IPO Lockup Expiration Alert: Relay Therapeutics (RLAY)

(RTTNews) - The lockup period of Relay Therapeutics (RLAY) expires today, i.e., January 12.

Cambridge, Massachusetts-based Relay Therapeutics is a clinical-stage precision medicines company, with an initial focus in oncology.

There are three lead product candidates in the pipeline - RLY-1971, RLY-4008, and RLY-PI3K1047.

--RLY-1971 is currently in a Phase 1 dose escalation study in patients with advanced or metastatic solid tumors.

Last month, the company signed a worldwide license and collaboration agreement with Genentech for RLY-1971. As part of the deal, Relay received $75 million upfront and is eligible to receive an additional $25 million in near-term payments and $695 million in additional potential milestones, plus royalties on global net product sales.

--RLY-4008 is currently under phase I clinical trial in patients with advanced solid tumors having oncogenic FGFR2 alterations, with initial clinical update is expected in 2021.

-- RLY-PI3K1047 is anticipated to enter into IND-enabling studies in 2021.

Relay Therapeutics made its debut on The Nasdaq Global Select Market on July 16, 2020, offering its shares at a price of $20 each and as mentioned above, the 180 day lockup period expires on January 12.

RLAY opened the first day of trading on July 15 at $34.85 and closed at $35.05 that day. The stock has thus far hit a low of $32.56 and a high of $57.59.

RLAY closed Monday's trading at $37.29, down 8.31%.