Companies /Healthcare
Relay Therapeutics Inc
NASDAQ: RLAY Biotechnology
$17.06
▼ $0.30 (−1.73%) today
Markets closed · 6:00pm ET

Relay Therapeutics (RLAY) Q1 2025 Earnings

Reported May 5, 2025, 4:10pm ET · SEC source
$-0.46
Beat +4.11%
EPS · est. $-0.48
$7.7M
Beat +69,017.91%
Revenue · est. $11,110
−0.6%
Trailing market
RLAY vs S&P since report
1 quarter
Consecutive EPS misses

How Did RLAY Stock React to Q1 2025 Earnings?

% change · around the report
−10%−5%0+5%May 5May 6report 4:10pm ETearnings−0.7%−5.1%
−10%−5%0+5%May 5May 6earnings−0.7%−5.1%
RLAY −5.1%S&P 500 −0.7%
−10%−5%0+5%May 5May 6report 4:10pm ETearnings−0.8%−5.1%
−10%−5%0+5%May 5May 6earnings−0.8%−5.1%
RLAY −5.1%NASDAQ −0.8%
−14%−7%0May 5May 13report 4:10pm ETearnings+4.1%−14.8%
−14%−7%0May 5May 13earnings+4.1%−14.8%
RLAY −14.8%S&P 500 +4.1%
−14%−7%0+7%May 5May 13report 4:10pm ETearnings+6.1%−14.8%
−14%−7%0+7%May 5May 13earnings+6.1%−14.8%
RLAY −14.8%NASDAQ +6.1%
−5.12%
Day of report
−6.35%
Next session
−10.16%
One week
+6.67%
30 days

S&P 500 over the same 30 days: +7.22%.

Did RLAY Beat Earnings? Q1 2025 Results

Yes. Relay Therapeutics reported Q1 2025 earnings of $-0.46 a share on May 5, 2025, beating the $-0.48 consensus estimate by 4.1%. Revenue was $7.7M against a $11,110 estimate.

Relay Therapeutics framed its Q1 2025 results as a story of deliberate strategic contraction, reporting a loss of $0.46 per share on revenue of $7.68 million as the clinical-stage biotech executed sweeping cost reductions designed to concentrate resources on its most advanced programs. The $7.68 million in revenue, down from $10.01 million a year ago, reflected the completion of all performance obligations under the company's out-license agreement with Elevar Therapeutics for RLY-4008. The net loss narrowed to $77.06 million from $81.39 million in Q1 2024, aided by a decline in R&D spending to $73.81 million from $82.40 million following restructuring actions that cut the research run rate by roughly 80% and reduced headcount by approximately 70 people. With $710.36 million in cash and investments on hand, management said the company is funded into 2029, a runway expected to cover topline data from the Phase 3 ReDiscover-2 trial of lead asset RLY-2608 in metastatic breast cancer, with that trial initiation on track for mid-2025.

Key Takeaways
  • Completion of all performance obligations under Elevar Exclusive License Agreement drove Q1 2025 revenue
  • Strategic cost reductions including 80% reduction in research run rate spend and workforce reduction of approximately 70 people
  • Reduction in research-stage programs from four to one

“2025 is a year of execution across a range of high value clinical programs. The ongoing changes to our cost base are designed to enable a full funding of key initiatives including generating topline data from the ReDiscover-2 trial and clinical proof-of-concept data in vascular malformations.”

Relay Therapeutics CEO, on the earnings call

What Was Relay Therapeutics's Outlook in Q1 2025?

Relay Therapeutics expects its cash, cash equivalents, and investments of approximately $710 million to fund operations into 2029, sufficient to cover topline data from the Phase 3 ReDiscover-2 trial in breast cancer and clinical proof-of-concept data in vascular malformations. The Phase 3 ReDiscover-2 trial initiation is on track for mid-2025. The company plans to advance its Fabry disease and NRAS programs to IND readiness and continue one research-stage program, while maintaining the reduced cost structure achieved through an approximately 80% cut to research run rate spending and a reduction in force of approximately 70 people.

RLAY YoY Financials

Revenue$7.7M
Operating Income$-92,548,000
Net Income$-77,065,000

Figures from SEC filings and company reports. Not investment advice.