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Relay Therapeutics Prices $300M Public Offering

This article has been updated to note the gross proceeds Relay expects from the offering. 

NEW YORK – Relay Therapeutics after markets closed on Monday said that it will sell 11,320,755 shares of its common stock at $26.50 per share in a public offering.

The Cambridge, Massachusetts-based company developing precision oncology drugs, including RLY-4008 for FGFR2-altered cholangiocarcinoma patients, announced its intent to sell shares of its common stock on Monday morning.

Relay said it is also granting underwriters a 30-day option to purchase an additional 1,698,113 shares of its common stock at the same price. The company anticipates gross proceeds from the offering of approximately $284.5 million, or around $327.3 million if the underwriters exercise their option to purchase additional shares.

The offering is slated to close on Sept. 15. Goldman Sachs, JP Morgan, Cowen, and BofA Securities are acting as bookrunning managers for the offering.