Relay Therapeutics Faces Downgrade Over Efficacy Concerns in Competitive PI3K Inhibitor Market
Monday, Relay Therapeutics Inc. (NASDAQ:RLAY) shared interim data for RLY-2608 from the ReDiscover study of RLY-2608 alone, in combination with fulvestrant, and in combination with fulvestrant and ribociclib or atirmociclib (Pfizer Inc’s PFE selective CDK4 inhibitor).
The clinical benefit rate (CBR) was 57% in heavily pretreated patients. RLY-2608 is a pan-mutant and isoform-selective inhibitor of PI3Kα.
Oppenheimer downgraded Relay Therapeutics, noting the upcoming data from competitors.
“We believe that approved PI3Ks actually manage ORRs between ~20-30% and mPFS in the ~7-8 month range in the real world setting, which is higher than the ~10%/5- mo PFS reported by management,” the analyst writes.
Oppenheimer has …
Full story available on Benzinga.com