Investor Alert

Market Pulse Archives

July 9, 2020, 7:42 a.m. EDT

Relay Therapeutics sets IPO terms, to be valued at up to $1.5 billion

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Relay Therapeutics Inc. (RLAY)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Relay Therapeutics Inc. /zigman2/quotes/219481362/composite RLAY +3.97% 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 -0.32% has run up 61.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.25% has gained 13.6%.

US : U.S.: Nasdaq
$ 30.35
+1.16 +3.97%
Volume: 251,188
May 17, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$2.64 billion
Rev. per Employee
US : U.S.: NYSE Arca
$ 56.27
-0.18 -0.32%
Volume: 143,639
May 17, 2021 4:00p
-10.56 -0.25%
Volume: 2.27B
May 17, 2021 5:17p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.