Relay Therapeutics Inc. has raised about $460 million via an IPO on the Nasdaq Global Market.

The Cambridge, Mass.-based precision medicines company sold a total of 23 million common shares for $20 each, including 3 million shares sold as underwriters fully exercised their overallotment option.

Relay Therapeutics first announced plans to offer 14.7 million shares for between $16 and $18 apiece and later upsized the offering as well as the price range. The company's stock began trading on the exchange on July 16 under the ticker symbol RLAY.

The company previously said the net proceeds from the offering will fund the remainder of two early-stage clinical trials for the cancer therapy RLY-1971 and a portion of confirmatory phase 2/3 trials.

J.P. Morgan, Goldman Sachs & Co. LLC, Cowen and Guggenheim Securities served as the joint book-running managers for the IPO.