Relay Therapeutics drops on $175 mln stock offering

Relay Therapeutics

19/05/2026 21:22

** Shares of Relay Therapeutics RLAY.O down 3% to $11.71 post-market as it seeks equity raise

** Cambridge, Massachusetts-based biotech firm commences $175 mln stock offering

** Jefferies, TD Cowen, Goldman Sachs and Guggenheim Securities joint bookrunners

** RLAY shares closed down 0.2% at $12.07 on Tues even after co said its experimental treatment zovegalisib showed it can shrink vascular malformations and improve symptoms in patients with rare vascular disorders in mid-stage study

** Co has ~191.6 mln shares outstanding for about $2.3 bln market cap

** At the close, stock up 43% YTD

** All 13 analysts are bullish including 6 "strong buy" ratings; median PT $21.50, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))