Relay Therapeutics Inc. /zigman2/quotes/219481362/composite RLAY -0.80% disclosed Thursday terms for its initial public offering, as the Massachusetts-based cancer treatment company looks to raise up to $264.6 million, and be valued at as much as $1.47 billion. Relay is offering 14.7 million shares in the IPO, which is expected to price between $16 and $18 a share. There will be 81.58 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "RLAY." J.P. Morgan, Goldman Sachs, Cowen and Guggenheim Securities are the joint bookrunning managers. The company recorded a net loss of $24.9 million with no revenue and operating expenses of $26.5 million during the three months ended March 31, after a loss of $14.2 million on no revenue and expenses of $16.4 million in the same period a year ago. Regarding the company's lead candidates in precision oncology, it has initiated a Phase 1 trial of RLY-1971 and has completed investigational new drug enabling activities for RLY-4008. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.87% has run up 61.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.06% has gained 13.6%.