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Solid tumor biotech Relay Therapeutics prices upsized IPO at $20, above the upwardly revised range

July 16, 2020

Relay Therapeutics, a Phase 1 biotech developing precision small molecule therapies for solid tumors, raised $400 million by offering 20 million shares at $20, above the upwardly revised range of $18 to $19. The company originally planned to offer 14.7 million shares at $16 to $18 before increasing its proposed deal size Wednesday morning. At pricing, the company commands a fully diluted market cap of $1.8 billion.

Relay Therapeutics plans to list on the Nasdaq under the symbol RLAY. J.P. Morgan, Goldman Sachs, Cowen, and Guggenheim Securities acted as lead managers on the deal.