RLAY on Nasdaq
Relay Therapeutics
American biological products company based in Cambridge, founded in 2016.1
Price unavailable
Last updated Oct 18, 2026.
Overview
2016Founded1
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-1971.6%Operating margin4
-1800.6%Net margin4
53.4%Revenue growth, 20254
-48.8%Return on equity4
-$235.9MFree cash flow4
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$15.4M
Out of $15.4M in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| License and other revenue | $15.4M | $10.0M | $25.5M |
| Total revenue | $15.4M | $10.0M | $25.5M |
| Research and development expenses | $261.4M | $319.1M | $330.0M |
| Change in fair value of contingent consideration liability | -$13.2M | -$6.4M | |
| General and administrative expenses | $56.7M | $76.6M | $75.0M |
| Total operating expenses | $318.1M | $382.5M | $398.5M |
| Loss from operations | -$302.7M | -$372.5M | -$373.0M |
| Interest income | $27.0M | $34.7M | $31.0M |
| Other (expense) income | -$776.0K | $14.0K | -$18.0K |
| Total other income, net | $26.3M | $34.8M | $31.0M |
| Net loss | -$276.5M | -$337.7M | -$342.0M |
| Net loss per share, basic | -$1.61 | -$2.36 | -$2.79 |
| Net loss per share, diluted | -$1.61 | -$2.36 | -$2.79 |
| Weighted average shares of common stock, basic | 171.6M shares | 142.9M shares | 122.6M shares |
| Weighted average shares of common stock, diluted | 171.6M shares | 142.9M shares | 122.6M shares |
| Unrealized holding gain (loss) | $1.7M | -$795.0K | $10.2M |
| Total other comprehensive income (loss) | $1.7M | -$795.0K | $10.2M |
| Total comprehensive loss | -$274.8M | -$338.5M | -$331.7M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $84.0M | $124.3M | ||
| Investments | $470.5M | $657.0M | ||
| Prepaid expenses | $17.8M | $17.3M | ||
| Other current assets | $6.0M | $10.5M | ||
| Total current assets | $578.3M | $809.2M | ||
| Property and equipment, net | $1.7M | $5.9M | ||
| Operating lease assets | $40.0M | $51.8M | ||
| Restricted cash | $1.3M | $2.1M | ||
| Intangible asset | $0 | $2.3M | ||
| Total assets | $621.3M | $871.3M | ||
| Accounts payable | $7.7M | $14.1M | ||
| Accrued expenses | $13.6M | $21.2M | ||
| Operating lease liabilities | $3.8M | $5.7M | ||
| Deferred revenue | $7.7M | |||
| Other current liabilities | $463.0K | $2.0M | ||
| Total current liabilities | $25.6M | $50.7M | ||
| Operating lease liabilities, net of current portion | $28.7M | $42.8M | ||
| Total liabilities | $54.3M | $93.5M | ||
| Common stock, $0.001 par value; 300,000,000 shares authorized as of December 31, 2024 and December 31, 2024; 173,868,949 and 167,755,715 shares issued and outstanding as of December 31, 2025 and December 31, 2024,respectively | $168.0K | $168.0K | ||
| Additional paid-in capital | $2.6B | $2.5B | ||
| Accumulated other comprehensive loss | $733.0K | -$991.0K | ||
| Accumulated deficit | -$2.0B | -$1.7B | ||
| Total stockholders' equity | $567.1M | $777.8M | $752.0M | $950.2M |
| Total liabilities and stockholders' equity | $621.3M | $871.3M | ||
| Common stock par value | $0.00 | $0.00 | ||
| Common stock shares authorized | 300.0M shares | 300.0M shares | ||
| Common stock shares issued | 173.9M shares | 167.8M shares | ||
| Common stock shares outstanding | 173.9M shares | 167.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $84.0M | $124.3M | ||
| Investments | $470.5M | $657.0M | ||
| Prepaid expenses | $17.8M | $17.3M | ||
| Other current assets | $6.0M | $10.5M | ||
| Total current assets | $578.3M | $809.2M | ||
| Property and equipment, net | $1.7M | $5.9M | ||
| Operating lease assets | $40.0M | $51.8M | ||
| Restricted cash | $1.3M | $2.1M | ||
| Intangible asset | $0 | $2.3M | ||
| Total assets | $621.3M | $871.3M | ||
| Accounts payable | $7.7M | $14.1M | ||
| Accrued expenses | $13.6M | $21.2M | ||
| Operating lease liabilities | $3.8M | $5.7M | ||
| Deferred revenue | $7.7M | |||
| Other current liabilities | $463.0K | $2.0M | ||
| Total current liabilities | $25.6M | $50.7M | ||
| Operating lease liabilities, net of current portion | $28.7M | $42.8M | ||
| Total liabilities | $54.3M | $93.5M | ||
| Common stock, $0.001 par value; 300,000,000 shares authorized as of December 31, 2024 and December 31, 2024; 173,868,949 and 167,755,715 shares issued and outstanding as of December 31, 2025 and December 31, 2024,respectively | $168.0K | $168.0K | ||
| Additional paid-in capital | $2.6B | $2.5B | ||
| Accumulated other comprehensive loss | $733.0K | -$991.0K | ||
| Accumulated deficit | -$2.0B | -$1.7B | ||
| Total stockholders' equity | $567.1M | $777.8M | $752.0M | $950.2M |
| Total liabilities and stockholders' equity | $621.3M | $871.3M | ||
| Common stock par value | $0.00 | $0.00 | ||
| Common stock shares authorized | 300.0M shares | 300.0M shares | ||
| Common stock shares issued | 173.9M shares | 167.8M shares | ||
| Common stock shares outstanding | 173.9M shares | 167.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$276.5M | -$337.7M | -$342.0M |
| Depreciation expense | $3.6M | $5.5M | $5.3M |
| Stock compensation expense | $62.4M | $94.1M | $86.0M |
| Impairment of intangible asset | $2.3M | ||
| Net realized gain on sale of investments | -$101.0K | ||
| Loss on disposal of property and equipment | $1.0M | ||
| Change in fair value of contingent consideration liability | -$13.2M | -$6.4M | |
| Net amortization of premiums and discounts on investments | -$4.9M | -$12.3M | -$10.8M |
| Accounts receivable | $306.0K | ||
| Contract asset | $4.9M | ||
| Prepaid expenses and other current assets | $1.6M | -$5.4M | -$4.6M |
| Operating lease assets and liabilities, net | -$4.3M | $1.2M | $1.5M |
| Accounts payable and accrued expenses | -$11.4M | $10.3M | -$9.6M |
| Deferred revenue | -$7.7M | $7.7M | |
| Other liabilities | -$1.5M | $786.0K | -$24.9M |
| Net cash used in operating activities | -$235.5M | -$249.1M | -$300.3M |
| Purchases of property and equipment | -$410.0K | -$2.0M | -$4.1M |
| Purchases of investments | -$123.0M | -$650.6M | -$385.5M |
| Proceeds from maturities and sales of investments | $316.2M | $611.6M | $647.3M |
| Net cash provided by (used in) investing activities | $192.8M | -$41.1M | $257.6M |
| Proceeds from issuance of common stock through Private Placement, net | $29.8M | ||
| Proceeds from issuance of common stock via at-the-market offerings, net | $17.9M | $30.3M | |
| Proceeds from issuance of common stock through follow-on offering, net | $218.2M | ||
| Proceeds from issuance of common stock through exercise of stock options | $524.0K | $2.8M | $2.0M |
| Proceeds from issuance of common stock via employee stock purchase plan | $1.1M | $1.5M | $2.5M |
| Net cash provided by financing activities | $1.6M | $270.2M | $34.8M |
| Net decrease in cash, cash equivalents, and restricted cash | -$41.1M | -$20.0M | -$7.9M |
| Periodic change in additions of property and equipment within current liabilities | -$35.0K | -$1.5M | $410.0K |
| Periodic change in costs to obtain license agreement within current liabilities | -$2.5M | $2.5M | |
| Operating lease assets obtained in exchange for operating lease liabilities | $6.9M | ||
| Issuance of common stock upon milestone achievement | $0 | $0 | $12.8M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Relay Therapeutics, and when. Pick a name to see everywhere that person has worked.
- PresidentDonald A. Bergstrom Jan 31, 2022 to now12
- Chief financial officerThomas Catinazzo Jan 31, 2022 to now13
Board members and other officers (16)
- OfficerPeter Rahmer Jan 5, 2023 to now14
- OfficerAndy Porter Dec 27, 2021 to Nov 1, 202215
- OfficerDonald A. Bergstrom Jul 15, 2020 to Dec 27, 202116
- Vice President, FinanceThomas Catinazzo Jul 15, 2020 to Dec 27, 202117
- Board memberClaire Mazumdar Jun 11, 2025 to now18
- Board memberHabib J. Dable Nov 6, 2025 to now19
- Board memberLonnel Coats Nov 6, 2025 to now20
- Board memberSekar Kathiresan Jul 27, 2022 to now21
- Board memberAlexis Borisy Jul 15, 2020 to now22
- Board memberDipchand Nishar Jul 15, 2020 to Jul 15, 202023
- Board memberDouglas S. Ingram Jul 15, 2020 to now24
- Board memberJami Rubin Jul 15, 2020 to now25
- Board memberLaura Shawver Jul 15, 2020 to Jun 5, 202426
- Board memberLinda A. Hill Jul 15, 2020 to now27
- Board memberMark Murcko Jul 15, 2020 to now28
- General counselBrian Adams Jul 15, 2020 to now29
Timeline
- 2016Founded Founded1
Filings
439 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 53 major events, 257 insider forms, 35 large holders, 1 private raises, 73 other. The latest 20:
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 7, 2026144 EDGAR
- Oct 6, 2026144 EDGAR
- Sep 9, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 26, 2026144 EDGAR
- Aug 25, 2026144 EDGAR
- Aug 18, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 2026SCHEDULE 13G/A EDGAR
- Aug 7, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 2026424B5 EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 2026SCHEDULE 13G EDGAR
The 439 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 35 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 10, 2026SCHEDULE 13G/A
- Aug 7, 2026SCHEDULE 13G/A
- Aug 6, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G/A
- Apr 13, 2026SCHEDULE 13G
- Mar 27, 2026SCHEDULE 13G/A
- Mar 19, 2026SCHEDULE 13G
- Feb 17, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Jan 10, 2024Raised $30 million in a private offering of equity Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Sb Investment Advisers (uk) Ltd | 27,904,963 | $522.1M | 6.8% | No change |
| Fmr LLC | 20,110,113 | $376.3M | 0.0% | +16,414,682 |
| Casdin Capital, LLC | 16,035,240 | $300.0M | 15.0% | +1,616,666 |
| BlackRock, Inc. | 15,288,202 | $286.0M | 0.0% | +2,312,903 |
| Perceptive Advisors LLC | 14,106,187 | $263.9M | 4.1% | +4,355,046 |
| Commodore Capital LP | 12,000,000 | $224.5M | 13.4% | −5,000,000 |
| State Street Corp | 10,125,381 | $189.5M | 0.0% | +3,891,836 |
| Vanguard Capital Management LLC | 8,964,423 | $167.7M | 0.0% | +1,576,958 |
| Nextech Invest Ltd. | 6,776,506 | $126.8M | 6.0% | +1,250,000 |
| Bellevue Group AG | 6,185,970 | $115.7M | 2.4% | −1,609,272 |
| Geode Capital Management, LLC | 4,726,576 | $88.4M | 0.0% | +1,215,940 |
| TCG Crossover Management, LLC | 4,273,356 | $80.0M | 1.9% | No change |
| Morgan Stanley | 3,851,071 | $72.1M | 0.0% | +2,419,068 |
| Siren, L.L.C. | 3,650,000 | $68.3M | 1.4% | New |
| Goldman Sachs Group Inc | 3,408,701 | $63.8M | 0.0% | +866,840 |
| Westfield Capital Management Co LP | 3,343,496 | $62.6M | 0.2% | New |
| Kynam Capital Management, LP | 3,300,000 | $61.7M | 3.4% | +1,875,741 |
| Dimensional Fund Advisors LP | 3,127,564 | $58.5M | 0.0% | +187,028 |
| Spruce Street Capital LP | 2,984,125 | $55.8M | 11.0% | No change |
| Vanguard Portfolio Management LLC | 2,892,785 | $54.1M | 0.0% | +1,029,220 |
| Baker Bros. Advisors LP | 2,826,783 | $52.9M | 0.3% | +1,666,666 |
| Bank Of America Corp /de/ | 2,695,108 | $50.4M | 0.0% | +757,413 |
| Mpm Bioimpact LLC | 2,415,672 | $45.2M | 2.8% | +56,086 |
| Arrowstreet Capital, Limited Partnership | 2,238,929 | $41.9M | 0.0% | +1,570,640 |
| Alliancebernstein L.P. | 4,095,600 | $40.8M | 0.0% | +3,950,349 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jul 12, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +39.0% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Links
- Websiterelaytx.com1
- X (Twitter)x.com/relay_tx1
- Instagramwww.instagram.com/relay_tx1
- LinkedInwww.linkedin.com/company/relay-therapeutics-inc.1
- WikidataQ106411735
- SEC EDGARCIK 1812364
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataRelay Therapeutics on Wikidata
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- 12SEC EDGARDonald A. Bergstrom, President
- 13
- 14SEC EDGARPeter Rahmer, Officer
- 15SEC EDGARAndy Porter, Officer
- 16SEC EDGARDonald A. Bergstrom, Officer
- 17
- 18SEC EDGARClaire Mazumdar, Board member
- 19SEC EDGARHabib J. Dable, Board member
- 20SEC EDGARLonnel Coats, Board member
- 21SEC EDGARSekar Kathiresan, Board member
- 22SEC EDGARAlexis Borisy, Board member
- 23SEC EDGARDipchand Nishar, Board member
- 24SEC EDGARDouglas S. Ingram, Board member
- 25SEC EDGARJami Rubin, Board member
- 26SEC EDGARLaura Shawver, Board member
- 27SEC EDGARLinda A. Hill, Board member
- 28SEC EDGARMark Murcko, Board member
- 29SEC EDGARBrian Adams, General counsel