Rallybio Reports Q2 2025 Financial Results, Revenue Declines to $212,000

Rallybio Corporation reported its financial results for the second quarter of 2025, revealing a total revenue of $212,000, a decrease from $299,000 in the same period last year. For the first half of 2025, revenue increased to $424,000 compared to $299,000 in the first half of 2024. The company continues to operate at a loss, with a net loss of $9.7 million for the quarter, down from a loss of $16.2 million in the prior year. For the six months ended June 30, 2025, the net loss was $19.1 million, significantly improved from $35.3 million in the same period of 2024.

Operating expenses for the second quarter of 2025 totaled $10.3 million, a reduction from $17.3 million in the same quarter of 2024. This decline was primarily driven by a significant decrease in research and development expenses, which fell to $6.1 million from $12.9 million year-over-year. The reduction in R&D spending was largely attributed to the discontinuation of the RLYB212 program for fetal and neonatal alloimmune thrombocytopenia (FNAIT) and a decrease in costs associated with the RLYB116 program. General and administrative expenses also saw a slight decrease, totaling $4.2 million compared to $4.4 million in the previous year.

In terms of strategic developments, Rallybio announced the discontinuation of its RLYB212 program in April 2025 due to insufficient pharmacokinetic data. Additionally, the company entered into a Membership Interest Purchase Agreement in July 2025 to sell its interest in REV102, an ENPP1 inhibitor, to Recursion Pharmaceuticals for an upfront payment of $7.5 million, with potential future milestone payments. The company also initiated a confirmatory pharmacokinetic and pharmacodynamic study of its lead product candidate, RLYB116, in healthy volunteers, with data expected in the latter half of 2025.

As of June 30, 2025, Rallybio had cash, cash equivalents, and marketable securities totaling $45.7 million, a decrease from $67.8 million at the end of 2024. The company anticipates that its current financial resources will be sufficient to fund operations for more than 12 months, although it will require additional capital to advance its product candidates through regulatory approval. Rallybio's accumulated deficit has now reached $312.2 million, reflecting the ongoing investment in research and development without any commercialized products to date.

Looking ahead, Rallybio remains focused on advancing its clinical programs, particularly RLYB116, while managing its operational costs. The company acknowledges the need for substantial additional funding to support its growth strategy and plans to explore various financing options, including equity sales and collaborations, to ensure the continuation of its development efforts.