Relay Therapeutics: Encouraging Data, Competitive Risks (Downgrade)
Relay Therapeutics is shifting its focus to zovegalisib after out-licensing lirafugratinib. The Phase 2 data for zovegalisib shows promise, but comparisons with Novartis’ Vijoice need careful analysis. A downgrade to Hold reflects the current valuation and the need for more definitive evidence of zovegalisib's potential.
- ▪Relay Therapeutics is now targeting vascular anomalies and breast cancer with zovegalisib.
- ▪The DCF models indicate zovegalisib's rNPV at $406.5M for vascular anomalies and $895.1M for second-line breast cancer.
- ▪Peak sales potential for zovegalisib is estimated to be between $1–1.5B for each indication.
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