Rallybio Corp

Listed Company

RLYBCIK 0001739410NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$858.0K

Net Income

$-9.00M

Total Assets

$62.26M

Equity

$57.96M

Shares Out

5.29M

Op. Cash Flow

$-29.81M

Business

Rallybio Corp is a clinical-stage biotechnology company that develops and advances therapeutics for severe and rare diseases. It offers a pipeline of biologic and small-molecule product candidates, including RLYB212 (an anti‑HPA‑1a antibody for prevention of FNAIT), RLYB116 (a subcutaneous C5 inhibitor Affibody), RLYB332 (MTP‑2 inhibitor for iron overload) and ENPP1 small‑molecule programs. Its activities are organized around therapeutic areas—maternal‑fetal health, complement dysregulation, hematology and metabolic disorders—and collaborations, licensing and joint‑venture discovery projects. Rallybio conducts multinational clinical studies and relies on third‑party contract manufacturers, partners and collaborators to develop, supply and potentially commercialize its products globally, with trial sites and market focus in North America, Europe and Australia.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	858,000	636,000	—	—	—
Research and development	20	42	54	41	27
General and administrative	14	20	25	27	19
Total operating expenses	34	61	79	68	46
Loss from operations	−33	−60	−79	−68	−46
Interest income	2	4	6	2	54,000
Gain on sale of joint venture and other income	23	744,000	262,000	342,000	96,000
Total other income, net	25	5	6	2	140,000
Loss before equity in losses of joint venture	−8	−56	−73	−66	—
Loss on investment in joint venture	874,000	2	2	1	2
Net loss	−9	−58	−75	−67	−47
Net loss per common share, basic (in dollars per share)	−1.59	−10.61	−1.84	−2.09	−1.84
Net loss per common share, diluted (in dollars per share)	−1.59	−10.61	−1.84	−2.09	−1.84
Weighted-average common shares outstanding, basic (in shares)	6	5	40	32	26
Weighted-average common shares outstanding, diluted (in shares)	6	5	40	32	26
Net unrealized (loss) gain on marketable securities	−50,000	53,000	229,000	−214,000	0
Other comprehensive (loss) gain	−50,000	53,000	229,000	−214,000	0
Comprehensive loss	−9	−58	−74	−67	−47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	14	24	57	175
Marketable securities	23	52	85	112	0
Prepaid expenses and other current assets	7	2	5	11	6
Total current assets	61	68	115	179	181
Property and equipment, net	23,000	115,000	246,000	385,000	511,000
Operating lease right-of-use assets	175,000	152,000	346,000	524,000	700,000
Other assets, noncurrent	810,000	0	—	—	—
Total assets	62	68	116	180	182
Accounts payable	126,000	278,000	976,000	1	603,000
Accrued expenses	4	5	8	9	6
Operating lease liabilities	94,000	154,000	219,000	181,000	0
Deferred revenue	212,000	848,000	0	—	—
Total current liabilities	4	6	9	11	7
Operating lease liabilities, noncurrent	82,000	0	173,000	374,000	0
Deferred revenue, noncurrent	0	212,000	0	—	—
Total liabilities	4	6	9	11	7
Commitments and contingencies (Note 10)	—	—	—	—	—
Common stock, $0.0001 par value per share; 200,000,000 shares authorized as of December 31, 2025 and 2024; and 5,283,321 and 5,188,743 shares issued and outstanding as of December 31, 2025 and 2024, respectively	4,000	4,000	4,000	4,000	3,000
Preferred stock, $0.0001 par value per share; 50,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued or outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Additional paid-in capital	360	355	341	330	270
Accumulated other comprehensive gain	18,000	68,000	15,000	−214,000	0
Accumulated deficit	−302	−293	−235	−161	−94
Total stockholders' equity	58	62	106	169	176
Total liabilities and stockholders' equity	62	68	116	180	182

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	92,000	131,000	150,000	167,000	109,000
Net accretion of discounts/premiums on debt securities	−573,000	−2	−3	−435,000	0
Share-based compensation	5	8	11	9	4
Gain on sale of joint venture	−22	0	—	—	—
Prepaid expenses, operating right-of-use assets and other current assets	−2	3	6	−5	−5
Accounts payable	−152,000	−698,000	−99,000	487,000	−976,000
Accrued expenses and operating lease liabilities	−1	−3	−1	3	2
Deferred revenue	−848,000	1	0	—	—
Net cash used in operating activities	−30	−49	−60	−57	−46
Purchases of marketable securities	−18	−49	−108	−201	0
Proceeds from maturities of marketable securities	46	84	138	90	0
Proceeds from sale of common stock received from sale of joint venture	20	0	—	—	—
Investment in joint venture	−2	−2	−2	−300,000	−2
Net cash provided by investing activities	47	33	28	−112	−2
Proceeds from the issuance of common stock from a securities purchase agreement	0	5	0	—	0
Proceeds from the issuance of common stock under the stock purchase plan	16,000	62,000	282,000	217,000	0
Payments of offering costs	0	−268,000	−139,000	−693,000	−3
Net cash provided by financing activities	16,000	5	143,000	51	83
Net increase (decrease) in cash and cash equivalents	17	−11	−32	−118	—

Filings

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