Relay Therapeutics Sees Phase 3 Breast Cancer Trial Filling By Mid-2027, A Year Ahead Of Benchmarks
The biotech's third-quarter net loss widened to $81.7 million, and it says $848.6 million in cash lasts into 2029.
Relay Therapeutics, a clinical-stage company that develops small molecule cancer and genetic-disease drugs, said its Phase 3 ReDiscover-2 breast cancer trial should finish enrolling in mid-2027, about a year faster than recent benchmarks, according to its third-quarter results released Wednesday. The quarterly net loss widened to $81.7 million, or $0.37 per share, from $74.1 million, or $0.43 per share, a year earlier.
A wider loss on trial and lease costs
Research and development spending rose to $77.1 million from $68.3 million a year earlier. The company said the $8.8 million increase came mainly from higher costs across ongoing clinical trials and non-recurring costs from ending its One Kendall Square lease, partly offset by earlier choices to streamline the research organization.
General and administrative expenses were $13.1 million, up from $12.1 million, on the same lease-termination costs and other administrative increases.
Cash, cash equivalents and investments totaled $848.6 million on September 30, down from $910.9 million on June 30. Relay expects that to fund operating expenses and capital spending into 2029.
Zovegalisib and a new commercial chief
ReDiscover-2 tests the company's lead drug, zovegalisib, with fulvestrant in PI3Kα-mutated, HR+/HER2- advanced breast cancer previously treated with CDK4/6 drugs. The mid-2027 enrollment estimate rests on the current enrollment trajectory, the company said.
Relay named Shannon Campbell head of commercial to prepare for zovegalisib launches in breast cancer and vascular anomalies. She was most recently executive vice president and chief commercial officer at Merus, and earlier held senior roles at Novartis Pharmaceuticals covering breast cancer and vascular anomalies.
The company also announced a second vascular anomalies program, a mutant-selective TIE2 inhibitor that is in late-stage preclinical development. Relay said it has discovered the first known inhibitor of its kind.
CEO Sanjiv Patel said the company was "very pleased by the pace of enrollment" in ReDiscover-2.
December data and a year-end regulatory update
Relay will give an oral presentation of updated ReInspire vascular anomalies data at the American Society of Hematology meeting on Monday, December 14, at 4:00 p.m. ET. A conference call that day will review the data and provide a regulatory update.
The company also targets a regulatory update by year-end 2026 to confirm the design of a planned Phase 3 trial in first-line breast cancer, with that trial starting in early 2027.
Relay's next checkpoint is December 14, when the ReInspire data and the regulatory update arrive together.
Sources
- 8-K Filing — Relay Therapeutics, Inc. (RLAY) — SEC EDGAR
- Exhibit rlay-ex99_1.htm — Relay Therapeutics, Inc. 8-K exhibit — SEC EDGAR
- Relay Therapeutics Reports Third Quarter 2026 Financial — globenewswire.com
