RLAY Relay Therapeutics, Inc.
Price Chart
Executive Summary
Relay Therapeutics priced a $275M underwritten public offering of 22.9M shares at $12.00/share, representing approximately 18% dilution based on pre-offering shares outstanding. The offering is being conducted via an automatically effective shelf registration, with Jefferies, TD Cowen, Goldman Sachs, and Guggenheim as joint bookrunners. This capital raise provides substantial cash runway for the Phase 3 zovegalisib trial in HR+/HER2- breast cancer and pipeline expansion, but the dilutive structure and use of a shelf registration signal urgency to fund operations.
Key Financial Metrics
Actionable Insight
The 18% dilutive offering at $12.00/share, combined with the activist context (8-K items flagged as activist), suggests potential pressure to accelerate clinical milestones or explore strategic alternatives. Monitor for further insider selling and any updates on the zovegalisib Phase 3 trial enrollment or data readouts. The offering provides cash runway but at significant near-term dilution.
Key Facts
- Priced 22,916,667 shares at $12.00/share for gross proceeds of ~$275M
- Underwriters have 30-day option to purchase up to an additional 3,437,500 shares
- Offering represents ~18% dilution based on pre-offering share count
- Jefferies, TD Cowen, Goldman Sachs, Guggenheim Securities acting as joint bookrunners
- Expected to close on or about May 22, 2026
- Proceeds will fund Phase 3 zovegalisib trial (ReDiscover-2) in HR+/HER2- breast cancer and pipeline programs
- Offering conducted via automatically effective S-3ASR shelf registration (File No. 333-281308)
Financial Impact
$275M gross proceeds, ~18% dilution at $12.00/share
Risk Factors
- Dilution of ~18% may pressure stock price in the near term
- Activist context suggests potential for further strategic actions or board changes
- Clinical-stage biotech with no approved products; zovegalisib Phase 3 trial carries binary risk
- Underwriters' option for additional 3.4M shares could increase dilution further
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3298961 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
2d ago
|
Institutional Cluster
| $14.91 awaiting T+5 | awaiting T+5 | — | $14.81 (−0.64%) |
|
May 21, 2026
24d ago
|
8-K
| $13.53 $14.26 | ▼ −5.40% | ▼ −3.74% | $14.81 (−9.46%) |
|
May 21, 2026
25d ago
|
Press Release
| $13.66 $14.05 | ▼ −2.86% | ▼ −1.01% | $14.81 (−8.42%) |
|
May 19, 2026
26d ago
|
424B5
| $13.02 $13.90 | ▼ −6.76% | ▼ −4.96% | $14.81 (−13.75%) |
|
May 19, 2026
26d ago
|
Press Release
| $13.02 $14.43 | ▼ −10.83% | ▼ −9.59% | $14.81 (−13.75%) |
|
May 19, 2026
26d ago
|
Press Release
| $12.07 $14.43 | ▲ +19.55% | ▲ +17.26% | $14.81 (+22.70%) |
|
Apr 27, 2026
6w ago
|
8-K
| $14.95 $13.09 | ▼ −12.44% | ▼ −12.84% | $14.81 (−0.94%) |
|
Apr 27, 2026
6w ago
|
Press Release
| $14.95 $13.09 | ▼ −12.44% | ▼ −12.84% | $14.81 (−0.94%) |
|
Mar 16, 2026
12w ago
|
Press Release
| $10.13 $9.82 | ▼ −3.06% | ▼ −1.02% | $14.81 (+46.20%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access