Relay Therapeutics (RLAY) stock plummeted 13.33% during the pre-market trading session on Thursday, following the company's disappointing earnings report for the fourth quarter of 2024.
While Relay Therapeutics reported better-than-expected earnings per share (EPS) of -$0.45, beating analyst estimates of -$0.56, the company failed to generate any revenue during the quarter. This missed analysts' expectations of $6.08 million in revenue, weighing heavily on the stock's performance.
Additionally, Relay Therapeutics reported a quarterly loss of $76 million, further contributing to the stock's decline. As a biotech company without any current products on the market, missed revenue expectations and continued losses can be seen as concerning by investors, as it raises questions about the company's ability to generate profitable growth in the future.
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