NASDAQ$RLAY
Relay Therapeutics Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported third quarter results with a focus on RLY-2608 clinical trial progress and financial position.
Relay Therapeutics reported no revenue for Q3 2024, compared to $25.2 million in Q3 2023. Research and development expenses were $76.6 million, down from $81.5 million year-over-year. The company's net loss was $88.1 million, or $0.63 per share, compared to a net loss of $65.7 million, or $0.54 per share, in the prior year. They ended the quarter with approximately $840 million in cash, cash equivalents and investments, expected to fund operations into the second half of 2027.
- Reported interim RLY-2608 data demonstrating 9.2-month median PFS in heavily pre-treated patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer at RP2D.
- Planned to initiate 2L pivotal trial of RLY-2608 + fulvestrant in 2025.
- Raised $230 million of gross proceeds in an underwritten follow-on public offering in September 2024.
- Completed changes to streamline the research organization, collectively resulting in an expected $50 million in annual savings and workforce reduction of approximately 15%.
Headline financials
Revenue & EPS history
Relay Therapeutics · Revenue · Quarterly
$10M
Revenue by segment
Relay Therapeutics · $25.2M total across 1 segment · Q3 2023
- License and Other Revenue$25.2M—100.0%
Forward guidance
Relay Therapeutics anticipates several milestones including initial safety data for RLY-2608 + fulvestrant + ribociclib in Q4 2024, clinical trial initiation for RLY-2608 + fulvestrant + atirmociclib by the end of 2024, and RLY-2608 + fulvestrant 2L Phase 3 trial initiation in 2025.
Tailwinds
- RLY-2608 + fulvestrant + ribociclib initial safety data in the fourth quarter of 2024
- RLY-2608 + fulvestrant + atirmociclib clinical trial initiation by the end of 2024
- RLY-2608 + fulvestrant + ribociclib dose expansion initiation in the first half of 2025
- RLY-2608 + fulvestrant 2L Phase 3 trial initiation in 2025
- RLY-2608 clinical trial initiation in vascular malformations in the first quarter of 2025
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-0.5%
Avg return
30 days after
57%
13 / 23 earnings
Positive
+11.7%
Q4 2025
Best reaction
-19.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | -2.5% | +11.1% | |
| Q4 2025 | +11.7% | +10.8% | +4.8% | |
| Q3 2025 | -7.4% | -5.5% | +17.6% | |
| Q1 2025 | -4.8% | -9.6% | -2.4% | |
| Q4 2024 | -13.3% | -14.9% | -27.5% | |
| Q3 2024 | +3.2% | +3.5% | -22.5% | |
| Q2 2024 | -6.8% | -5.6% | -8.6% | |
| Q1 2024 | +5.7% | +1.2% | -3.8% | |
| Q4 2023 | -4.6% | -1.8% | -25.7% | |
| Q3 2023 | +10.1% | +19.3% | +27.4% | |
| Q2 2023 | +7.8% | +3.5% | -3.2% | |
| Q1 2023 | +0.5% | -5.3% | +2.3% | |
| Q4 2022 | -3.6% | -8.8% | -13.5% | |
| Q3 2022 | -4.3% | -6.8% | -12.4% | |
| Q2 2022 | +3.8% | -1.6% | +31.7% | |
| Q1 2022 | -19.5% | -33.5% | -31.6% | |
| Q4 2021 | +11.5% | +17.4% | +40.1% | |
| Q3 2021 | +1.7% | +0.6% | -19.6% | |
| Q2 2021 | +1.0% | +0.2% | -1.7% | |
| Q1 2021 | +5.7% | +8.5% | +23.9% | |
| Q4 2020 | -2.3% | +2.0% | -13.5% | |
| Q3 2020 | +0.5% | +13.5% | +5.7% | |
| Q2 2020 | +8.0% | +5.3% | +8.5% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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