Relay Therapeutics, Inc. (RLAY), a clinical-stage, small-molecule precision medicine company, priced its public offering of 22.92 million shares of common stock at a public offering price of $12 per share. The gross proceeds from the offering are expected to be approximately $275 million.
In addition, the firm granted the underwriters a 30-day option to purchase up to an additional 3.44 million shares of its common stock.
The offering is expected to close on or about May 22, 2026, subject to closing conditions.
Jefferies, TD Cowen, Goldman Sachs & Co. LLC, and Guggenheim Securities are acting as joint book-running managers for the offering.
Relay Therapeutics' lead clinical asset is Zovegalisib, a pan-mutant, selective PI3Ka inhibitor, which is currently in a Phase 3 ReDiscover-2 clinical trial in HR+/HER2- metastatic breast cancer.
Zovegalisib is also being investigated in a group of genetic disease indications called PIK3CA-driven vascular anomalies.
RLAY has traded between $2.75 and $17.32 over the last year. The stock closed Wednesday's trade at $13.02, up 7.87%.
RLAY is currently up 0.54% at $13.09.
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