Business
Relay Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Operational Highlights
Advanced two programs, RLY-1971 and RLY-4008, into clinical development, and on track to initiate IND enabling studies with PI3Kα mutant selective inhibitor
About this update from Relay Therapeutics, Inc.
[{"type":"text","content":"Advanced two programs, RLY-1971 and RLY-4008, into clinical development, and on track to initiate IND enabling studies with PI3Kα mutant selective inhibitor in 2021 Entered into a global collaboration with Genentech for the development and commercialization of RLY-1971 Continued to advance three additional oncology preclinical programs and extended work outside of oncology into genetic diseases with two preclinical programs $678.1 million in cash, cash equivalents and marketable securities at end of 2020, with the $75 million upfront payment received from Genentech in 2021, expected to fund operations into 2024 CAMBRIDGE, Mass., March 25, 2021 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading edge experimental and computational technologies, today reported fourth quarter and full year 2020 financial results and operational highlights. “2020 was a transformational year for Relay Therapeutics. We successfully advanced multiple programs into the clinic, evolved our platform, expanded our strong team and completed a successful IPO,” said Sanjiv Patel, M.D., president and chief executive officer. “While the last few years were spent validating our approach of combining leading edge experimental and computational techniques to create potentially life-saving therapies for patients, the next chapter will be about extending our platform leadership and delivering meaningful clinical results to support the success of our programs. 2021 will be a critical year of execution as we advance our mission of transforming drug discovery to address some of the most devastating diseases.” 2020 Corporate Highlights Initiated first-in-human clinical studies for RLY-1971 (SHP2 inhibitor) and RLY-4008 (FGFR2 inhibitor)Progressed PI3Kα mutant selective program into late lead optimizationContinued to advance three additional precision oncology programs through preclinical developmentExpanded research efforts into genetic diseases with two preclinical programsStrengthened the balance sheet with $460 million gross proceeds raised in an initial public offeringAnnounced a worldwide license and collaboration agreement with Genentech, Inc., a member of the Roche Group, for the development and commercialization of RLY-1971 2021 Anticipated Milestone...