Rallybio Corp SEC 10-Q Report

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