Relay Therapeutics, Inc. · NASDAQ:RLAY
Relay Therapeutics — Corporate Update (April 2026)
25 slides from Relay Therapeutics's corporate update, Apr 27, 2026
Slide 1: Zovegalisib Triplet Disclosure April 2026
Zovegalisib Triplet Disclosure April 2026 Exhibit 99.2
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding the progress and timing of the clinical development of the programs across
Slide 3: Zovegalisib – Potential To Address 3 Large Commercial Opportunities
Zovegalisib – Potential To Address 3 Large Commercial Opportunities $2-3B $7-8B $6-8B 2L Breast Cancer 1L Breast Cancer Vascular Anomalies Note: TAM calculated based on market benchmarks and internal analysis Estimated US TAM
Slide 4: 2L Breast Cancer – Ph1/2 Data at Ph3 Dose Showed Clinically Meaningful PFS
2L Breast Cancer – Ph1/2 Data at Ph3 Dose Showed Clinically Meaningful PFS 2L Breast Cancer $2-3B Capivasertib + Fulv (4 days on, 3 off) Zovegalisib + Fulv 400mg BID (Phase 3 Dose) Ph3 regimens Zovegalisib shows favorable efficacy in 2L+ patients Interim zovegalisib data support ongoing Phase 3 tria
Slide 5: Establishing Zovega + Atirmo + AI Combinability for 1L Use
1L Breast Cancer – Establishing Zovega + Atirmo + AI Combinability for 1L Use 44% ORR Standard of Care CDK4/6 + ET vs. 40% Gr3+ AE 50-90% Gr3+ AE vs. Zovega + Atirmo + ET selected as go-forward 1L regimen; Supply agreement signed with Pfizer for atirmo Trial intended to initiate in early 2027 Effica
Slide 6: Vascular Anomalies – First Clinical Data to be Presented in May at ISSVA
Vascular Anomalies – First Clinical Data to be Presented in May at ISSVA Vascular Anomalies $6-8B International Society for the Study of Vascular Anomalies ISSVA World Congress 2026 May 19-22 Philadelphia, PA Abstract Accepted Presentation on Wednesday May 20, 2026, at 4pm ET
Slide 7: Zovegalisib – Potential To Address 3 Large Commercial Opportunities
Zovegalisib – Potential To Address 3 Large Commercial Opportunities Note: TAM calculated based on market benchmarks and internal analysis $2-3B $7-8B $6-8B 2L Breast Cancer 1L Breast Cancer Vascular Anomalies Estimated US TAM
Slide 8: 1L Breast Cancer – Large Commercial Market
1L Breast Cancer – Large Commercial Market ~35,000 Patients 1L Breast Cancer (PIK3CA mutated) Large Existing CDK4/6 Market in 1L+ ~$3B ~$4B ~$3B Estimated global sales in metastatic setting2 1. Decision Resources Group market forecast G7 drug treated HR+/HER2- patients totals ~84,000 in 2026, assume
Slide 9: PIK3CA Mutant Inhibition Provides Clear Benefit in 1L
PIK3CA Mutant Inhibition Provides Clear Benefit in 1L Breast Cancer <$150M annual sales in 20253 despite proven OS benefit Non-selective PI3Kα inhibitor has shown PFS & OS benefit in 1L INAVO1201: 1L Endocrine Resistant 91% Gr3+ AE rate1 “Dear Dr.” letter for ketoacidosis2 1L Breast Cancer Inavolisi
Slide 10: Establishing 1L Triplet Combinability in Median 3L Patients
Zovegalisib – Establishing 1L Triplet Combinability in Median 3L Patients Ideal 1L Profile of Zovegalisib Triplet Superior efficacy Comparable tolerability Supportive data from median 3L patients: Triplet similar ORR in median 3L vs. CDK4/6 + ET doublet ORR in 1L Triplet toxicity profile appropriate
Slide 11: Demonstrating Zovega + Atirmo + AI Combinability
50-90% Gr3+ AE 53-55% ORR 1L Breast Cancer – Demonstrating Zovega + Atirmo + AI Combinability Standard of Care CDK4/6 + ET Zovega + Atirmo + ET Zovega + Atirmo + ET selected as go-forward 1L regimen; Trial intended to initiate in early 2027 Triplet Doublet ReDiscover preliminary data as of 04/13/202
Slide 12: Laying the Foundation for Potential Next-Gen 1L Combos
Zovegalisib – Laying the Foundation for Potential Next-Gen 1L Combos 1L Breast Cancer Zovegalisib Zovegalisib Zovegalisib + + + Atirmociclib (CDK4-selective) Ribociclib (CDK4/6i) Palbociclib (CDK4/6i) + + + fulvestrant fulvestrant fulvestrant Zovega + Atirmo + ET Selected as preferred go-forward reg
Slide 13: Zovegalisib Triplet – Dose Escalation
Positive Drug Interaction Observed Zovegalisib Triplet – Dose Escalation Dose Escalation 1L Breast Cancer Zovega Exposure Dosing Interval Zovega + atirmo + fulv ~2.5x higher exposures of zovega with atirmo ReDiscover preliminary data as of 04/13/2026 The following data is for 62 patients dosed with
Slide 14: Atirmociclib Triplet – Demographics
Zovegalisib + Atirmociclib Triplet – Demographics 1. Baseline HbA1c ≥5.7, glucose ≥100, or medical history of pre-diabetes mellitus; 2. Visceral metastatic sites include brain, lung, liver, pleural, peritoneal involvement; 3. 3 patients received prior CDK4/6 in the adjuvant setting which is allowed
Slide 15: Zovegalisib PK Profiles with Atirmociclib + Fulvestrant
Dose proportional exposures of zovegalisib above IC80 Drug interaction observed Zovegalisib PK Profiles with Atirmociclib + Fulvestrant 1L Breast Cancer Zovega Exposure Dosing Interval Zovega + fulv Zovega + atirmo + fulv ~2.5x higher exposures of zovega with atirmo 200mg zovega (atirmo triplet) 150
Slide 16: Atirmociclib Triplet – Efficacy in Median 3L Patients
Zovegalisib + Atirmociclib Triplet – Efficacy in Median 3L Patients ReDiscover preliminary data as of 04/13/2026 2 patients (1 was pre-treated with PI3K pathway inhibitors) who discontinued prior to first post-baseline scan were included in the denominator, which are not shown; ORR includes 2 unconf
Slide 17: Zovega Triplet Efficacy Compared Favorably to CDK Regimens in 1L and 2L+
Zovega + Atirmo + Fulv1 Zovega Triplet Efficacy Compared Favorably to CDK Regimens in 1L and 2L+ Median 3L: Zovega + Atirmo + Fulv 2L+: Inavo + CDK4/6 + Fulv 1L Breast Cancer Triplet in 2L+ ORR (%) 44% ORR in median 3L 1L Endocrine Resistant: Inavo + Palbo + Fulv 1L Endocrine Sensitive: CDK4/6 + AI
Slide 18: Triplet – TRAEs ≥15%
Zovegalisib – TRAEs ≥15% 1L Breast Cancer TRAE ≥15% 40% Gr3+ TRAEs Low rates of dose reduction and discontinuation Dose reduction of zovega due to TRAE: 6 patients (9.7%) Dose discontinuation of zovega due to TRAE: 2 patients (3.2%) Diarrhea occurred intermittently & was readily managed with oral an
Slide 19: Zovega Triplet Safety Compared Favorably to CDK Regimens in 1L and 2L+
Zovega + Atirmo + Fulv1 Zovega Triplet Safety Compared Favorably to CDK Regimens in 1L and 2L+ Median 3L: Zovega + Atirmo + Fulv 2L+: Inavo + CDK4/6 + Fulv 1L Breast Cancer Triplet in 2L+ Gr3+ AE (%) 1L Endocrine Resistant: Inavo + Palbo + Fulv 1L Endocrine Sensitive: CDK4/6 + AI Doublet Ribo + AI3
Slide 20: Atirmociclib Triplet – Swimlane
Zovegalisib + Atirmociclib Triplet – Swimlane ReDiscover preliminary data as of 04/13/2026 1L Breast Cancer Cycle Median follow-up: 7.4mo 48/62 (77%) patients ongoing Median PFS not reached
Slide 21: Preliminary 1L Metastatic HR+/HER2- Breast Cancer Trial Schema
Key endpoints: Preliminary 1L Metastatic HR+/HER2- Breast Cancer Trial Schema Zovegalisib + Atirmociclib + AI CDK4/6 (investigator’s choice) + AI HR+, HER2- advanced / met BC PIK3CA mutation No prior line of tx in adv/met setting Endocrine sensitive Key eligibility criteria: mPFS (primary) OS (key s
Slide 22: Zovegalisib – Multiple Future Potential Development Options
Zovegalisib (RLY-2608) – Multiple Future Potential Development Options PIK3CA-mutated Breast Cancer 1L Breast Cancer HR+/HER2- HER2+ TNBC Zovega + ET (+/- CDK) Zovega + CDK + ET Zovega + ET1 (select populations) Zovega + fulv Zovega + Oral SERD 1. Patients who had early disease relapse on adjuvant C
Slide 23: Clinical Trial Supply Agreement with Pfizer and Next Steps
Clinical Trial Supply Agreement with Pfizer and Next Steps Plan for regulatory interaction in 2026 Aim to initiate Phase 3 trial in 1L Breast Cancer in early 2027 Relay to sponsor, fully operationalize, and fund 1L Phase 3 trial Relay retains full global rights for zovegalisib Pfizer supplies atirmo
Slide 24: Relay Tx – Clear Path to Addressing Large Commercial Opportunities
Relay Tx – Clear Path to Addressing Large Commercial Opportunities 1. Clinical benchmark references: 2L breast cancer: capivasertib + fulvestrant (CDK4/6-experienced patient sub-population of CAPItello-291, Turner N Engl J Med 2023; 388:2058-2070) ; 1L breast cancer: CDK+ET in 2L+ (PACE Ph2: SABCS 2
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