(RLAY) Relay Therapeutics - Overview
Stock: RLY-2608, RLY-4008, RLY-8161, RLY-1013, AGAL Chaperone
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 73.6% |
| Relative Tail Risk | -9.20% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.22 |
| Alpha | 61.16 |
| Character TTM | |
|---|---|
| Beta | 1.816 |
| Beta Downside | 1.705 |
| Drawdowns 3y | |
|---|---|
| Max DD | 89.78% |
| CAGR/Max DD | -0.26 |
Description: RLAY Relay Therapeutics December 26, 2025
Relay Therapeutics (NASDAQ:RLAY) is a clinical-stage precision-medicine firm that leverages computational protein-motion modeling to discover small-molecule therapeutics for oncology and genetic diseases. Its lead pipeline includes RLY-2608, a pan-mutant PI3Kα inhibitor being evaluated in breast cancer, solid tumors, and vascular malformations; aGal chaperone for Fabry disease; RLY-8161 targeting RAS-driven cancers; RLY-1013, an estrogen-receptor-alpha degrader; and lirafugratinib (RLY-4008), a receptor-tyrosine-kinase inhibitor. The company partners with D.E. Shaw Research for advanced modeling, Elevar Therapeutics for RLY-4008 commercialization, and Pfizer on a RLY-2608 + fulvestrant/atiraciclib combo.
Key recent metrics: as of Q3 2024, Relay reported cash and equivalents of roughly $350 million, giving it an estimated 18-month runway at current burn (~$20 million per quarter). The PI3K inhibitor market is projected to exceed $6 billion by 2028, providing a sizable addressable space for RLY-2608. Additionally, the biotech sector’s R&D intensity remains high, with average R&D spend as a % of revenue at ~45 % for comparable clinical-stage firms, underscoring the importance of efficient discovery platforms like Relay’s.
For a deeper, data-driven view of Relay’s valuation and risk profile, check out the ValueRay analysis.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -297.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.37 > 0.02 and ΔFCF/TA -6.76 > 1.0 |
| NWC/Revenue: 7078 % < 20% (prev 8177 %; Δ -1099 % < -1%) |
| CFO/TA -0.37 > 3% & CFO -248.5m > Net Income -297.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 19.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (172.4m) vs 12m ago 22.93% < -2% |
| Gross Margin: 63.09% > 18% (prev 0.45%; Δ 6264 % > 0.5%) |
| Asset Turnover: 1.04% > 50% (prev 1.08%; Δ -0.03% > 0%) |
| Interest Coverage Ratio: -13.80 > 6 (EBITDA TTM -316.6m / Interest Expense TTM -23.3m) |
Altman Z'' -15.00
| A: 0.88 (Total Current Assets 624.0m - Total Current Liabilities 32.6m) / Total Assets 670.0m |
| B: -2.93 (Retained Earnings -1.96b / Total Assets 670.0m) |
| C: -0.40 (EBIT TTM -320.8m / Avg Total Assets 800.1m) |
| D: -31.45 (Book Value of Equity -1.96b / Total Liabilities 62.3m) |
| Altman-Z'' Score: -39.47 = D |
What is the price of RLAY shares?
Over the past week, the price has changed by +16.45%, over one month by +9.18%, over three months by +36.60% and over the past year by +97.78%.
Is RLAY a buy, sell or hold?
- StrongBuy: 6
- Buy: 5
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the RLAY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 14.6 | 63.1% |
| Analysts Target Price | 14.6 | 63.1% |
| ValueRay Target Price | 9.8 | 9.4% |
RLAY Fundamental Data Overview February 03, 2026
P/B = 2.189
Revenue TTM = 8.36m USD
EBIT TTM = -320.8m USD
EBITDA TTM = -316.6m USD
Long Term Debt = 33.3m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 3.64m USD (from shortTermDebt, last quarter)
Debt = 33.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -58.2m USD (from netDebt column, last quarter)
Enterprise Value = 764.5m USD (1.33b + Debt 33.3m - CCE 596.4m)
Interest Coverage Ratio = -13.80 (Ebit TTM -320.8m / Interest Expense TTM -23.3m)
EV/FCF = -3.07x (Enterprise Value 764.5m / FCF TTM -248.9m)
FCF Yield = -32.55% (FCF TTM -248.9m / Enterprise Value 764.5m)
FCF Margin = -2978 % (FCF TTM -248.9m / Revenue TTM 8.36m)
Net Margin = -3561 % (Net Income TTM -297.6m / Revenue TTM 8.36m)
Gross Margin = 63.09% ((Revenue TTM 8.36m - Cost of Revenue TTM 3.08m) / Revenue TTM)
Gross Margin QoQ = none% (prev -48.01%)
Tobins Q-Ratio = 1.14 (Enterprise Value 764.5m / Total Assets 670.0m)
Interest Expense / Debt = 20.82% (Interest Expense 6.94m / Debt 33.3m)
Taxrate = 21.0% (US default 21%)
NOPAT = -253.5m (EBIT -320.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 19.14 (Total Current Assets 624.0m / Total Current Liabilities 32.6m)
Debt / Equity = 0.05 (Debt 33.3m / totalStockholderEquity, last quarter 607.7m)
Debt / EBITDA = 0.18 (negative EBITDA) (Net Debt -58.2m / EBITDA -316.6m)
Debt / FCF = 0.23 (negative FCF - burning cash) (Net Debt -58.2m / FCF TTM -248.9m)
Total Stockholder Equity = 693.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -37.20% (Net Income -297.6m / Total Assets 670.0m)
RoE = -42.94% (Net Income TTM -297.6m / Total Stockholder Equity 693.1m)
RoCE = -44.17% (EBIT -320.8m / Capital Employed (Equity 693.1m + L.T.Debt 33.3m))
RoIC = -36.57% (negative operating profit) (NOPAT -253.5m / Invested Capital 693.1m)
WACC = 12.70% (E(1.33b)/V(1.36b) * Re(12.61%) + D(33.3m)/V(1.36b) * Rd(20.82%) * (1-Tc(0.21)))
Discount Rate = 12.61% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 18.59%
Fair Price DCF = unknown (Cash Flow -248.9m)
EPS Correlation: 69.53 | EPS CAGR: 32.87% | SUE: 4.0 | # QB: 1
Revenue Correlation: 11.13 | Revenue CAGR: -54.64% | SUE: -0.02 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.43 | Chg30d=-0.003 | Revisions Net=+1 | Analysts=6
EPS next Year (2026-12-31): EPS=-1.64 | Chg30d=-0.032 | Revisions Net=+1 | Growth EPS=+6.0% | Growth Revenue=-25.1%