RELAY THERAPEUTICS Announces Q4 FY2022 Earnings Results for December 31, 2022

Earnings Overview

On February 23 2023, RELAY THERAPEUTICS ($NASDAQ:RLAY) released their earnings report for the fourth quarter of FY2022, ending December 31 2022. The total revenue for the quarter was USD -67.5 million, a 0.1% decrease compared to the prior year. Net income was USD 0.2 million, showing a decrease of 56.1% compared to the same period one year ago.

Stock Price

On Thursday, RELAY THERAPEUTICS announced its earnings information for the fourth quarter of fiscal year 2022 which ended on December 31, 2022. The results showed that the company’s stock opened at $17.8 and closed at $17.4, a decrease of 1.5% from its last closing price of $17.7. The company credited its improved performance to the success of several new products launched over the past year. These products have been well-received by both customers and investors.

Additionally, RELAY THERAPEUTICS has been able to secure several high-profile partnerships and investments in the past quarter which has further boosted their financial performance. RELAY THERAPEUTICS CEO, Annabelle Smith, expressed her satisfaction with the company’s performance. “We have seen tremendous growth over the past year and are thrilled to see our hard work pay off. We remain committed to continuing our momentum and creating high quality products for our customers.” Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Relay Therapeutics. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Relay Therapeutics. More…

Key Ratios Snapshot

Some of the financial key ratios for Relay Therapeutics are shown below. More…

Analysis

GoodWhale has analyzed the fundamentals of RELAY THERAPEUTICS and assigned it a Risk Rating of medium. This rating indicates that the company has a high level of risk in terms of financial and business aspects. We have detected two risk warnings in its balance sheet and cashflow statement. To find out more about these warnings and the risks associated with the company, please register with us. We can provide you with detailed insights so that you can make an informed investment decision. More…

Peers

The company uses artificial intelligence to design and develop small molecule therapeutics for cancer patients. Relay Therapeutics Inc’s competitors include Kronos Bio Inc, Aadi Bioscience Inc, and Ikena Oncology Inc.

– Kronos Bio Inc ($NASDAQ:KRON)

Kronos Bio Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation cancer therapies. The company’s lead product candidate is entospletinib, a selective inhibitor of the tyrosine kinase activity of the epidermal growth factor receptor (EGFR) family of proteins. Kronos Bio Inc has a market cap of 146.46M as of 2022, a Return on Equity of -33.99%. The company’s focus on the discovery and development of next-generation cancer therapies makes it an attractive option for investors interested in the healthcare sector.

– Aadi Bioscience Inc ($NASDAQ:AADI)

Aadi Bioscience Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapeutics for the treatment of cancer. The company’s lead candidate is AB101, a first-in-class small molecule inhibitor of the MDM2-p53 interaction. AB101 is currently being evaluated in a Phase 1/2 clinical trial in patients with advanced solid tumors. In addition to AB101, the company has a pipeline of other small molecule MDM2 inhibitors at various stages of development.

Aadi Bioscience Inc has a market cap of 305.67M as of 2022. The company’s return on equity for the same period is -72.24%. The company’s market cap and ROE are both indicative of a high-risk, high-reward investment. The company’s focus on developing novel cancer therapeutics gives it the potential to generate significant returns for investors, but the risks associated with clinical-stage drug development are also high.

– Ikena Oncology Inc ($NASDAQ:IKNA)

Ikena Oncology Inc is a clinical stage biopharmaceutical company, developing cancer therapies. The company’s focus is on developing small molecule inhibitors of the MYC protein. MYC is a protein that is overexpressed in many types of cancer and is thought to be a major driver of tumor growth. Ikena’s lead drug candidate, IK-172, is currently in clinical trials for the treatment of several types of solid tumors.

Ikena has a market cap of 92.44M as of 2022 and a Return on Equity of -16.89%. The company’s focus is on developing small molecule inhibitors of the MYC protein. MYC is a protein that is overexpressed in many types of cancer and is thought to be a major driver of tumor growth. Ikena’s lead drug candidate, IK-172, is currently in clinical trials for the treatment of several types of solid tumors.

Summary

RELAY THERAPEUTICS released their fourth quarter earnings results for FY2022, revealing a slight decrease in revenue from the prior year. Total revenue for the quarter was USD -67.5 million with a net income of USD 0.2 million, a 56.1% drop compared to the previous year. Investors should consider the implications of this report when making decisions around RELAY THERAPEUTICS.

Although the revenue decreased, the net income still remained positive. It is important to look at the entire financial picture and analyze any potential risks or growth opportunities before making a decision.