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RELAYⓇ THERAPEUTICS Relay Therapeutics Reports Third Quarter 2021 Financial Results and Recent Corporate Highlights November 10 , 2021 CAMBRIDGE , Mass . , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) -- Relay Therapeutics , Inc. ( Nasdaq : RLAY ) , a clinical - stage precision medicine company transforming the drug discovery process by combining leading - edge computational and experimental technologies , today reported third quarter 2021 financial results . " It's been a very productive year at Relay Therapeutics . We have delivered on all of our key goals set out at our IPO in July 2020 and have proven our ability to effectively advance our clinical trials , having recently disclosed interim clinical data for RLY - 4008 . Not only do the clinical data validate our Dynamo ™ platform and approach , but they also suggest RLY - 4008 is a highly selective FGFR2 inhibitor that has the potential to address a significant unmet medical need , ” said Sanjiv Patel , M.D. , president and chief executive officer . “ Our other programs continue to progress , with RLY - 2608 , the first of our PI3Ka franchise , on path to begin a first - in - human study in the first half of 2022. We will continue to focus on execution for the remainder of 2021 and into 2022 , and are confident our recent financing will provide the capital needed to push multiple programs through the clinic while maintaining a robust preclinical pipeline . " Recent Corporate Highlights • Presented interim clinical data for RLY - 4008 in a first - in - human trial in patients with FGFR2 - altered cholangiocarcinoma and other solid tumors at the AACR - NCI - EORTC Molecular Targets Conference on October 8 , 2021 that suggest RLY - 4008 is a highly selective FGFR2 inhibitor demonstrating robust inhibition of FGFR2 regardless of alteration or tumor type while not being limited by off - target toxicities • Announced the Company anticipates selecting a once daily recommended Phase 2 dose and initiating expansion cohorts prior to the end of 2021 • Shared preclinical data at the AACR - NCI - EORTC Molecular Targets Conference on October 7 , 2021 that support RLY - 2608 as the first known allosteric pan - mutant selective inhibitor of PI3Ka • Additional preclinical data for RLY - 2608 in combination with standard of care medicines , fulvestrant ( estrogen receptor inhibitor ) and / or abemaciclib ( CDK 4/6 inhibitor ) , will be presented at the San Antonio Breast Cancer Symposium • Presentation Title : RLY - 2608 : the first allosteric mutant- and isoform - selective inhibitor of PI3Ka , is efficacious as a single agent and drives regressions in combination with standard of care therapies in PIK3CA mutant breast cancer models • Presentation Time : Poster Session 5 , December 10 , 2021 , 7:00 a.m. - 8:30 a.m. CT • Successfully raised $ 402 million of gross proceeds in an underwritten follow - on public offering Third Quarter 2021 Financial Results Cash , Cash Equivalents and Investments : As of September 30 , 2021 , cash , cash equivalents and investments totaled approximately $ 616.5 million , which excludes the gross proceeds of $ 402 million from the Company's recent public offering , compared to $ 678.1 million as of December 31 , 2020 . The Company expects its current cash and cash equivalents , together with the net proceeds from its recent public offering , will be sufficient to fund its current operating plan at least into 2025 . R & D Expenses : Research and development expenses were $ 45.0 million for the third quarter of 2021 , as compared to $ 24.4 million for the third quarter of 2020. The increase of $ 20.6 million was primarily due to $ 8.9 million related to pre - clinical development candidates and $ 9.6 million of additional employee related costs and expenses attributable to clinical development activities . G & A Expenses : General and administrative expenses were $ 14.7 million for the third quarter of 2021 , as compared to $ 12.2 million for the third quarter of 2020. The increase of $ 2.5 million was primarily due to $ 1.3 million of increased personnel costs and $ 0.7 million of other general and administrative expenses . Net Loss : Net loss was $ 60.8 million for the third quarter of 2021 , or a net loss per share of $ 0.66 , as compared to a net loss of $ 36.1 million for the third quarter of 2020 , or a net loss per share of $ 3.00 . About Relay Therapeutics Relay Therapeutics ( Nasdaq : RLAY ) is a clinical - stage precision medicines company transforming the drug discovery process by combining leading - edge computational and experimental technologies with the goal of bringing life - changing therapies to patients . Relay Therapeutics is the first of a new breed of biotech created at the intersection of disparate technologies . Relay Therapeutics ' DynamoTM platform integrates an array of