Product pipeline and R&Dmixed · 2 filings
“Income Taxes Since our inception in 2015, we have not recorded any U.S.”10-Q · May 5, 2026 ↗
Relay Therapeutics, Inc.
RLAY
Market read
Relay Therapeutics, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 24 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Company+1.2% todayVolume comparison unavailable
Market group0 of 24 activeIndustrial Automation & Components · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- RLAY's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if RLAY's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 24 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- RLAY's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods6
Price observations319
Usable filing statements34
Verified relationships9
Evidence supporting the case
- Latest annual revenue changed +53.4% year over year.
- Operating margin changed +1750.5 percentage points in the latest annual period.
- Net margin changed +1574.1 percentage points in the latest annual period.
Evidence challenging the case
- Diluted shares increased 20.0% in the latest annual period.
Questions before a position
- EV/sales is 3088% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
18.896m+84.1%12m+429.1%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.0M-96.3%$-3.82—
2022-12-31$1.4M-54.4%$-2.59+18.0%
2023-12-31$25.5M+1749.8%$-2.79+9.2%
2024-12-31$10.0M-60.8%$-2.36+16.7%
2025-12-31$15.4M+53.4%$-1.61+20.0%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposuremixed · 1 filings
“Our acceptance into RTOR does not guarantee or influence approval of our application, which is subject to the same statutory and regulatory requirements for approval as applications that are not included in RTOR.”10-Q · May 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 211.3× · EV/sales 205.8×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
18.89+1.2% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for RLAY. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for RLAY. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind RLAY
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PFEPfizer Inc.partnerFeb 26, 2026 ▾
“We are also advancing triplet combination arms with zovegalisib, fulvestrant and cyclin dependent kinase 4/6, or CDK 4/6, inhibitors, or atirmociclib, the investigative selective-CDK4 inhibitor from Pfizer Inc., or Pfizer.”
AZNAstraZeneca PLCcompetitorFeb 26, 2026 ▾
“Zovegalisib– Breast Cancer and Solid Tumors We expect that zovegalisib will compete against approved medicines, Piqray (alpelisib), a non-selective PI3Kα inhibitor marketed by Novartis for the treatment of PIK3CA mutated HR+, HER2- advanced or metastatic brea…”
Depended on by
ABSIAbsci CorporationcompetitorNov 12, 2025 ▾
“AI-enabled small molecule design) that may seek to develop antibody design capabilities, such as Recursion Pharmaceuticals, Inc., Relay Therapeutics, Inc., Isomorphic Labs Limited, and Schrodinger, Inc., among others; and; • we may face competition from acade…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
RLAY is currently a Follower in the organic co-movement group Industrial Automation & Components. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for RLAY; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.