$RLAY
Relay Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023017894 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $119.0K $226.0K $419.0K
YoY Change -67.4% -46.06% -55.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.12M $19.58M $16.07M
YoY Change 15.2% 21.85% -34.34%
% of Gross Profit
Research & Development $88.20M $82.83M $51.67M
YoY Change 45.76% 60.31% 68.73%
% of Gross Profit
Depreciation & Amortization $1.334M $1.197M $975.0K
YoY Change 39.54% 22.77% 6.09%
% of Gross Profit
Operating Expenses $106.2M $101.4M $63.14M
YoY Change 35.81% 60.6% 45.63%
Operating Profit -$106.1M -$101.2M -$62.72M
YoY Change 36.29% 61.31% 47.91%
Interest Expense $7.559M $6.941M $696.0K
YoY Change 652.14% 897.27% 202.61%
% of Operating Profit
Other Income/Expense, Net $7.545M $6.938M $675.0K
YoY Change 637.54% 927.85% 205.43%
Pretax Income -$98.51M -$94.24M -$62.05M
YoY Change 28.28% 51.89% 47.1%
Income Tax
% Of Pretax Income
Net Earnings -$98.51M -$94.24M -$62.05M
YoY Change 28.28% 51.89% 47.08%
Net Earnings / Revenue -82777.31% -41698.67% -14808.11%
Basic Earnings Per Share -$0.81 -$0.78 -$0.57
Diluted Earnings Per Share -$0.81 -$0.78 -$572.9K
COMMON SHARES
Basic Shares Outstanding 121.6M 121.4M 108.3M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $871.6M $937.8M $898.2M
YoY Change 4.01% 4.41% 23.7%
Cash & Equivalents $145.9M $161.3M $119.4M
Short-Term Investments $725.7M $776.5M $778.7M
Other Short-Term Assets $12.70M $4.085M $12.66M
YoY Change -0.42% -67.74% 62.35%
Inventory
Prepaid Expenses $9.306M $11.27M
Receivables $78.00K $286.0K $269.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $884.3M $958.4M $915.8M
YoY Change 3.34% 4.65% 23.35%
LONG-TERM ASSETS
Property, Plant & Equipment $72.66M $11.95M $8.904M
YoY Change 714.39% 34.21% 50.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.707M $2.578M $2.578M
YoY Change 5.0% 0.0% 186.44%
Total Long-Term Assets $77.67M $79.17M $34.09M
YoY Change 130.96% 132.24% 17.91%
TOTAL ASSETS
Total Short-Term Assets $884.3M $958.4M $915.8M
Total Long-Term Assets $77.67M $79.17M $34.09M
Total Assets $962.0M $1.038B $949.9M
YoY Change 8.16% 9.23% 23.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.78M $11.83M $8.053M
YoY Change 243.99% 46.95% 43.98%
Accrued Expenses $31.52M $28.05M $15.22M
YoY Change 42.57% 84.3% 71.61%
Deferred Revenue $166.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $71.58M $70.47M $41.69M
YoY Change 63.04% 69.03% 159.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $80.32M $83.68M $66.22M
YoY Change 21.92% 26.37% 194.3%
Total Long-Term Liabilities $80.32M $83.68M $66.22M
YoY Change 21.92% 26.37% 194.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.58M $70.47M $41.69M
Total Long-Term Liabilities $80.32M $83.68M $66.22M
Total Liabilities $151.9M $154.1M $107.9M
YoY Change 38.36% 42.85% 179.84%
SHAREHOLDERS EQUITY
Retained Earnings -$1.300B -$1.200B -$830.1M
YoY Change 43.35% 44.56% 85.95%
Common Stock $122.0K $121.0K $109.0K
YoY Change 11.93% 11.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $810.1M $883.4M $842.0M
YoY Change
Total Liabilities & Shareholders Equity $962.0M $1.038B $949.9M
YoY Change 8.16% 9.23% 23.15%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$98.51M -$94.24M -$62.05M
YoY Change 28.28% 51.89% 47.08%
Depreciation, Depletion And Amortization $1.334M $1.197M $975.0K
YoY Change 39.54% 22.77% 6.09%
Cash From Operating Activities -$68.60M -$67.13M -$49.17M
YoY Change 20.16% 36.52% -205.43%
INVESTING ACTIVITIES
Capital Expenditures $1.503M $1.915M $2.794M
YoY Change -180.94% -31.46% 486.97%
Acquisitions
YoY Change
Other Investing Activities $52.78M $77.23M -$109.6M
YoY Change 16.65% -170.47% -53.0%
Cash From Investing Activities $51.28M $75.31M -$112.4M
YoY Change 18.18% -167.01% -51.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $883.0K
YoY Change -57.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.080M 1.297M 883.0K
YoY Change 4.21% 46.89% -57.03%
NET CHANGE
Cash From Operating Activities -68.60M -67.13M -49.17M
Cash From Investing Activities 51.28M 75.31M -112.4M
Cash From Financing Activities 2.080M 1.297M 883.0K
Net Change In Cash -15.24M 9.481M -160.7M
YoY Change 30.19% -105.9% -13.11%
FREE CASH FLOW
Cash From Operating Activities -$68.60M -$67.13M -$49.17M
Capital Expenditures $1.503M $1.915M $2.794M
Free Cash Flow -$70.10M -$69.05M -$51.97M
YoY Change 26.92% 32.86% -212.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q1 us-gaap Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
http://fasb.org/us-gaap/2022#LicenseAndServiceMember
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001812364
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 us-gaap Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
http://fasb.org/us-gaap/2022#LicenseAndServiceMember
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-39385
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
RELAY THERAPEUTICS, INC.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-3923475
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
52306000
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
399 Binney Street
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
2nd Floor
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Cambridge
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02139
CY2023Q1 dei City Area Code
CityAreaCode
617
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
370-8837
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, par value $0.001 per share
CY2023Q1 dei Trading Symbol
TradingSymbol
RLAY
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
121613181
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
161275000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
151794000
CY2023Q1 us-gaap Investments
Investments
776529000
CY2022Q4 us-gaap Investments
Investments
847123000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
286000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
306000
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4945000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4913000
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11268000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12110000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
4085000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
3259000
CY2023Q1 us-gaap Assets Current
AssetsCurrent
958388000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
1019505000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11950000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11634000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
62344000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
63754000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2578000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2578000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2300000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2300000
CY2023Q1 us-gaap Assets
Assets
1037560000
CY2022Q4 us-gaap Assets
Assets
1099771000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
11834000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
10578000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28045000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22703000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4441000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4276000
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
26147000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
26152000
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
70467000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
63709000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-62046000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
53466000
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
31375000
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
32378000
CY2023Q1 us-gaap Liabilities
Liabilities
154148000
CY2022Q4 us-gaap Liabilities
Liabilities
149553000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
121476658
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
121476658
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
121112234
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
121112234
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
121000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
121000
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2041941000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2019126000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5802000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-10420000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1152848000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1058609000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
883412000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
950218000
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1037560000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1099771000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
226000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
419000
CY2023Q1 us-gaap Revenues
Revenues
226000
CY2022Q1 us-gaap Revenues
Revenues
419000
CY2023Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
82827000
CY2022Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
51667000
CY2023Q1 rlay Change In Fair Value Of Contingent Consideration Liabilities
ChangeInFairValueOfContingentConsiderationLiabilities
-1003000
CY2022Q1 rlay Change In Fair Value Of Contingent Consideration Liabilities
ChangeInFairValueOfContingentConsiderationLiabilities
-4595000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19579000
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16068000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
101403000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
63140000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-101177000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-62721000
CY2023Q1 us-gaap Interest Income Other
InterestIncomeOther
6941000
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
696000
CY2023Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3000
CY2022Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
21000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6938000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
675000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-94239000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.78
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.78
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121320865
CY2023Q1 rlay Weighted Average Number Of Shares Outstanding Diluted
WeightedAverageNumberOfSharesOutstandingDiluted
121320865
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108293251
CY2022Q1 rlay Weighted Average Number Of Shares Outstanding Diluted
WeightedAverageNumberOfSharesOutstandingDiluted
108293251
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
4618000
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-8130000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4618000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8130000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-89621000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-70176000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
950218000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1297000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
21518000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
4618000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-94239000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
883412000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
897808000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
883000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13455000
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-8130000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-62046000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
841970000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-94239000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-62046000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
21518000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
13455000
CY2023Q1 us-gaap Depreciation
Depreciation
1197000
CY2022Q1 us-gaap Depreciation
Depreciation
975000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
2017000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-681000
CY2023Q1 rlay Change In Fair Value Of Contingent Consideration Liabilities
ChangeInFairValueOfContingentConsiderationLiabilities
-1003000
CY2022Q1 rlay Change In Fair Value Of Contingent Consideration Liabilities
ChangeInFairValueOfContingentConsiderationLiabilities
-4595000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-20000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-134000
CY2023Q1 us-gaap Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
32000
CY2022Q1 us-gaap Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
140000
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-16000
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-566000
CY2023Q1 rlay Increase Decrease In Operating Lease Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet
-415000
CY2022Q1 rlay Increase Decrease In Operating Lease Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet
-48000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1400000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1223000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5595000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3054000
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-82000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-67130000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-49173000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
847123000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1915000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2794000
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
97815000
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
127690000
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
175044000
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
18100000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
75314000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-112384000
CY2023Q1 rlay Proceeds From Issuance Of Common Stock Upon Exercise Of Stock Options
ProceedsFromIssuanceOfCommonStockUponExerciseOfStockOptions
1297000
CY2022Q1 rlay Proceeds From Issuance Of Common Stock Upon Exercise Of Stock Options
ProceedsFromIssuanceOfCommonStockUponExerciseOfStockOptions
883000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1297000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
883000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9481000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-160674000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
154372000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
282697000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163853000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122023000
CY2023Q1 rlay Periodic Change To Additions Of Property And Equipment In Accounts Payable And Accrued Expenses
PeriodicChangeToAdditionsOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
-402000
CY2022Q1 rlay Periodic Change To Additions Of Property And Equipment In Accounts Payable And Accrued Expenses
PeriodicChangeToAdditionsOfPropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1552000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
161275000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
119445000
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
2578000
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
2578000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163853000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122023000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1200000000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
108000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10528000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the fair value of contingent milestone payments in connection with the acquisition of ZebiAI Therapeutics, Inc. (“ZebiAI”), the determination of the transaction price and standalone selling price of performance obligations under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Revenue from Contracts with Customers</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> (“ASC 606”), the accrual of research and development and manufacturing expenses, the valuation of equity instruments, and the incremental borrowing rate for determining operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
32378000
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
50258000
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1003000
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-4595000
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
31375000
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
45663000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
782331000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
533000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6335000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
776529000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
857543000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
244873000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
942000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
303781000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
5393000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
548654000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
6335000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
333557000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3509000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
372750000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
7019000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
706307000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
10528000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
103
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
126
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the stockholder to one vote on all matters submitted to a vote of the Company’s stockholders.
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21518000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13455000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-94239000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-62046000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.78
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.78
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121320865
CY2023Q1 rlay Weighted Average Number Of Shares Outstanding Diluted
WeightedAverageNumberOfSharesOutstandingDiluted
121320865
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108293251
CY2022Q1 rlay Weighted Average Number Of Shares Outstanding Diluted
WeightedAverageNumberOfSharesOutstandingDiluted
108293251
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19092851
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12995662
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4900000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4900000

Files In Submission

Name View Source Status
0000950170-23-017894-index-headers.html Edgar Link pending
0000950170-23-017894-index.html Edgar Link pending
0000950170-23-017894.txt Edgar Link pending
0000950170-23-017894-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rlay-20230331.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
rlay-20230331.xsd Edgar Link pending
rlay-ex31_1.htm Edgar Link pending
rlay-ex31_2.htm Edgar Link pending
rlay-ex32_1.htm Edgar Link pending
Show.js Edgar Link pending
rlay-20230331_cal.xml Edgar Link unprocessable
rlay-20230331_def.xml Edgar Link unprocessable
rlay-20230331_pre.xml Edgar Link unprocessable
rlay-20230331_lab.xml Edgar Link unprocessable
rlay-20230331_htm.xml Edgar Link completed