Barclays analyst Peter Lawson lowered the firm’s price target on Relay Therapeutics to $15 from $23 and keeps an Equal Weight rating on the shares following the Phase 1 data update for PI3Kalpha inhibitor RLY-2608. The analyst views the safety and tolerability profile for RLY-2608 as "encouraging" but says RLY-2608 failed to show meaningful efficacy in the early data set.
Published first on TheFly
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