Why Relay Therapeutics Plummeted by Nearly 14% Today

Investors weren't happy with the company's latest effort at capital-raising. Relay Therapeutics (RLAY -13.83%), one of a clutch of biotech companies that are developing treatments in the wide and potentially lucrative oncology field, didn't have a good Wednesday on the stock market. This followed the latest news about the biotech company's upcoming secondary share issue, which many investors consider to be unacceptably dilutive. On the back of that news, Relay's stock closed the day almost 14% lower, in con ...