Citizens JMP lowered the firm’s price target on Relay Therapeutics (RLAY) to $12 from $21 and keeps an Outperform rating on the shares. Relay Therapeutics has announced the pivotal phase 3 trial design for RLY-2608 in metastatic breast cancer, which will pit the 2608 + fulvestrant doublet against AstraZeneca’s (AZN) capivasertib + fulvestrant doublet, the analyst tells investors in a research note. In light of new information on the plans for phase 3 and predicted timelines, the firm is pushing back RLY-2608’s launch to 2029.
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