HomeEquities ScoreWhy did Relay Therapeutics Inc. (RLAY) stock plummet in the after-hours on...

Why did Relay Therapeutics Inc. (RLAY) stock plummet in the after-hours on Monday?

Relay Therapeutics Inc. (RLAY) shares declined 9.25% in after-hours on Monday, October 11, 2021, and closed the daily trading at $26.59. However, in the regular trading session of Monday, RLAY’s stock gained 4.05%. RLAY shares have fallen 30.49% over the last 12 months, and they have moved down 2.14% in the past week. Over the past three months, the stock has lost 13.29%, while over the past six months, it has declined 8.35%.

Let’s see what’s going on with the company?


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

RLAY proposed a public offering of common stock

On October 11, 2021, Relay Therapeutics, Inc (RLAY) commenced an underwritten public offering of $350 million of shares of its common stock. The underwriters can buy up to an additional fifteen per cent (15%) of the shares of common stock in 30 days.

Read More

RLAY Interim Data from Bile Duct Cancer Trial

On October 08, 2021, Relay Therapeutics, Inc. (RLAY) announced interim clinical data for RLY-4008, a highly selective irreversible and oral small molecule inhibitor of FGFR2, in a first-in-human trial in patients with FGFR2-altered cholangiocarcinoma and multiple other solid tumours. The data suggested that RLY-4008 is the first investigational therapy designed to selectively bind to FGFR2 to avoid off‐isoform toxicities for the treatment of patients with FGFR2-altered tumours.

RLAY preclinical data for RLY-2608

On October 07, 2021, Relay Therapeutics, Inc. (RLAY) announced preclinical data at the virtual AACR-NCI-EORTC Molecular Targets Conference for RLY-2608, the first allosteric, pan-mutant (H1047X, E542X and E545X) and isoform-selective PI3Kα inhibitor.

RLAY recent financial results

On August 12, 2021, Relay Therapeutics, Inc. (RLAY) reported second-quarter 2021 financial results.

Q2 2021 financial highlights

  • RLAY earned total revenue of $0.85 million in Q2 2021 compared to zero revenue in Q2 2020.
  • Research and development expenses were $180.0 million in Q2 2021 compared to 21.7 million in Q2 2020.
  • General and administrative expenses were $14.4 million in Q2 2021 compared to $6.1 million for the second quarter of 2020.
  • It suffered a net loss of $193.4 million or a net loss per share of $2.10 in Q2 2021 as compared to a net loss of $26.7 million or a net loss per share of $6.06 in Q2 2020.
  • The company ended the quarter with cash, cash equivalents and investments of approximately $671.2 million compared to $678.1 million as of December 31, 2020.

RLAY partnership with EQRx

Also on August 12, 2021, Relay Therapeutics (RLAY) and EQRx signed a worldwide strategic partnership to discover, develop, and commercialize novel medicines against validated oncology targets.

EQRx will be responsible for clinical development, regulatory and commercialization efforts of the product candidates developed, according to the agreement and Relay Therapeutics will be responsible for the discovery phase through to Investigational New Drug application filing.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

It looks like that the recent proposed public offering of common stock was the reason behind its plummeting on Monday and we are not sure how it will perform in the coming trading sessions.

Related Videos

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here