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The ratio of red candies to the other colors of candies is 2:5. This means that for every 2 red candies, there are 5 candies of other colors.
Let's say the number of red candies is 2x. Therefore, the number of candies of other colors is 5x.
The total number of candies in the bag is 2x + 5x = 7x.
We are given that the total number of candies is 350, so we can set up the equation 7x = 350.
Dividing both sides of the equation by 7, we get x = 50.
Therefore, the number of red candies in the bag is 2x = 2 * 50 = 100.
So, there are 100 red candies in the bag. Answer: \boxed{100}.