Relay Therapeutics Inc. (NASDAQ:RLAY) is one of the most promising penny stocks under $5. On August 8, Raymond James lowered the firm’s price target on Relay Therapeutics to $19 from $29, while keeping a Strong Buy rating on the shares. This sentiment followed Relay Therapeutics’ Q2 2025 results, where OpEx was down 16% sequentially following strategic cost-cutting initiatives.
Relay Therapeutics reported a net loss of $70.4 million, or $0.41 per share, in Q2 2025, which was an improvement compared to the net loss of $92.2 million, or $0.69 per share, in Q2 2024. Revenue for the quarter was $0.7 million, which was an increase from zero revenue in the same period last year.
A chemist arranging containers of compounds, ready for the commercialization process.
This quarter also featured the initiation of the Phase 3 ReDiscover-2 trial for RLY-2608 in Q2 2025. At the 2025 American Society for Clinical Oncology/ASCO Annual Meeting, updated interim data from the Phase 1b study for RLY-2608 were presented. In addition to oncology, Relay Therapeutics is continuing to execute its ongoing Phase 1 clinical trial for vascular malformations.
Relay Therapeutics Inc. (NASDAQ:RLAY) is a clinical-stage precision medicines company that transforms the drug discovery process with a focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications.
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Disclosure: None. This article is originally published at Insider Monkey.