Relay Therapeutics, Inc. (RLAY) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 13.84% of current shares
Recent Dilution: 33.48% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
180M
Potential Supply
25M
Additional shares possible
Splits
None
Past 2 years

Summary

RLAY currently has 180M outstanding shares. with limited dilution risk as only 24.9M additional shares (13.8%) are authorized for issuance. The company has significantly diluted shareholders by 33.48% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 179.8M shares outstanding

180M 25M
Nov 06, 2025

10-Q filing | 172.4M shares outstanding

170M 25M
Aug 07, 2025

10-Q filing | 171.3M shares outstanding

170M 25M
May 05, 2025

10-Q filing | 169.2M shares outstanding

170M 25M
Feb 26, 2025

10-K filing | 169.5M shares outstanding

170M 25M
Nov 06, 2024

10-Q filing | 167.4M shares outstanding

170M 25M
Aug 06, 2024

10-Q filing | 132.8M shares outstanding

130M 25M
May 02, 2024

10-Q filing | 130.8M shares outstanding

130M 25M
Feb 22, 2024

10-K filing | 122.6M shares outstanding

120M 25M
Jan 08, 2024

8-K filing: Relay Therapeutics, Inc. entered into a securities purchase agreement for the private placement of 2,500,000 shares of common stock at $12.00 per share, with gross proceeds of approximately $30 million. ($30.0M proceeds)

120M 25M
Nov 02, 2023

10-Q filing | 122.2M shares outstanding

120M 25M
Aug 08, 2023

10-Q filing | 121.7M shares outstanding

120M 25M
May 04, 2023

10-Q filing | 121.3M shares outstanding

120M 25M
Feb 23, 2023

10-K filing | 112.2M shares outstanding

110M 25M
Nov 03, 2022

10-Q filing | 110.9M shares outstanding

110M 25M
Sep 15, 2022

8-K filing: Relay Therapeutics, Inc. announced an underwritten public offering of 11,320,755 shares of common stock at a price of $26.50 per share, with an option for the underwriters to purchase an additional 1,698,113 shares. ($284.5M proceeds)

110M 25M
Aug 04, 2022

10-Q filing | 108.9M shares outstanding

110M 25M
May 05, 2022

10-Q filing | 108.7M shares outstanding

110M 25M
Feb 24, 2022

10-K filing | 108.3M shares outstanding

110M 25M
Nov 10, 2021

10-Q filing | 108.0M shares outstanding

110M 25M
Oct 14, 2021

8-K filing: Relay Therapeutics, Inc. completed a public offering of 13,207,547 shares of common stock at $26.50 per share, with underwriters exercising their option to purchase an additional 1,981,132 shares. ($399.9M proceeds)

93M 25M
Aug 12, 2021

10-Q filing | 92.7M shares outstanding

93M 25M
May 13, 2021

10-Q filing | 92.4M shares outstanding

92M 25M
Apr 28, 2021

S-1 filing: This S-1 filing discusses potential U.S. federal income tax implications for non-U.S. holders of common stock and details the sale of 1,883,487 shares of common stock by selling stockholders.

90M 25M
Mar 25, 2021

10-K filing | 90.4M shares outstanding

90M 23M
Nov 12, 2020

10-Q filing | 90.0M shares outstanding

90M 23M
Aug 27, 2020

10-Q filing | 4.6M shares outstanding

4.6M 23M
Jul 15, 2020

S-1/A filing: This is an S-1/A (Amendment No. 4) filing for Relay Therapeutics, Inc. registering common stock with a proposed maximum offering price of $437,000,000, covering 23,000,000 shares at $19.00 per share, including an underwriter option to purchase 3,000,000 shares.

4.9M 23M
Jul 15, 2020

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock. The company is offering 20,000,000 shares of common stock, with an additional 3,000,000 shares available to underwriters. The company estimates net proceeds to be $341.1 million or $392.7 million if the option is exercised in full assuming an IPO price of $18.50. After the offering, there will be 86,875,742 shares of common stock outstanding.

4.9M 23M
Jul 14, 2020

S-1/A filing: Relay Therapeutics, Inc. is offering 14,700,000 shares of common stock in an S-1/A filing, with an additional 2,205,000 shares available to underwriters, estimating net proceeds of $229.4 million, intending to use the funds for drug discovery, clinical development, and manufacturing platform expansion.

4.9M 17M
Jul 09, 2020

S-1/A filing: This S-1/A filing details the offering of common stock at an initial public offering price of $17.00 per share. The company intends to use the net proceeds from this offering to fund drug discovery and clinical development efforts as well as further expansion of our manufacturing platform and capabilities, and infrastructure to support our pipeline.

4.9M 17M
Jun 24, 2020

S-1 filing: This is an S-1 filing for an initial public offering of common stock.

17M 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime