Relay Therapeutics reports Q1 EPS (62c), consensus (71c)

Reports Q1 revenue $10M, consensus $90K. The revenue increase was primarily due to a payment of $10M in connection with a milestone achieved under the company’s Collaboration and License Agreement with Genentech during Q1. As of March 31, cash, cash equivalents and investments totaled $749.6M compared to $750.1M as of December 31, 2023. The company expects its current cash, cash equivalents and investments will be sufficient to fund its current operating plan into the second half of 2026.