Companies /Healthcare

Relay Therapeutics Inc

NASDAQ: RLAY Biotechnology
$19.04
▲ $0.03 (+0.16%) today
Markets closed · 4:42pm ET

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

Market Reaction

% change · around the report
−10%−5%0+5%May 5May 6report 4:10pm ETearnings−0.8%−5.3%
−10%−5%0+5%May 5May 6earnings−0.8%−5.3%
RLAY −5.3%S&P 500 −0.8%
−10%−5%0+5%May 5May 6report 4:10pm ETearnings−0.9%−5.3%
−10%−5%0+5%May 5May 6earnings−0.9%−5.3%
RLAY −5.3%NASDAQ −0.9%
−14%−7%0May 5May 13report 4:10pm ETearnings+4.2%−14.6%
−14%−7%0May 5May 13earnings+4.2%−14.6%
RLAY −14.6%S&P 500 +4.2%
−14%−7%0+7%May 5May 13report 4:10pm ETearnings+6.2%−14.6%
−14%−7%0+7%May 5May 13earnings+6.2%−14.6%
RLAY −14.6%NASDAQ +6.2%
−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

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

Forward Guidance & Outlook

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.