Sanjiv Patel, Relay Therapeutics CEO

Re­lay kicks off pub­lic of­fer­ing, seek­ing $300M af­ter lay­ing out ro­bust ES­MO da­ta

Four days af­ter join­ing the prover­bial win­ner’s cir­cle thanks to its bile duct can­cer drug can­di­date, Re­lay Ther­a­peu­tics is up­ping the ante and look­ing to up its cof­fers by a few hun­dred mil­lion for its next steps.

The com­pa­ny re­port­ed bright and ear­ly Mon­day morn­ing that it was com­menc­ing a pub­lic of­fer­ing to the tune of $300 mil­lion. While de­tails are few and far be­tween, the biotech said un­der­writ­ers get 30 days to pur­chase an­oth­er 15% of the shares of­fered in the pub­lic of­fer­ing — which ac­cord­ing to mar­ket con­di­tions could be in the $45 mil­lion range.

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