RLAY - Relay Therapeutics: A Long-Term Position In Data-Driven Drug Developer Looks Attractive

• Relay Therapeutics stock has fallen from a price of $62 in mid-January, to $41.3 at the time of writing.
• The data-driven drug developer is slowly becoming a clinical-stage biotech with three assets in development - one in partnership with Genentech.
• Its targets are attractive - the RAS signalling pathway, FGFR2 and PI3K?, and Relay makes the case that each candidate has a significant advantage over current standards of care.
• Development cycles are slow and it could be one to two years before there's conclusive data, so investors will need to be patient.
• I like Relay stock at current price - I do not see much downside - despite the current bear market for biotech - but long term, Relay's pipeline could prove to be disruptive and lucrative.

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