Relay Therapeutics Q1 2023 Earnings Report

Relay Therapeutics EPS Results

• Actual EPS: -$0.78
• Consensus EPS: -$0.70
• Beat/Miss: Missed by -$0.08
• One Year Ago EPS: -$0.61

Relay Therapeutics Revenue Results

• Actual Revenue: $0.23 million
• Expected Revenue: $0.16 million
• Beat/Miss: Beat by +$70.00 thousand
• YoY Revenue Growth: -46.10%

Relay Therapeutics Announcement Details

• Quarter: Q1 2023
• Date: 5/4/2023
• Time: After Market Closes

Relay Therapeutics (NASDAQ:RLAY) operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors. In addition, it has collaboration and license agreements with D. E. Shaw Research, LLC to research certain biological targets through the use of D. E. Shaw Research computational modeling capabilities focused on analysis of protein motion to develop and commercialize compounds and products directed to such targets; and Genentech, Inc. for the development and commercialization of GDC-1971. The company was formerly known as Allostery, Inc. and changed its name to Relay Therapeutics, Inc. in December 2015. Relay Therapeutics, Inc. was incorporated in 2015 and is headquartered in Cambridge, Massachusetts.