** Shares of Relay Therapeutics RLAY.O up 10.34% to $13.32 in Weds afternoon trading after promising vascular disorder drug data

** Co early Tues said its experimental treatment zovegalisib showed it can shrink vascular malformations and improve symptoms in patients with rare vascular disorders in mid-stage study

** After the bell Tues, Cambridge, Massachusetts-based firm commenced $175 mln stock offering

** Jefferies, TD Cowen, Goldman Sachs and Guggenheim Securities joint bookrunners

** RLAY intends to use net offering proceeds to fund R&D for current or additional pipeline candidates, for working capital, capex, among other purposes, per the prospectus

** It has ~191.6 mln shares outstanding for about $2.5 bln current market cap

** Stock now up 57% YTD

** 6 analysts rate the stock "strong buy", 7 rate "buy"; median PT $22, according to LSEG data