Relay Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:26 pm EDT
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Relay Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 0.119 million compared to USD 0.365 million a year ago. Net loss was USD 98.51 million compared to USD 76.79 million a year ago. Basic loss per share from continuing operations was USD 0.81 compared to USD 0.71 a year ago.
For the six months, revenue was USD 0.345 million compared to USD 0.784 million a year ago. Net loss was USD 192.74 million compared to USD 138.83 million a year ago. Basic loss per share from continuing operations was USD 1.59 compared to USD 1.28 a year ago.
Relay Therapeutics Inc. is a clinical-stage precision medicine company. The Company is focused on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The Companyâs Dynamo platform integrates an array of computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed. The Companyâs lead product candidates, such as RLY-2608, Lirafugratinib (RLY-4008), and Migoprotafib (GDC-1971). RLY-2608 is an allosteric, pan-mutant and isoform-selective phosphoinostide 3 kinase alphas (PI3Kα), inhibitor. RLY-4008, is a potent, selective, and oral small molecule inhibitor of FGFR2, a receptor tyrosine kinase that is frequently altered in certain cancers. GDC-1971 is an inhibitor of Src homology region 2 domain-containing phosphatase-2 (SHP2), as a monotherapy in patients with advanced or metastatic solid tumors.
RELAY THERAPEUTICS, INC. 
