Relay Therapeutics prices offering of stock

Relay Therapeutics, Inc. (Nasdaq: RLAY) has announced the pricing of a public offering of 11,320,755 shares of its common stock at $26.50 per share, with gross proceeds expected to reach approximately $300.0 million before underwriting discounts and expenses. The company also granted the underwriters a 30-day option to purchase up to an additional 1,698,113 shares. The offering is expected to close on or about September 15, 2022, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan, and Cowen are acting as joint book-running managers for the offering, with BofA Securities also serving as a book-running manager. The shares are being offered under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus were filed with the SEC on September 12, 2022.

Relay Therapeutics, a clinical-stage precision medicine company, is focused on developing therapies for cancer and genetic diseases using its Dynamo™ platform, which integrates computational and experimental technologies to target previously intractable proteins. The company’s lead clinical asset, zovegalisib, is currently in a Phase 3 trial for HR+/HER2- metastatic breast cancer and is also being studied for PIK3CA-driven vascular anomalies.

The offering highlights Relay Therapeutics’ ongoing efforts to secure capital for its pipeline development and clinical trials. As with all public offerings, the transaction is subject to market conditions and regulatory approvals. Investors are advised to review the prospectus and related filings for detailed information on risks and uncertainties associated with the offering. ——————

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