Relay Therapeutics, Inc. RLAY
We are a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease. Our Dynamo® platform integrates an array of leading-edge computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed.
Precision medicine emerged as an approach for disease treatment as the understanding of the link between genetic alterations, protein dysfunction and diseases evolved. Precision medicine aims to specifically and potently drug genetically validated target proteins (i.e., genetic variants potentially implicated in biology of disease). However, some target proteins thus far have been intractable or inadequately addressed using conventional drug discovery tools. While conventional approaches are well-suited to solving some drug discovery problems such as orthosteric site kinase inhibitors, their reliance on static images of protein fragments limits their ability to gain accurate insights into the dynamic behavior of proteins in their natural state, which in turn limits their ability to discover medicines with exquisite specificity. Our approach pivots the understanding of protein targets from the industry-standard, static view, to a novel paradigm based on fundamental insights into protein motion. We then apply these novel insights into protein motion to drug discovery and design, which we term Motion-Based Drug Design®.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.4M | $10.0M | $25.5M | $1.4M | $3.0M | $82.7M | — | — |
| R&D | — | — | — | — | — | $99.9M | $70.3M | — |
| SG&A | $56.7M | $76.6M | $75.0M | $66.0M | $57.4M | $38.6M | $13.7M | — |
| Total operating expenses | $318.1M | $382.5M | $398.5M | $300.7M | $367.7M | $138.4M | $84.0M | — |
| Operating income | -$302.7M | -$372.5M | -$373.0M | -$299.3M | -$364.7M | -$55.8M | -$84.0M | — |
| Pre-tax income | -$276.5M | -$337.7M | -$342.0M | -$290.5M | -$363.9M | -$52.4M | -$75.3M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$276.5M | -$337.7M | -$342.0M | -$290.5M | -$363.9M | -$52.4M | -$75.3M | — |
| EPS, basic | -1.61 | -2.36 | -2.79 | -2.59 | -3.82 | -5.40 | — | — |
| EPS, diluted | -1.61 | -2.36 | -2.79 | -2.59 | -3.82 | -5.40 | -21.82 | — |
| Shares, diluted (wtd. avg.) | 171.6M | 142.9M | 122.6M | 112.2M | 95.1M | 42.6M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $84.0M | $124.3M | $146.4M | $154.4M | $282.7M | $448.5M | $42.8M | $422.4M |
| Receivables | — | — | — | $306.0K | $403.0K | $75.0M | — | — |
| Total current assets | $578.3M | $809.2M | $770.1M | $1.02B | $976.2M | $770.1M | $360.5M | — |
| Property, plant and equipment | $1.7M | $5.9M | $10.9M | $11.6M | $6.5M | $6.2M | $8.1M | — |
| Other intangibles | — | — | $2.3M | $2.3M | $2.3M | — | — | — |
| Total assets | $621.3M | $871.3M | $844.0M | $1.10B | $1.01B | $799.8M | $393.1M | — |
| Accounts payable | $7.7M | $14.1M | $9.2M | $10.6M | $8.3M | $6.4M | $7.0M | — |
| Total current liabilities | $25.6M | $50.7M | $30.3M | $63.7M | $24.3M | $13.6M | $12.0M | — |
| Total liabilities | $54.3M | $93.5M | $92.0M | $149.6M | $110.6M | $36.5M | $35.7M | — |
| Retained earnings | -$2.01B | -$1.74B | -$1.40B | -$1.06B | -$768.1M | -$404.2M | -$189.5M | — |
| Total equity | $567.1M | $777.8M | $752.0M | $950.2M | $897.8M | $763.3M | -$180.4M | -$110.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$235.5M | -$249.1M | -$300.3M | -$229.5M | -$74.4M | -$102.5M | -$66.1M | — |
| Depreciation and amortisation | $3.6M | $5.5M | $5.3M | $4.1M | $3.9M | $3.5M | $2.8M | — |
| Stock-based compensation | $62.4M | $94.1M | $86.0M | $56.1M | $48.5M | $32.0M | $4.5M | — |
| Capital expenditure | $410.0K | $2.0M | $4.1M | $9.1M | $3.5M | $1.9M | $8.0M | — |
| Investing cash flow | $192.8M | -$41.1M | $257.6M | -$188.7M | -$479.5M | $81.7M | -$319.0M | — |
| Financing cash flow | $1.6M | $270.2M | $34.8M | $289.9M | $388.1M | $426.5M | $5.6M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-186929.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $82.7M | $3.0M | $1.4M | $25.5M | $10.0M | $15.4M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$75.3M | -$52.4M | -$363.9M | -$290.5M | -$342.0M | -$337.7M | -$276.5M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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