Is Relay Therapeutics a Buy After Promising Trial Results?

Relay Therapeutics (NASDAQ: RLAY) is a clinical-stage biotech company focused on cancers and genetic diseases, using a computational platform to identify small-molecule therapies. Relay's stock is up more than 344% over the past year, and it jumped more than 6% in the early afternoon on May 19, the day the company announced promising results for one of its drug therapies. Relay recently presented phase 2 trial data for zovegalisib in the treatment of vascular anomalies. Zovegalisib works by blocking PIK3CA, a gene that encodes an enzyme involved in cell growth. PIK3CA mutations are often associated with cancer. Vascular anomalies are rare disorders with abnormal development of blood vessels, lymphatic vessels, and surrounding tissues.The results showed that zovegalisib led to a volumetric response in about 60% of the 20 patients it evaluated. Responses were seen in PROS and lymphatic malformation patients, and across a spectrum of PIK3CA mutations. PROS is an umbrella term for a group of rare genetic disorders caused by mutations in the PIK3CA gene.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool