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RLAY Relay Therapeutics, Inc.

FY2025 10-K
Filed: Feb 26, 2026
Health Care
Biological Products, (No Diagnostic Substances)SEC EDGAR
Relay Therapeutics, Inc. Overview

Relay Therapeutics, Inc. (RLAY) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Management Discussion & Analysis

  • • Revenue $15.4M in 2025, up $5.3M YoY from $10.0M in 2024, primarily from Elevar Agreement milestones
  • • Net loss $276.5M in 2025 vs $337.7M in 2024; operating expenses down to $318.1M from $382.5M; R&D $261.4M vs $319.1M, G&A $56.7M vs $76.6M
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Risk Factors

  • • FDA clinical holds risk, with trials subject to suspension due to safety concerns or regulatory noncompliance impacting lead candidate development
  • • Enrollment delays from competition with other therapies and limited eligible patients constrain trial timelines and regulatory approvals
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