Business
Relay Therapeutics Reports First Quarter 2025 Financial Results and Corporate Updates
Cash runway extended into 2029 Initiation of Phase 3 ReDiscover-2 trial on track for mid-2025 Initiated Phase 1 RLY-2608 vascular malformations clinical trial
About this update from Relay Therapeutics, Inc.
[{"type":"text","content":"Cash runway extended into 2029 Initiation of Phase 3 ReDiscover-2 trial on track for mid-2025 Initiated Phase 1 RLY-2608 vascular malformations clinical trial in Q1 Extended cash runway expected to fully fund the Company meaningfully past topline data for ReDiscover-2 trial and through clinical proof-of-concept data in Vascular Malformations Approximately $710 million in cash, cash equivalents and investments at end of Q1 2025 CAMBRIDGE, Mass., May 05, 2025 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today reported first quarter 2025 financial results and corporate updates. “2025 is a year of execution across a range of high value clinical programs,” said Sanjiv Patel, M.D., President and Chief Executive Officer of Relay Therapeutics. “The ongoing changes to our cost base are designed to enable a full funding of key initiatives including generating topline data from the ReDiscover-2 trial and clinical proof-of-concept data in vascular malformations.” Strategic Cost Reductions Implemented to Extend Runway into 2029 and to Fully Fund Key Value Drivers These reductions help extend operating runway into 2029 and are aimed at funding key objectives, including: Completion of ReDiscover-2 Phase 3 trial of RLY-2608 + fulvestrant in metastatic breast cancer well past topline data readout and additional breast cancer clinical trialsExecution of RLY-2608 Phase 1 vascular malformations trial through clinical proof-of-concept dataAdvance Fabry and NRAS program to Investigational New Drug application (IND) readinessAdvance one research-stage program Specific cost reductions include: Over the past year, focused the research portfolio and platform on the highest value areas resulting in a reduction in the research run rate spend by approximately 80% Reduced research-stage programs from four to oneRecent reduction in force by approximately 70 people Executed a global out-license of RLY-4008 with Elevar Therapeutics, Inc. (Elevar) with potential for downstream economicsPhased the timing of entry into the clinic for Fabry and NRAS targeted programs RLY-2608 Highlights Breast Cancer Initiation of Phase 3 ReDiscover-2 trial of RLY-2608 + fulvestrant in PI3Kα-mutated, CDK4/6 pre-tr...