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. (NASDAQ:RLAY) is experiencing remarkable momentum in financial markets, following a significant increase in stock value that soared approximately 46.47% during trading, reaching $9.14 from an opening price of $8.05. The stock’s trading volume surged to nearly 19 million shares, signaling heightened investor interest and confidence in the company’s cutting-edge approaches to therapeutic development.

In tandem with this surge, Relay Therapeutics has announced a public offering aimed at raising $200 million through the sale of its common stock. Notably, the company is granting underwriters a 30-day option to purchase an additional 15% of the shares, reflecting a strategic move to optimize funding for its ambitious projects. All shares in this offering will be made available directly by Relay Therapeutics, underscoring its commitment to advancing its innovative initiatives in drug discovery and development.

To successfully manage this offering, Relay Therapeutics has partnered with leading financial institutions, including Goldman Sachs & Co. LLC, TD Cowen, Stifel, and BofA Securities, who will serve as joint book-running managers. Raymond James will act as a co-manager, lending additional expertise to the financing process.

The company leverages its proprietary Dynamo® platform, which synergizes computational and experimental technologies to address challenging protein targets in the realms of oncology and genetic diseases. Relay’s mission focuses on expanding the horizons of drug discovery to develop transformative therapies for patients in need.

The public offering remains contingent on prevailing market conditions, with final terms yet to be determined. An effective shelf registration statement has been submitted to the U.S. Securities and Exchange Commission (SEC), facilitating this process and enhancing the company’s financing capabilities as it navigates this critical phase. As Relay Therapeutics embarks on this important initiative, it remains dedicated to its goal of revolutionizing the field of precision medicine.

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