Relay Therapeutics is a clinical-stage biotech focused on developing small molecule drugs for cancer and genetic diseases. Relay has no approved products and generates no product revenue. Its lead asset is zovegalisib, an investigational PI3Kα inhibitor currently in Phase 3 trials for HR+/HER2- breast cancer with a PIK3CA mutation in patients who have progressed on a CDK4/6 inhibitor. Relay is also studying zovegalisib in vascular anomalies driven by PIK3CA mutations. Earlier-stage pipeline includes an NRAS-selective inhibitor for solid tumors and a non-inhibitory chaperone for Fabry disease. Relay's FGFR2 inhibitor, lirafugratinib, has been out-licensed to Elevar Therapeutics. Relay's core differentiation is its Dynamo platform, which studies proteins in motion rather than relying on static structural snapshots, enabling the identification of allosteric binding sites invisible to conventional drug discovery. Zovegalisib was designed using this approach to bind only mutant PI3Kα, sparing the normal form of the protein — a design choice Relay argues will yield lower toxicity than approved PI3Kα inhibitors. Relay funds itself through equity raises and licensing transactions, including a past Genentech collaboration and the Elevar out-licensing deal. If zovegalisib is approved, Relay plans to build a focused U.S. oncology sales force and partner internationally, targeting a well-defined precision oncology patient population.