Relay Therapeutics (RLAY) IPO Opens 75% Higher

Today's IPO for Relay Therapeutics, Inc. (NASDAQ: RLAY) opened for trading at $35 after pricing its initial public offering of 20,000,000 shares of its common stock at a price to the public of $20.00 per share. All of the shares are being offered by Relay Therapeutics.

In addition, the underwriters have a 30-day option to purchase up to 3,000,000 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

J.P. Morgan, Goldman Sachs & Co. LLC, Cowen, and Guggenheim Securities are acting as joint book-running managers for the offering.

Relay Therapeutics (Nasdaq: RLAY) is a clinical-stage precision medicines company transforming the drug discovery process with the goal of bringing life-changing therapies to patients. Built on unparalleled insights into protein motion and how this dynamic behavior relates to protein function, Relay Therapeutics aims to effectively drug protein targets that have previously been intractable, with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology. The Company’s Dynamo platform integrates an array of leading-edge experimental and computational approaches to provide a differentiated understanding of protein structure and motion to drug these targets.

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