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Uses computational modeling of protein motion to design precision oncology and genetic disease drugs.
Uses computational modeling of protein motion to design precision oncology and genetic disease drugs.
Has no approved product and so no sales; spending is funded by money raised from investors and by occasional payments from drug-company partners. Everything hangs on trial results for its lead breast-cancer drug candidate, RLY-2608, which is why each data release moves the company more than any financial result.
Moat: narrow (IP / patents, process know-how, data). Proprietary protein-motion computing platform aids differentiated drug design, though still pre-revenue.
Headquarters: Cambridge, Massachusetts, US · Founded: 2016 · Employees: 192
Size Relay Therapeutics (RLAY) is a United States Health Care company (Biotechnology) with a market value of $4.08B, the 1336th largest of 3,117 United States companies the cockpit tracks. Shares closed at $18.60 on 6 Nov 2026.
Performance Over six months the shares gained 45.8%, against +0.9% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 23.9% over the last twelve months (peer median +4.3%); the operating margin is -2,999.4% (peer median -11.8%).
Valuation It trades at 308.8× enterprise value to sales against a peer median of 14.5× (2nd most expensive of 16).
Short interest Short interest is 20.1% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $10.3M | $15.4M | $10.0M | $25.5M | $1.38M |
| Revenue growth | — | +53% | -61% | +1,750% | — |
| Gross profit | $8.14M | $11.8M | $4.54M | $20.3M | -$2.75M |
| EBITDA | -$308M | -$299M | -$380M | -$374M | -$307M |
| Net income | -$286M | -$276M | -$338M | -$342M | -$291M |
| Free cash flow | -$212M | -$236M | -$251M | -$304M | -$239M |
| Capital expenditure | $0 | $410,000 | $2.02M | $4.13M | $9.06M |
| Total debt | $30.7M | $32.5M | $48.5M | $53.5M | $57.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Relay Therapeutics RLAY | $4.08B | +46% | +24% | -2,999% | 308.8× | n/a |
| Schrodinger SDGR | $2.23B | +125% | +9% | -59% | 7.4× | n/a |
| Recursion Pharmaceuticals RXRX | $2.19B | +6% | +56% | -725% | 25.1× | n/a |
| IDEAYA Biosciences IDYA | $3.02B | +10% | -83% | -1,267% | 60.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RLAY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | +0.4% | 8th highest of 21 |
| 6-month return | +45.8% | +0.9% | 5th highest of 21 |
| Distance from 52-week high | -12.6% | -27.0% | 5th highest of 21 |
| Revenue growth (TTM) | +23.9% | +4.3% | 6th highest of 16 |
| Operating margin | -2,999.4% | -11.8% | 2nd lowest of 16 |
| EV / Sales | 308.8× | 14.5× | 2nd most expensive of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | 308.8× | n/a | n/a |
| AbCellera Biologics ABCL | United States | $3.85B | +149% | +101% | -340% | 51.7× | n/a | n/a |
| Beijing Tiantan Biological Products 600161.SS | China | $3.76B | -11% | -13% | 21% | 4.8× | 3.2% | +12.5% |
| JOINN Laboratories (China) 6127.HK | Hong Kong | $4.43B | +9% | +17% | -4% | 15.1× | n/a | n/a |
| Lin BioScience 6696.TWO | Taiwan | $3.74B | +129% | n/a | n/a | n/a | n/a | n/a |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | 14.7× | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 2.8× | 32.2% | +7.1% |
| Iovance Biotherapeutics IOVA | United States | $3.64B | +64% | +35% | -91% | 10.4× | n/a | n/a |
| Tango Therapeutics TNGX | United States | $3.63B | -7% | +121% | -253% | 49.1× | n/a | n/a |
| Enliven Therapeutics ELVN | United States | $3.62B | +21% | n/a | n/a | n/a | n/a | n/a |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | 14.5× | n/a | n/a |
| Disc Medicine IRON | United States | $3.50B | +16% | n/a | n/a | n/a | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | 2,087.9× | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | 133.6× | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 5.7× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 1.2× | n/a | n/a |
| Virbac VIRP.PA | France | $3.38B | +5% | +4% | 15% | 2.1× | 6.2% | +9.4% |
| Dyne Therapeutics DYN | United States | $3.37B | +3% | n/a | n/a | n/a | n/a | n/a |
| Hualan Biological Engineering 002007.SZ | China | $3.37B | -15% | -11% | 17% | 5.6× | 16.7% | -1.8% |
| XtalPi 2228.HK | Hong Kong | $3.35B | -34% | +4% | -127% | 26.3× | n/a | n/a |