Rallybio Corp SEC 10-Q Report
Rallybio Corp has released its Q2 2025 Form 10-Q report, highlighting a total revenue of $0.2 million, a decrease from 2024, but a net income of $16.0 million, a significant improvement from a loss in the previous year. Key developments include the initiation of a PK/PD study for RLYB116, the discontinuation of the RLYB212 program, and a strategic alliance with AbCellera. The company also sold its interest in REV102 to Recursion Pharmaceuticals for $20 million. Future plans focus on hematologic conditions and collaboration with Johnson & Johnson.
Rallybio Corp, a biopharmaceutical company focused on developing transformative therapies for patients with severe and rare diseases, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and key business developments during the period.
Financial Highlights
Total Revenue: $0.2 million, a decrease of $0.1 million compared to the same period in 2024, primarily due to lower collaboration and license revenue.
Loss from Operations: $(6.9) million, an improvement of $5.1 million compared to the same period in 2024, mainly driven by reduced research and development expenses.
Net Income: $16.0 million, a significant turnaround from a net loss of $11.5 million in the same period in 2024, largely attributed to a gain from the sale of joint venture interests.
Net Income (Loss) Per Common Share, Basic and Diluted: $0.36, compared to a loss of $(0.26) per share in the same period in 2024, reflecting the positive impact of the joint venture sale.
Business Highlights
RLYB116 Development: RLYB116, a complement component 5 (C5) inhibitor, is in development for treating diseases of complement dysregulation. A confirmatory PK/PD study was initiated in Q2 2025, with data expected in Q4 2025. The study aims to demonstrate improved tolerability and sustained complement inhibition.
RLYB212 Program Discontinuation: The RLYB212 program for preventing fetal and neonatal alloimmune thrombocytopenia (FNAIT) was discontinued in April 2025 due to the inability to achieve target concentrations in Phase 2 trials.
RLYB332 Development: RLYB332, a long-acting version of RLYB331, is in preclinical development for treating diseases of iron overload. Non-clinical studies have shown favorable tolerability and sustained pharmacodynamic effects.
JV Sale with Recursion: In July 2025, Rallybio sold its interest in REV102, an ENPP1 inhibitor, to Recursion Pharmaceuticals. The sale included a $20 million payment and potential future milestone payments and royalties.
Workforce Reduction: In May 2025, Rallybio reduced its workforce by approximately 40% to focus resources on its lead program, RLYB116, and preclinical development programs.
Future Outlook for RLYB116: The company plans to focus on hematologic conditions like immune platelet transfusion refractoriness and refractory antiphospholipid syndrome, with a combined market opportunity of $5 billion.
Collaboration with Johnson & Johnson: A two-year collaboration agreement with Johnson & Johnson was established to advance research into products addressing unmet needs related to FNAIT. However, the discontinuation of RLYB212 affects future payments related to this collaboration.
Manufacturing Enhancements: Manufacturing process enhancements for RLYB116 have been completed, aiming to improve the drug's tolerability and efficacy.
Strategic Alliance with AbCellera: A strategic alliance with AbCellera was formed to discover and develop novel antibody-based therapeutics for rare diseases, leveraging AbCellera's discovery engine and Rallybio's expertise.
SEC Filing: Rallybio Corp [ RLYB ] - 10-Q - Nov. 06, 2025
