Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) insider Peter Rahmer sold 20,450 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $7.06, for a total value of $144,377.00. Following the transaction, the insider now owns 432,425 shares of the company’s stock, valued […]
Dive Brief:
Relay Therapeutics, a Cambridge, Massachusetts-based biotech five months removed from raising nearly half a billion dollars, on Monday announced a licensing deal with Roche that will give it another $75 million and a large pharma partner for one of its lead drugs.
The alliance, Relay s first, grants Roche rights to RLY-1971, a targeted cancer drug designed to block a protein that s thought to play a key role in the growth and survival of certain tumors. Along with the upfront payment and another $25 million in near-term cash, Roche is pledging between $410 million and $695 million in additional payments should RLY-1971 meet certain, unspecified milestones.