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We are so back baby.

My cost basis for Relay Therapeutics in my personal brokerage before this trade was near $17.40 per share. Why? Primarily because I hadn't been able to add much cash to my portfolio in the early ramp of Solt DB from May 2022 through early 2024. I had prioritized other positions in recent months, but this will be the priority through the end of 2024 (I'll add or start new positions, too).

This Finch Trade research note will serve as a placeholder -- I'll follow up with a deeper rationale in the next 24 hours.

If you aren't already on Discord, then join me and fellow members as we discuss biotech investing and this trade in a more timely manner.

The Trade

Relay Therapeutics is considered a Growth (Quality) position. I purchased 323.619 shares at $6.1801 per share on September 5, 2024.

Margin of Safety & Allocation

Relay Therapeutics is considered a Growth (Quality) position. The current modeled fair valuation for the company based on my 2024 model, primarily reflecting the commercial value of lirafugratinib (RLY-4008), is below:

• Market close September 4: $6.35 per share
• Modeled Fair Valuation: $23.51 per share
• Allocation Range: Up to 15%

Further Reading

• May 2024 Finch Trade (bought $1,000 at $6.28 per share)
• January 2024 Research Note looking at the year ahead

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