SoftBank-Backed Relay Therapeutics Seeks $265 Million in IPO

Oncology drug developer Relay Therapeutics Inc. set terms for a U.S. initial public offering that could raise as much as $265 million.

The Cambridge, Massachusetts-based company plans to market 14.7 million shares for $16 to $18 apiece, according to a filing Thursday with the U.S. Securities and Exchange Commission. At the top end of the range, the company would be valued at as much as $1.5 billion, based on the number of outstanding shares listed in the filing.