Relay Therapeutics has positive read from Celcuity data, says Barclays

After Celcuity (CELC) announced topline results from the PIK3CA wild-type cohort of the Phase 3 VIKTORIA-1 trial evaluating gedatolisib plus fulvestrant with and without palbociclib versus fulvestrant Barclays analyst Peter Lawson said the data validate targeting the PI3K pathway in breast cancer, which has a positive read-through for Relay Therapeutics (RLAY). While gedatolisib could represent new competition, the firm continues to see important advantages in Relay’s mutant selective approach and keeps an Overweight rating and $17 price target on Relay shares.