Goodwin Advises Relay Therapeutics on Pricing of $316 Million Public Offering of Common Stock

The Life Sciences team advised Relay Therapeutics on the pricing of an underwritten public offering of 22,916,667 shares of its common stock at a public offering price of $12 per share. Relay Therapeutics also granted the underwriters a 30-day option to purchase up to an additional 3,437,500 shares of its common stock, which option was exercised in full. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $316 million. 

Relay Therapeutics is a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease. Relay Therapeutics’ Dynamo® platform integrates an array of leading-edge computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed. Relay Therapeutics’ lead clinical asset, zovegalisib, is the first pan-mutant selective PI3Kα inhibitor to enter clinical development and is currently in a Phase 3 clinical trial (ReDiscover-2) in HR+/HER2- metastatic breast cancer. Zovegalisib is also being investigated in a group of genetic disease indications called PIK3CA-driven vascular anomalies. Relay Therapeutics’ pipeline also includes programs for NRAS-driven solid tumors and Fabry disease. 

The Goodwin team was led by Gabriela Morales-Rivera, Kristin Yeakel, Megan Riley, Caleb Paasche, and Bill Collins. 

For more information on the deal, please read the press release.