Relay Therapeutics reports Q 4 EPS (67c), consensus (75c)

There was no material revenue for the fourth quarter of 2023 or 2022. Revenue was $25.5M for the full year 2023, as compared to $1.4M for the full year 2022. The increase was primarily due to the recognition of previously received milestone payments under the company’s Collaboration and License Agreement with Genentech, Inc.. “We made important progress across our portfolio during 2023, advancing multiple clinical programs and continuing to invest significantly in our research engine – the Dynamo platform,” said Sanjiv Patel, M.D., President and Chief Executive Officer of Relay Therapeutics. “We are very pleased with the RLY-2608 data disclosed to-date and how its clinical profile continued to mature throughout last year. Our clinical team is focused on advancing this program in the near term in both a doublet and a triplet combination, and we look forward to sharing additional data in the second half of 2024. Our Dynamo platform continues to demonstrate precision and productivity with each target we’ve chosen to-date, and we are excited to disclose at least one new program that has come out of it later this year, which is being designed to have first-in-class potential.”