Relay Therapeutics

Relay Therapeutics to lay off 10% of workforce, affecting 30 employees, as part of a streamlining process aimed at saving $50 million annually. The biotech, which had a net loss of $92.2 million in Q2 2024, also announced a clinical trial collaboration with Pfizer and positive interim Phase I/II data for RLY-2608 in metastatic breast cancer.

The global medical tech, biotech, and life sciences sectors face seismic change due to geopolitical tensions, economic uncertainty, and evolving social values. Key challenges include patent expirations, drug pricing regulations, and universal medical device regulation. Innovations in advanced therapeutics, AI, and digital engagement offer opportunities. Policy decisions in major economies like the US, UK, and India will significantly impact the industry. Economic stability is crucial, with the UK's Labour Party planning increased healthcare investment. The 2024 US election focuses on drug pricing and market competition. India aims to boost its MedTech market under Modi's 'made in India' policy. AI and new cell therapies are revolutionizing the industry, but ethical dilemmas and demographic shifts pose additional challenges. Emerging markets in South-East Asia and South America offer growth opportunities.

At ESMO's annual meeting, Pfizer's ponsegromab showed promise in treating cancer cachexia, helping patients regain weight and improve symptoms. Johnson & Johnson's TAR-200, a chemotherapy-releasing device, demonstrated efficacy in bladder cancer, with 42% of patients showing no cancer evidence. BioNTech and Instil Bio presented early data on drugs targeting PD1 and VEGF, similar to Summit Therapeutics' successful trial. Long-term studies revealed Keytruda's superior survival rates over Yervoy in melanoma patients. Scorpion Therapeutics' STX-478 showed potential as a PI3Ka inhibitor with manageable side effects.

R.A.S., M.S.T., C.Y., R.N., H.S.R., M.D., A.J.C., E.S.-R., J.C.B., C.O., K.K., A.D.E., C.V., N.W., K.S.A., A.S.C., C.F., C.I., A.T., J.T., K.Y., L.H., K.G., F.M.H., T.S., A.L.A., P.B., P.N., G.L.H., W.F.S., J.P., P.P., A.D.M., D.Y., L.J.v.V., N.M.H., L.J.E. report various institutional research funding, advisory roles, consultancy, honoraria, patents, and stock ownership.

Relay Therapeutics announced a $200 million underwritten public offering of its common stock, with an option for underwriters to purchase an additional 15% of shares. Goldman Sachs, TD Cowen, Stifel, and BofA Securities are joint book-running managers, with Raymond James as co-manager. The offering is subject to market conditions and SEC approval.

Relay Therapeutics' experimental breast cancer drug, RLY-2608, delayed tumor growth by 9 months in a trial, shrinking tumors in 75% of participants. The drug, targeting PI3Ka mutations, showed potential to replace existing treatments with less toxicity, prompting Relay to plan a pivotal trial for 2024. The study enrolled 118 patients with PI3Ka-mutated, HR-positive, HER2-negative breast cancer.

RLY-2608, a PI3Kα inhibitor, showed 9.2-month median PFS in heavily pre-treated HR+/HER2- metastatic breast cancer patients, with 33% ORR and favorable tolerability. Plans for a 2L pivotal study in 2025 and triplet combinations with ribociclib and atirmociclib are underway.

Relay Therapeutics to report interim data for RLY-2608 600mg BID + fulvestrant in 2L+, CDK4/6-experienced patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer on September 9, 2024, at 8am ET. RLY-2608 is an allosteric, pan-mutant, isoform-selective PI3Kα inhibitor designed to overcome limitations of traditional orthosteric inhibitors.