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RLAY
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RLAYRelay Therapeutics, Inc.
$18.60$3.3B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
RLAY logo

Relay Therapeutics, Inc.

RLAY
NASDAQ · Oncology Biotech
$18.60
At close - Nov 6, 4:00 PM EST - USD
Market Cap$3.26B
P/E-13.9x
52W High$21.27
Volume3.19M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Cash Burn Accelerates Despite Equity Infusion

Relay Therapeutics is a clinical-stage biotech with a promising pipeline but a precarious financial profile. The company's reliance on episodic collaboration revenue and escalating R&D costs has led to persistent cash burn, with operating losses widening to -$90.8M in 2026Q2.

GrowthDecelerating
ProfitabilityNegative
ValuationReview
TechnicalsHealthy
Explore valuation models
MARKET ACTION

RLAY price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

9/12 Beats

EPS beat 9 of last 12 quarters

02

Valuation risk

-140% Peers

P/E is 140% below peer median

03

Market leadership

RS 90 · Leader

High momentum (Outperforming 90% of market)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Feb 4

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
RLAY+127.38%
S&P 500 (^GSPC)+7.63%
1-Year Return
RLAY+184.84%
S&P 500 (^GSPC)+9.69%
3-Year Return
RLAY+128.78%
S&P 500 (^GSPC)+85.86%
5-Year Return
RLAY-47.65%
S&P 500 (^GSPC)+68.35%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-13.9x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-13.9x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$0.36-98.1%
Base (Fair)$20.41+9.7%
Bull$0.41-97.8%
$0.36 Bear$20.41 Base$0.41 Bull
Current Market Price: $18.60
Trades at a 8.9% discount to Base DCF ($20.41)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$15M+53.4% YoY
Net income FY25
-$276M+18.1% YoY
Free cash flow FY25
-$236M+6.1% YoY
Operating margin FY25
-1971.6%+1750.5 pts YoY
ROIC (FY25)-37.3%
Avg ROIC 5Y-40.2%
ROE (TTM)-40.2%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate9/12 (75%)
Revenue Beat Rate4/12 (57%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 4, 2026
-$0.37+6.7%
vs -$0.40
—
vs $2M
Q3 2026
Aug 6, 2026
-$0.41-4.8%
vs -$0.39
$350,000-63.5%
vs $960,000
Q2 2026
May 5, 2026
-$0.41-17.1%
vs -$0.35
$3M-46.2%
vs $6M
Q1 2026
Feb 26, 2026
-$0.32+15.8%
vs -$0.38
$7M+41.0%
vs $5M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
GlobeNewsWire·3d ago
Relay Therapeutics Reports Third Quarter 2026 Financial Results and Corporate Updates

Phase 3 ReDiscover-2 trial in 2L breast cancer expected to complete enrollment in mid-2027 Updated data from ongoing Phase 1/2 ReInspire trial of zovegalisib in vascular anomalies to be featured in oral presentation at the 68th American Society of Hematology (ASH) Annual Meeting and Exposition; Relay to hold conference call to discuss data and provide regulatory update Shannon Campbell to lead commercial preparations for zovegalisib in breast cancer and vascular anomalies Announced second vascular anomalies program for mutant-selective TIE2 inhibitor Approximately $849 million in cash, cash equivalents and investments at end of Q3 2026  CAMBRIDGE, Mass., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease, today reported third quarter 2026 financial results and corporate updates.

GlobeNewsWire·5d ago
Relay Therapeutics to Participate in Three Upcoming Investor Conferences in November

CAMBRIDGE, Mass., Nov. 02, 2026 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease, today announced that management will participate in three upcoming fireside chats in November:

GlobeNewsWire·Oct 28, 2026
Relay Therapeutics to Announce Third Quarter 2026 Financial Results and Corporate Highlights on November 4, 2026

CAMBRIDGE, Mass., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease, will report third quarter 2026 financial results and corporate highlights after the U.S. financial markets close on Wednesday, November 4, 2026.

Defense World·Oct 12, 2026
Financial Review: Relay Therapeutics (NASDAQ:RLAY) & BioMarin Pharmaceutical (NASDAQ:BMRN)

Relay Therapeutics (NASDAQ: RLAY - Get Free Report) and BioMarin Pharmaceutical (NASDAQ: BMRN - Get Free Report) are both healthcare companies, but which is the superior stock? We will compare the two businesses based on the strength of their analyst recommendations, earnings, valuation, dividends, institutional ownership, profitability and risk. Analyst Recommendations This is a summary of recent

Filtered for Relay Therapeutics, Inc.More Headlines
04

Compare before deciding

Benchmark RLAY against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Relay Therapeutics, Inc. (RLAY)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
RLAY logoRLAYRelay Therapeutics, Inc.Current
$18.60$3.26B-13.8853.44%-2837.03%-40.25%—
KYMR logoKYMRKymera Therapeutics, Inc.
$131.73$10.84B-37.73-16.72%-341.87%-22.39%—
ARVN logoARVNArvinas, Inc.
$6.41$413.58M-44.12-0.3%-3.45%-2%—
VKTX logoVKTXViking Therapeutics, Inc.
$26.84$3.13B-5.05——-117.35%—
ERAS logoERASErasca, Inc.
$14.41$5B-15.62——-80.43%—
PRAX logoPRAXPraxis Precision Medicines, Inc.
$277.62$7.74B-23.85-100%—-34.15%—

Compare RLAY vs Peers

Relay Therapeutics, Inc. (RLAY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KYMR

Most directly comparable listed peer for RLAY.

Scale Benchmark

vs ILMN

Larger-name benchmark to compare RLAY against a more recognizable public peer.

Peer Set

Compare Top 5

vs KYMR, ARVN, VKTX, ERAS

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

RLAY SEC Filings & Documents

Relay Therapeutics, Inc. (RLAY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jun 9, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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RLAY Frequently Asked Questions

Relay Therapeutics, Inc. (RLAY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Relay Therapeutics, Inc.'s revenue?

Relay Therapeutics, Inc. (RLAY) reported $10.3M in revenue over the trailing twelve months. Revenue was $15.4M in fiscal year 2025.

How fast is Relay Therapeutics, Inc. growing?

Relay Therapeutics, Inc. (RLAY) grew revenue by 23.9% over the trailing twelve months, compared with the twelve months before.

Is RLAY profitable?

No. Relay Therapeutics, Inc. (RLAY) reported a net loss of $293.6M over the trailing twelve months.

Dividend & Returns
What is RLAY's return on equity?

Relay Therapeutics, Inc. (RLAY) had a return on equity (ROE) of -40.2% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Relay Therapeutics, Inc.'s free cash flow?

Relay Therapeutics, Inc. (RLAY) had negative free cash flow of $214.0M over the trailing twelve months.

What if you invested $1,000 in RLAY back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →