Relay Therapeutics president sells shares for $2,877

CAMBRIDGE, MA—Donald A. Bergstrom, the President of Analysis and Growth at Relay Therapeutics, Inc. (NASDAQ:RLAY), has bought 657 shares of the corporate’s frequent inventory. The transaction, which occurred on December 27, 2024, was executed at a worth of $4.38 per share, totaling $2,877. The sale comes as RLAY trades close to its 52-week low of $4.11, down 62% year-to-date, although InvestingPro evaluation suggests the inventory could also be undervalued.

The sale was carried out to cowl Bergstrom’s revenue tax withholding obligations associated to the vesting of two,187 restricted inventory items (RSUs) on December 26, 2024. Following this transaction, Bergstrom holds 520,088 shares, which embody 447,790 shares underlying RSUs. The corporate maintains a robust steadiness sheet with extra cash than debt and a sturdy present ratio of 18.42, based on InvestingPro knowledge.

This transaction was carried out in accordance with Relay Therapeutics’ insurance policies relating to RSU vesting and was not at Bergstrom’s discretion. For deeper insights into insider transactions and 10+ further ProTips about RLAY, together with detailed monetary well being metrics, go to InvestingPro.

In different latest information, Relay Therapeutics has seen important developments in its drug trials and monetary place. The corporate has finalized a world licensing settlement for its FGFR2 inhibitor, lirafugratinib, with Elevar Therapeutics, a subsidiary of HLB Inc (KQ:028300). The settlement might doubtlessly deliver as much as $75 million in upfront and regulatory milestone funds to Relay Therapeutics, with a further $425 million in business milestone funds.

In a latest knowledge replace, Relay Therapeutics supplied a extra mature evaluation of RLY-2608, a therapy for second-line and past breast most cancers. Analysts from BofA Securities predict that RLY-2608 might obtain peak gross sales surpassing $1 billion. The agency reaffirmed a Purchase ranking on Relay Therapeutics, regardless of decreasing the worth goal from $21 to $20.

The U.S. Meals and Drug Administration has additionally accredited Roche’s Itovebi (inavolisib) for a selected breast most cancers therapy, which incorporates Relay Therapeutics’ drug candidate. This approval was based mostly on the profitable outcomes of the Section 3 INAVO120 trial.

Analysts’ rankings for Relay Therapeutics have diversified, with companies like H.C. Wainwright, Stifel, and Jefferies sustaining or upgrading their rankings, whereas Oppenheimer downgraded their ranking as a consequence of considerations concerning the selectivity profile of RLY-2608.

Lastly, Relay Therapeutics has initiated a $200 million underwritten public providing of its frequent inventory. The corporate’s monetary place as of the second quarter of 2024 reported a money place of roughly $688 million, anticipated to fund operations into 2026.

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