The UK firm's platform has been validated by the partnerships sealed with AstraZeneca and Merck KGaA and the development of an internal five-strong product pipeline, acting CEO Francois Nader told attendees at the J.P. Morgan Healthcare Conference.  

Investors have deserted Relay after RLY-2608 failed to produce any clear response in breast cancer patients, but it maintains underlying data represent proof-of-concept for a more targeted and less toxic competitor to Novartis's Piqray.

The FDA placed a partial hold on the VELA study of BLU-222 due to some patients experiencing visual toxicity, but the company anticipates reporting data and said it is near identifying Phase II dose.

The FGFR inhibitor beats prior entrants on efficacy in cholangiocarcinoma, although Relay presented data at ESMO for its investigational RLY-4008 showing especially high efficacy and tolerability.