Relay Therapeutics gains after $275 mln equity raise

Relay Therapeutics

21/05/2026 13:09

** Shares of Relay Therapeutics RLAY.O up 2.2% premarket to $13.30 after above-target haul

** Co late Weds said it sold ~22.9 mln shares at $12 for $275 mln gross proceeds

** RLAY stock finished up 7.9% at $13.02 on Weds as co marketed $175 mln offering

** Early Tues, RLAY said its experimental treatment zovegalisib showed it can shrink vascular malformations and improve symptoms in patients with rare vascular disorders in mid-stage study

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

** Cambridge, Massachusetts-based RLAY intends to use net offering proceeds to fund R&D for current or additional pipeline candidates, for working capital, capex, among other purposes, per the prospectus

** At Weds close, RLAY stock up 54% YTD. Stock closed at $2.86 a year ago

** All 13 analysts covering the stock are bullish; median PT $22, 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))