Relay Therapeutics' chief corporate development officer sells $1,752 in stock

CAMBRIDGE, MA—Rahmer Peter, the Chief Corporate Development Officer at Relay Therapeutics, Inc. (NASDAQ:RLAY), recently executed a stock sale transaction. The company, currently valued at $688 million, has seen its shares decline 62% over the past year and is trading near its 52-week low of $4.11. According to a recent SEC filing, Peter sold 400 shares of common stock on December 27, 2024, at a price of $4.38 per share, amounting to a total sale of $1,752.

This transaction was carried out to cover income tax withholding obligations following the vesting of 992 restricted stock units (RSUs) on December 26, 2024. Post-transaction, Peter holds 389,663 shares of Relay Therapeutics, which includes 370,447 shares underlying RSUs.

The sale was conducted in line with the company's policies regarding the vesting of RSUs, and Peter had no discretion over the sale.

In other recent news, Relay Therapeutics has experienced significant developments. The company's RLY-2608, a treatment for breast cancer, has shown promising results in Phase 1/2 trials, with BofA Securities reaffirming a Buy rating on the stock and projecting potential peak sales surpassing $1 billion. Relay Therapeutics has also finalized a global licensing agreement for its FGFR2 inhibitor, lirafugratinib, with Elevar Therapeutics, a subsidiary of HLB Inc (KQ:028300). This agreement could lead to up to $75 million in upfront and regulatory milestone payments, and an additional $425 million in commercial milestone payments.

Analyst firms have made various adjustments to their outlooks on Relay Therapeutics. While BofA Securities, H.C. Wainwright, and Leerink Partners maintained their positive ratings, Oppenheimer downgraded their rating due to concerns about the selectivity profile of RLY-2608. The U.S. Food and Drug Administration has also approved Roche's Itovebi, a breast cancer treatment that includes Relay Therapeutics' drug candidate. This approval was based on the successful outcomes of the Phase 3 INAVO120 trial.

Lastly, Relay Therapeutics' Phase 1 ReDiscover trial has demonstrated promising results, leading to further adjustments in analysts' outlooks. Despite these recent developments, it is important to remember that the future performance of Relay Therapeutics will be determined by various factors, including the results of ongoing trials and the company's financial health.

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