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Relay Therapeutics

RLAY Rare disease Lead: Approved 2 Biotech Distilled articles ↓ 21 filings & releases ↓ Cash $124M (Sep 30, 2026) ↓ 2 verdicts ↓
DermatologyOncology Small Molecule

Market cap $4.11B 221.0M shares (10-Q, Oct 30, 2026) × $18.60 close Nov 6, 2026

Most recent annual filing: 2026-02-26

Catalyst timeline

6 trackedQuarter catalyst calendar →
  1. Zovegalisib 1L combo FDA feedbackBy YE2026Zovegalisib 1L combo FDA feedback, By YE2026, material
  2. Zovegalisib ReInspire readoutDec 14, 2026Zovegalisib ReInspire readout, Dec 14, 2026, material
  3. Zovegalisib + atirmociclib triplet 1L-supportive1H 2027Zovegalisib + atirmociclib triplet 1L-supportive, 1H 2027, notable
  4. Zovegalisib + atirmociclib AI Ph3Early 2027Zovegalisib + atirmociclib AI Ph3, Early 2027, routine
  5. Zovegalisib ReDiscover-2 enrollment donemid-2027Zovegalisib ReDiscover-2 enrollment done, mid-2027, notable
  6. DESRES exclusivity window corporate update~Aug 2027DESRES exclusivity window corporate update, ~Aug 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

Technology platforms

Dynamo

Integrates leading-edge computational and experimental approaches — including cryo-EM structural biology and long time-scale molecular dynamic simulations — to drug protein targets that have previously been intractable or inadequately addressed; enabled discovery of allosteric, pan-mutant, isoform-selective PI3Kα inhibitors; focus areas include oncology and genetic disease

Targets: PI3Kα, PIK3CA, FGFR2

Dynamo · D. E. Shaw Research

Motion-Based Drug Design platform integrating computational and experimental approaches (cryo-EM, molecular dynamics simulations, machine learning) to discover small molecule drugs against dynamic protein targets; focus areas: precision oncology and genetic diseases

Discontinued (1)

Capital (as filed)

Cash
$124M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
−$63.9M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$849M cash, runway into 2029 per the update of Nov 4, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (2)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (2 calls)

Every verdict Biotech Distilled has published on Relay Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-08-10 Watch Relay Therapeutics (RLAY) — Scientific Deep Dive for Zovegalisib and Pipeline Products Mechanism is de-risked and chemistry is elite, but at ~$4.35B the market is already pricing a Phase 3 win on uncontrolled single-arm data with managed denominators, leaving no margin of safety.
  2. 2026-11-05 Watch UPDATE: Relay Therapeutics (RLAY) - The Catalyst Gets a Date No new clinical data and a ~$4.0B market cap still pricing in a Phase 3 win on open-label numbers; the key vascular anomaly catalyst is now dated for Dec 14, warranting continued watch until confirmed, durable responses at expansion doses are shown.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (21)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Sep 1, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

10 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)