Barclays says reports of Eli Lilly (LLY) reportedly being in talks to acquire Scorpion Therapeutics has a positive read-through to Relay Therapeutics (RLAY) given their similar competitive PI3Kalpha programs in breast cancer. Relay’s RLY-2608 is ahead in clinical development and Scorpion’s $2.5B acquisition value suggests upside in Relay shares, the analyst tells investors in a research note. The firm has a Overweight rating on Relay with a $17 price target.
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