Relay Therapeutics gains as Raymond James upgrades shares to 'strong buy'

Relay Therapeutics

19/04/2023 19:03

** Relay Therapeutics Inc's  RLAY.O  shares up 8.2% at
$12.60
    ** Brokerage Raymond James upgrades rating on stock to
"strong buy" from "outperform" on safety and selectivity of
cancer candidate RLY-2608 
    ** RLAY on Monday reported data for RLY-2608 that it said
supports initial clinical proof of mechanism, showing that
cancer candidate RLY-2608 has initial safety and tolerability
profile 
    ** Brokerage optimistic on partial response the drug
achieved with monotherapy in breast cancer patient 
    ** Lack of discontinuation and limited reductions bode well
for sustained dosing intensity, later responses and durability
of benefit - brokerage
    ** Including session's gain, company's shares down 15.8% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))