24/7 Market News Snapshot 09 September, 2024 – Relay Therapeutics, Inc. Common Stock (NASDAQ:RLAY)

September 9, 2024

DENVER, Colo., 09 September, 2024 (247marketnews.com) – (NASDAQ:RLAY) are discussed in this article.
Relay Therapeutics, Inc. is experiencing a significant surge in stock performance, reflected by a substantial increase of 46.03%, bringing the share price to $9.112 after opening at $6.42. The company’s stock closed at $6.240 in the previous trading session, and current trading volume stands at 1.11 million shares, revealing heightened market interest and confidence in their innovative approaches to drug development.

In a noteworthy development, Relay Therapeutics has also reported promising interim results from its ReDiscover study concerning RLY-2608, a targeted therapy for hormone receptor-positive, HER2-negative metastatic breast cancer with PI3Kα mutations. The interim data indicate a median progression-free survival (PFS) of 9.2 months for heavily pre-treated patients, coupled with an objective response rate (ORR) of 33% across all participants; impressively, the ORR rises to 53% among individuals with specific kinase mutations. These findings enhance the drug’s potential to redefine treatment options for patients who previously faced limited alternatives.

“The encouraging data from RLY-2608 highlights the therapeutic advantages of personalized treatment for patients with PI3Kα mutations,” remarked Don Bergstrom, M.D., Ph.D., President of R&D at Relay Therapeutics. The company is advancing plans to engage with regulatory authorities and expedite a pivotal study slated for initiation in 2025.

With the study enrolling 118 participants receiving RLY-2608 in combination with fulvestrant, the treatment demonstrated a favorable safety profile, with only two patients discontinuing due to adverse effects. To build on these promising results, Relay is further exploring two triplet combinations involving RLY-2608, fulvestrant, and additional compounds, aiming to expand dosing and initiate more studies in early 2025. These developments underscore Relay Therapeutics’ commitment to advancing precision oncology and providing new hope to patients facing complex cancer diagnoses. Further results are anticipated to be shared at an upcoming symposium, promising continued advancements in cancer therapeutics.

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