Relay Therapeutics PI3K data exceeds expectations, says Barclays

Barclays says Relay Therapeutics’ updated PI3K data in advanced breast cancer showed modified progression-free survival of 9.2 months, exceeding standard of care benchmark of 5.5 months and Street expectations of eight months. The overall response rate of 33% is also above standard of care benchmarks in the 20% range while the safety profile “remains very encouraging,” the analyst tells investors in a research note.