Relay Therapeutics Is Sinking In October Having A 14% Collapse

During the trading session, Relay Therapeutics stock is trading at $25.99, which means a loss of 14% for today. Just yesterday, the company was trading at the highest level, at an average of $30.31, and remained at it for four days.

Just recently, the company announced Interim Clinical Data that Supports RLY-4008 as a highly selective FGFR2 Inhibitor. Data presented today at the AACR-NCI-EORTC Virtual Molecular Targets Conference suggest that RLY-4008 is the first investigational drug to selectively bind to FGFR2 to avoid off-isoform toxicity for patients with altered FGFR2 tumors.

RLY-4008 is currently being evaluated in an ongoing human dose-escalation study in patients with altered FGFR2 tumors, regardless of prior FGFRi treatment. The study is intended to determine the maximum tolerated dose and recommended dosing for phase 2 and evaluate baseline safety and tolerability. It is planned that approximately 125 patients will participate in the study, which will be carried out in two phases: dose escalation (part 1) and dose expansion (part 2).