Relay Therapeutics Inc ( (RLAY) ) has released its Q4 earnings. Here is a breakdown of the information Relay Therapeutics Inc presented to its investors.
Relay Therapeutics, Inc. is a clinical-stage precision medicine company focused on transforming drug discovery through advanced computational and experimental technologies, primarily targeting oncology and genetic diseases.
In its latest earnings report, Relay Therapeutics announced its financial results for the fourth quarter and full year 2024, alongside significant corporate updates. The company highlighted the progression of its RLY-2608 breast cancer program, including the anticipated initiation of a Phase 3 trial in mid-2025.
Key financial metrics revealed a net loss of $76 million for Q4 2024, an improvement from the $83.5 million loss in the same period the previous year. The company reported $781.3 million in cash, cash equivalents, and investments, ensuring funding for its upcoming clinical trials. Despite a decrease in annual revenue from $25.5 million in 2023 to $10 million in 2024, due to milestone timing under a collaboration agreement, Relay Therapeutics continues to prioritize its research and development efforts.
Strategic announcements included the presentation of interim data for RLY-2608, showing promising progression-free survival rates in breast cancer patients. The company also advanced its investigational triplet combinations and entered a global licensing agreement for lirafugratinib.
Looking ahead, Relay Therapeutics remains committed to advancing its clinical programs and leveraging its strong financial position to support ongoing and future trials, with a focus on delivering innovative therapies to patients in need.