Equity Profile

RLAY

Relay Therapeutics, Inc.

Health CareBiotechnology$4.1B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative approach to protein motion and structure....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's market traction and the effectiveness of its drug development pipeline.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

RLAY Q2-2026 Earnings Preview

Context

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative approach to protein motion and structure. Operating in the health care sector, the company aims to develop targeted therapies for various diseases, which is crucial as the demand for effective treatments continues to grow.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+7.26%

Avg Stock Reaction

+0.95%

Last Quarter Recap

In Q1 2026, Relay Therapeutics reported an EPS of -$0.41, which was worse than the expected -$0.34. The stock fell 0.69% the following day, reflecting investor disappointment.

Management Promises & Guidance

Focus on advancing clinical trials for its lead drug candidates.
Commitment to improving operational efficiencies.
Plans to enhance partnerships with research institutions.

Expectations

Wall Street Expectations

Overall, investors are cautious ahead of the earnings report, especially given the mixed performance in previous quarters. The company's ability to meet or exceed EPS expectations will be closely watched.

Bull Case

If Relay Therapeutics can demonstrate significant progress in its drug development pipeline and report a narrower EPS loss, it could boost investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to show progress or reports a wider EPS loss, it may raise concerns about its long-term viability and lead to a further decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026, and how does it compare to analyst expectations?

Given the company's recent performance, a narrower EPS loss could indicate improved operational efficiency and investor confidence.

What updates can management provide on the progress of its clinical trials?

Progress in clinical trials is critical for the company's future revenue potential and overall market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Relay Therapeutics to improve its clinical trial outcomes, leading to a more favorable EPS than expected.

Supporting Evidence

The company has a history of beating EPS estimates 75% of the time, suggesting potential for positive surprises.

Options pricing indicates a significant expected move, which may reflect investor sentiment that is not fully captured in analyst estimates.

Key Risk

If the EPS comes in better than -$0.30, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on whether Relay Therapeutics can demonstrate progress in its drug development while managing costs effectively.

Bull Confirmed If

A reported EPS loss of less than -$0.30 would confirm the bull case, indicating improved financial health.

Bear Confirmed If

An EPS loss greater than -$0.50 would confirm the bear case, raising concerns about the company's future.

Pre-Earnings Positioning

Options Market

Implied Move

±39.9%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility surrounding the earnings announcement.

Options are pricing ±39.9% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

66.2%

Calls (72K)P/C Ratio: 7.96Puts (130K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of around 1.43%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further clarity from management.

Miss

Should the company miss expectations, history suggests a potential decline of about 0.50%, leading to increased skepticism about its future.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the status of ongoing clinical trials and any potential new partnerships.
2Specific guidance on expected timelines for drug approvals.
3Any commentary on cost management strategies and operational efficiencies.
4Insights into market demand for the company's drug candidates.
5Management's outlook on future revenue growth and profitability.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Danaos Corporation

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative approach to protein motion and structure....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's market traction and the effectiveness of its drug development pipeline.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

RLAY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+7.26%

Avg Stock Reaction

+0.95%

Last Quarter Recap

In Q1 2026, Relay Therapeutics reported an EPS of -$0.41, which was worse than the expected -$0.34. The stock fell 0.69% the following day, reflecting investor disappointment.

Management Promises & Guidance

Focus on advancing clinical trials for its lead drug candidates.
Commitment to improving operational efficiencies.
Plans to enhance partnerships with research institutions.

Expectations

Wall Street Expectations

Bull Case

If Relay Therapeutics can demonstrate significant progress in its drug development pipeline and report a narrower EPS loss, it could boost investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to show progress or reports a wider EPS loss, it may raise concerns about its long-term viability and lead to a further decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026, and how does it compare to analyst expectations?

Given the company's recent performance, a narrower EPS loss could indicate improved operational efficiency and investor confidence.

What updates can management provide on the progress of its clinical trials?

Progress in clinical trials is critical for the company's future revenue potential and overall market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Relay Therapeutics to improve its clinical trial outcomes, leading to a more favorable EPS than expected.

Supporting Evidence

The company has a history of beating EPS estimates 75% of the time, suggesting potential for positive surprises.

Options pricing indicates a significant expected move, which may reflect investor sentiment that is not fully captured in analyst estimates.

Key Risk

If the EPS comes in better than -$0.30, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on whether Relay Therapeutics can demonstrate progress in its drug development while managing costs effectively.

Bull Confirmed If

A reported EPS loss of less than -$0.30 would confirm the bull case, indicating improved financial health.

Bear Confirmed If

An EPS loss greater than -$0.50 would confirm the bear case, raising concerns about the company's future.

Pre-Earnings Positioning

Options Market

Implied Move

±39.9%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility surrounding the earnings announcement.

Options are pricing ±39.9% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

66.2%

Calls (72K)P/C Ratio: 7.96Puts (130K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of around 1.43%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further clarity from management.

Miss

Should the company miss expectations, history suggests a potential decline of about 0.50%, leading to increased skepticism about its future.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the status of ongoing clinical trials and any potential new partnerships.
2Specific guidance on expected timelines for drug approvals.
3Any commentary on cost management strategies and operational efficiencies.
4Insights into market demand for the company's drug candidates.
5Management's outlook on future revenue growth and profitability.