RLAY
Relay Therapeutics, Inc.
Next earnings Aug 5, 2026 · consensus $-0.40 EPS, $673K rev
Last earnings -0.7% on 2026-05-05
$18.56
▲ +4.09%$18.56▲ +481.82%
over 1Y
L $3.19EODHDH $18.56
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.1%
1W+7.4%
1M+28.6%
3M+93.3%
YTD+126.9%
1Y+481.8%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 19 analysts
Strong Buy
Clinical-stage biotech burning $235M/yr on $84M cash with Phase 3 readout years away — funding cliff dominates the Breakthrough designation win.
Relay is a pre-revenue, clinical-stage precision oncology company whose entire investment case rides on zovegalisib (RLY-2608), an allosteric PI3Kα inhibitor now in the global Phase 3 ReDiscover-2 trial for PIK3CA-mutated HR+/HER2- breast cancer. The February 2026 FDA Breakthrough Therapy designation is a genuine de-risking event and the MD&A's interim data language ('differentiated interim efficacy signals … encouraging interim safety and tolerability profile') supports the program, but the company itself flags it has 'never successfully completed any large-scale, pivotal clinical trials' — a Phase 3 against capivasertib plus fulvestrant is exactly that hurdle.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $3.03M | $1.38M | $25.5M | $10.0M | $15.4M |
| Gross profit | — | — | — | — | — |
| Operating income | -$365M | -$299M | -$373M | -$372M | -$303M |
| Net income | -$364M | -$291M | -$342M | -$338M | -$276M |
| Diluted EPS | -$3.82 | -$2.59 | -$2.79 | -$2.36 | -$1.61 |
| Net margin | -12012.9% | -21036.1% | -1338.7% | -3374.7% | -1800.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$3.23B
EV / EBITDA—
EV / Sales210.6
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-8.3%
FCF yield-7.1%
Quality & risk
ROIC (est.)-42.2%
Free cash flow-$236M
Total debt—
Net cash$84.0M
Altman Z-Score31.62 safe
Piotroski F-Score3/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+5.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Charter / bylaws change2026-06-09
Annual meeting: director election, bylaws amendment and shareholder vote results disclosed
- 8-K Material agreement2026-05-21
Entered into a new material definitive agreement (likely partnership/license or financing)
- 8-K Reg FD disclosure2026-05-19
Reg FD/other-events update — likely clinical or conference disclosure on zovegalisib
- 8-K Earnings results2026-05-05
Q1 2026 results; cash burn continues funding Phase 3 ReDiscover-2 of zovegalisib
- 10-Q Quarterly report2026-05-05
Q1 2026 results; cash burn continues funding Phase 3 ReDiscover-2 of zovegalisib
- DEF 14A Proxy statement2026-04-28
Annual proxy: director slate, say-on-pay, auditor ratification — routine governance
- 8-K Reg FD disclosure2026-04-27
Reg FD/other-events disclosure — likely AACR or pipeline presentation
- 8-K Reg FD disclosure2026-03-16
Reg FD/other-events update following Feb FDA Breakthrough Therapy designation
- 10-K Annual report2026-02-26
FY25: FDA Breakthrough Therapy for zovegalisib; rev $15M, NL -$276M, cash $84M
Recent filings
all on EDGAR ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗144Filing2026-06-22open ↗144Filing2026-06-22open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗4Period ending 2026-06-092026-06-10open ↗8-KPeriod ending 2026-06-092026-06-09open ↗
Frequently asked
- Is Relay Therapeutics, Inc. (RLAY) a buy?
- RLAY currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Clinical-stage biotech burning $235M/yr on $84M cash with Phase 3 readout years away — funding cliff dominates the Breakthrough designation win.
- What is Relay Therapeutics, Inc.'s quality score?
- RLAY scores 47.35294117647058/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001812364, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/25/2026, 1:17:52 PM.
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