Why Relay Therapeutics Is Up 30% This Week
Shares of Relay Therapeutics (NASDAQ: RLAY), a clinical-stage biopharmaceutical company, have risen about 30% since the stock's closing price last Friday. Investors are highly encouraged by interim clinical trial data that suggest the company's new approach to drug development can produce a new blockbuster cancer treatment.
Relay Therapeutics is developing small molecule drugs to inhibit troublesome proteins that were previously considered undruggable. The biotech stock surged this week after the company reported positive interim data from a study with RLY-4008, a treatment candidate for bile-duct cancer.
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Source Fool.com
