RELAY THERAP. DL-,001

Relay Therapeutics presented promising data on Zovegalisib for HR‑positive, HER2‑negative breast cancer and vascular anomalies at the Wells Fargo Healthcare Conference, highlighting an improved safety profile versus competitors. In second‑line therapy, Zovegalisib achieved a median progression‑free survival of 11 months versus 5.5 months for capivasertib; the phase III ReDiscover‑2 trial is recruiting faster than expected. In vascular anomalies, an early cohort showed a response rate of 60%, with 400 mg once daily favored as the preferred dose. Management expects FDA feedback on regulatory pathways before the end of 2024 and is preparing to transition to a commercial business model. » Más en de.investing.com

Relay Therapeutics' stock marked a 52-week high of $20.83 and is currently trading at $20.87, giving it a market capitalization of about $4.52 billion and a one-year return of roughly 496%. Analyst updates repeatedly raised price targets or initiated coverage: Citizens $26, Guggenheim $26 (Buy), Canaccord $29 (Buy), JPMorgan $28 (Overweight) and H.C. Wainwright $28 after positive Phase 2 results. The optimism is attributed to progress with Zovegalisib and ongoing studies such as ReDiscover-2 (Phase 3) and ReInspire (Phase 2). » Más en de.investing.com

Relay Therapeutics’ stock rose to a 52-week high of $19.97 and is currently trading just below that at $19.92. InvestingPro notes the stock may be overvalued at the current price compared with its fair value. Over the past year the share price climbed 432% and is up 123% year-to-date, and the company plans a share issue of about $275 million at $12 per share as well as an additional offering of $175 million. Analysts raised price targets after positive Phase‑2 data for zovegalisib (H.C. Wainwright $28, Guggenheim $26, Citizens $21). » Más en de.investing.com