Relay Therapeutics’ chief company growth officer sells $1,752 in inventory

CAMBRIDGE, MA—Rahmer Peter, the Chief Company Growth Officer at Relay Therapeutics, Inc. (NASDAQ:RLAY), just lately executed a inventory sale transaction. The corporate, at present valued at $688 million, has seen its shares decline 62% over the previous yr and is buying and selling close to its 52-week low of $4.11. In response to a current SEC submitting, Peter bought 400 shares of frequent inventory on December 27, 2024, at a value of $4.38 per share, amounting to a complete sale of $1,752.

This transaction was carried out to cowl earnings tax withholding obligations following the vesting of 992 restricted inventory models (RSUs) on December 26, 2024. Submit-transaction, Peter holds 389,663 shares of Relay Therapeutics, which incorporates 370,447 shares underlying RSUs.

The sale was carried out according to the corporate’s insurance policies relating to the vesting of RSUs, and Peter had no discretion over the sale.

In different current information, Relay Therapeutics has skilled important developments. The corporate’s RLY-2608, a remedy for breast most cancers, has proven promising ends in Section 1/2 trials, with BofA Securities reaffirming a Purchase score on the inventory and projecting potential peak gross sales surpassing $1 billion. Relay Therapeutics has additionally finalized a worldwide licensing settlement for its FGFR2 inhibitor, lirafugratinib, with Elevar Therapeutics, a subsidiary of HLB Inc (KQ:028300). This settlement might result in as much as $75 million in upfront and regulatory milestone funds, and an extra $425 million in business milestone funds.

Analyst companies have made numerous changes to their outlooks on Relay Therapeutics. Whereas BofA Securities, H.C. Wainwright, and Leerink Companions maintained their constructive rankings, Oppenheimer downgraded their score as a consequence of issues in regards to the selectivity profile of RLY-2608. The U.S. Meals and Drug Administration has additionally permitted Roche’s Itovebi, a breast most cancers remedy that features Relay Therapeutics’ drug candidate. This approval was based mostly on the profitable outcomes of the Section 3 INAVO120 trial.

Lastly, Relay Therapeutics’ Section 1 ReDiscover trial has demonstrated promising outcomes, resulting in additional changes in analysts’ outlooks. Regardless of these current developments, you will need to do not forget that the long run efficiency of Relay Therapeutics will probably be decided by numerous elements, together with the outcomes of ongoing trials and the corporate’s monetary well being.

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