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Side-by-side financial comparison of Relay Therapeutics, Inc. (RLAY) and Taysha Gene Therapies, Inc. (TSHA). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $5.5M, roughly 1.3× Taysha Gene Therapies, Inc.).
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
Taysha Gene Therapies, Inc. is a clinical-stage biotechnology company specializing in developing adeno-associated virus (AAV)-based gene therapies for rare monogenic central nervous system disorders with high unmet medical needs. Its core pipeline targets serious life-threatening neurological conditions, with primary operations and market focus across North America and European regions.
RLAY vs TSHA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0M | $5.5M |
| Net Profit | — | $-27.9M |
| Gross Margin | — | — |
| Operating Margin | — | -516.0% |
| Net Margin | — | -507.8% |
| Revenue YoY | — | 171.3% |
| Net Profit YoY | — | -48.3% |
| EPS (diluted) | — | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $7.0M | $5.5M | ||
| Q3 25 | $0 | $0 | ||
| Q2 25 | — | $2.0M | ||
| Q1 25 | $7.7M | $2.3M | ||
| Q4 24 | $0 | $2.0M | ||
| Q3 24 | $0 | $1.8M | ||
| Q2 24 | $0 | $1.1M | ||
| Q1 24 | $10.0M | $3.4M |
| Q4 25 | — | $-27.9M | ||
| Q3 25 | $-74.1M | $-32.7M | ||
| Q2 25 | — | $-26.9M | ||
| Q1 25 | $-77.1M | $-21.5M | ||
| Q4 24 | — | $-18.8M | ||
| Q3 24 | $-88.1M | $-25.5M | ||
| Q2 24 | $-92.2M | $-20.9M | ||
| Q1 24 | $-81.4M | $-24.1M |
| Q4 25 | — | -516.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1347.1% | ||
| Q1 25 | -1105.2% | -930.5% | ||
| Q4 24 | — | -985.8% | ||
| Q3 24 | — | -1448.4% | ||
| Q2 24 | — | -1915.4% | ||
| Q1 24 | -903.0% | -713.3% |
| Q4 25 | — | -507.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1353.6% | ||
| Q1 25 | -1003.6% | -935.2% | ||
| Q4 24 | — | -929.0% | ||
| Q3 24 | — | -1427.5% | ||
| Q2 24 | — | -1882.0% | ||
| Q1 24 | -813.3% | -705.4% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | $-0.43 | $-0.09 | ||
| Q2 25 | — | $-0.09 | ||
| Q1 25 | $-0.46 | $-0.08 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | $-0.63 | $-0.10 | ||
| Q2 24 | $-0.69 | $-0.09 | ||
| Q1 24 | $-0.62 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $84.0M | $319.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $567.1M | $246.9M |
| Total Assets | $621.3M | $343.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.0M | $319.8M | ||
| Q3 25 | $91.6M | $297.3M | ||
| Q2 25 | — | $312.8M | ||
| Q1 25 | $93.5M | $116.6M | ||
| Q4 24 | $124.3M | $139.0M | ||
| Q3 24 | $152.4M | $157.7M | ||
| Q2 24 | $134.1M | $172.7M | ||
| Q1 24 | $152.9M | $124.0M |
| Q4 25 | $567.1M | $246.9M | ||
| Q3 25 | $607.7M | $219.0M | ||
| Q2 25 | — | $248.7M | ||
| Q1 25 | $721.1M | $55.1M | ||
| Q4 24 | $777.8M | $71.5M | ||
| Q3 24 | $838.9M | $88.8M | ||
| Q2 24 | $681.7M | $108.9M | ||
| Q1 24 | $745.8M | $53.8M |
| Q4 25 | $621.3M | $343.3M | ||
| Q3 25 | $670.0M | $316.6M | ||
| Q2 25 | — | $333.3M | ||
| Q1 25 | $799.4M | $138.4M | ||
| Q4 24 | $871.3M | $160.4M | ||
| Q3 24 | $930.1M | $180.2M | ||
| Q2 24 | $772.5M | $200.4M | ||
| Q1 24 | $841.4M | $153.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-235.5M | $-26.7M |
| Free Cash FlowOCF − Capex | $-235.9M | — |
| FCF MarginFCF / Revenue | -3370.0% | — |
| Capex IntensityCapex / Revenue | 5.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-622.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-235.5M | $-26.7M | ||
| Q3 25 | $-62.1M | $-24.2M | ||
| Q2 25 | — | $-20.2M | ||
| Q1 25 | $-73.2M | $-22.0M | ||
| Q4 24 | $-249.1M | $-18.3M | ||
| Q3 24 | $-75.1M | $-21.6M | ||
| Q2 24 | $-65.8M | $-21.5M | ||
| Q1 24 | $-50.3M | $-19.8M |
| Q4 25 | $-235.9M | — | ||
| Q3 25 | $-62.1M | $-24.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-73.6M | — | ||
| Q4 24 | $-251.1M | $-18.3M | ||
| Q3 24 | $-75.3M | $-21.6M | ||
| Q2 24 | $-65.8M | $-21.7M | ||
| Q1 24 | $-52.1M | $-19.9M |
| Q4 25 | -3370.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -958.4% | — | ||
| Q4 24 | — | -905.5% | ||
| Q3 24 | — | -1210.9% | ||
| Q2 24 | — | -1951.9% | ||
| Q1 24 | -520.7% | -584.5% |
| Q4 25 | 5.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 18.1% | ||
| Q1 24 | 17.8% | 4.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
