Relay Therapeutics (RLAY)
Designs small-molecule medicines around protein motion for cancer and genetic disease.
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Develops small-molecule precision medicines for genetically defined cancers and inherited disorders through a platform built around protein motion. Zovegalisib leads the clinical pipeline in breast cancer and vascular anomalies, while a pre-commercial model depends on clinical development, regulatory approval and license revenue.
Designs small-molecule precision medicines for genetically defined cancers and inherited disorders using the Dynamo platform, which combines computational and experimental tools to study protein motion. Zovegalisib is the lead program, with late-stage development in PI3Kα-mutated breast cancer and an early-stage study in PIK3CA-driven vascular anomalies.
Extends the pipeline through an NRAS-selective inhibitor in early clinical testing for melanoma and other solid tumors, plus a Fabry disease chaperone. It retains global rights to its active internal programs, while Elevar controls development and commercialization of licensed cancer candidate lirafugratinib.
Based in Cambridge and operating in the United States, it conducts global clinical studies and generates license revenue rather than product sales. Development depends on clinical results, regulatory approval, external trial operators and contract manufacturers; no product is approved for commercial sale.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 20, 2026 | H.C. Wainwright | Reiterate | Rating: —Target: $28 | Target: $29 |
| Aug 7, 2026 | Barclays | Reiterate | Rating: —Target: $27 | Target: $30 |
| Jul 21, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $22 | Target: $31 |
| Jul 16, 2026 | Canaccord Genuity | Target | Target: — | Target: $29 |
| May 26, 2026 | Guggenheim | Reiterate | Rating: —Target: $22 | Target: $26 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $910.9M · Total debt $30.7M · Total assets $967.5M · Shareholders' equity $890.0M
- Revenue
- $350.0K
- Operating income
- −$90.8M
- Net income
- −$83.7M
No dividends on record.
| Institutions | ≈ 112.41% | 246.34M shares | |
|---|---|---|---|
| 270 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.84% | 1.84M shares | |
| 5 holders · as of Sep 9, 2026 | |||
| Strategic holders | 10.00% | 21.90M shares | |
| 1 holder · as of Aug 28, 2026 | |||
| Adds to | 123.25% | ||
219.14M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 123.25%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
SB Investment Advisers (UK) LtdInstitution | 12.73% | 27.90M | as of Jun 30, 2026 |
SVF Pauling (Cayman) LtdStrategic10 percent owner | 10.00% | 21.90M | filed Aug 28, 2026 |
FMR LLCInstitution | 9.18% | 20.11M | as of Jun 30, 2026 |
Casdin Capital, LLCInstitution | 7.32% | 16.04M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.98% | 15.29M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 8, 2026 | Sanjiv Patel | director, officer: President and CEO | −48,199 | $18.94 |
| Sep 8, 2026 | Thomas Catinazzo | officer: Chief Financial Officer | −17,717 | $18.94 |
| Sep 8, 2026 | Donald A. Bergstrom | officer: President, R&D | −8,530 | $18.97 |
| Aug 26, 2026 | Peter Rahmer | officer: See remarks | −4,508 | $20.03 |
| Aug 25, 2026 | SVF Pauling (Cayman) Ltd | 10 percent owner | −6,000,000 | $19.40 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Relay Therapeutics | $18.57 | +2.09% | $3.99B | — | — | 385.1 | −48.3% |
| Novartis (ADR) | $141.06 | +0.06% | $267.96B | 21.3 | 15.0 | 4.8 | +0.9% |
| AstraZeneca (ADR) | $167.91 | −0.11% | $260.70B | 25.2 | 15.8 | 4.2 | +6.4% |
| Celcuity | $82.84 | −1.38% | $4.10B | — | — | — | — |
| Eli Lilly | $1,164.25 | −0.05% | $1.10T | 39.1 | 28.5 | 13.8 | +47.7% |
| Revolution Medicines | $193.19 | +0.22% | $40.98B | — | — | — | — |
| Palvella Therapeutics | $155.24 | +1.19% | $2.20B | — | — | — | — |
| Median | 25.2 | 15.8 | 4.8 | +6.4% |