR+/HER2- mBC.
Initiated Phase 3 ReDiscover-2 trial for RLY-2608 + fulvestrant vs capivasertib + fulvestrant.
R&D expenses decreased to $63.9M from $92.0M due to streamlining and license agreement.

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