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Rallybio Corporation (RLYB) investor relations material

Rallybio Corporation Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Lead program RLYB116 advanced to a confirmatory PK/PD study, with topline data from Cohorts 1 and 2 expected in Q3 and Q4 2025.

  • RLYB212 program for FNAIT discontinued in April 2025 after Phase 2 trial failed to achieve target concentrations.

  • Interest in REV102 sold to Recursion in July 2025 for $7.5M upfront, with potential for $12.5M contingent equity and $5M milestone cash payment, plus royalties.

  • Workforce reduced by 40% in May 2025 to focus resources on lead and preclinical programs, incurring $1.7M in restructuring charges.

  • Cash, cash equivalents, and marketable securities totaled $45.7M as of June 30, 2025, expected to fund operations into mid-2027.

Financial highlights

  • Net loss was $9.7M for Q2 2025 ($0.22 per share), compared to $16.2M ($0.37 per share) in Q2 2024.

  • Revenue from collaboration and license agreements was $0.2M for Q2 2025 and $0.4M for the six months ended June 30, 2025.

  • Research and development expenses decreased to $6.1M in Q2 2025 from $12.9M in Q2 2024, mainly due to program discontinuation and workforce reduction.

  • General and administrative expenses were $4.2M in Q2 2025, down from $4.4M in Q2 2024.

  • Cash used in operating activities was $18.6M for the six months ended June 30, 2025, down from $25.9M year-over-year.

Outlook and guidance

  • Cash and marketable securities expected to fund operations into mid-2027, but not sufficient to fund product candidates through regulatory approval; additional capital will be needed.

  • RLYB116 confirmatory PK/PD study data anticipated in Q3 and Q4 2025; focus remains on advancing RLYB116 and preclinical programs.

  • Potential future milestone and royalty payments from the sale of REV102 interest to Recursion.

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Frequently asked questions

Rallybio Corporation is a biotechnology company focused on developing therapies for rare and severe diseases. The company specializes in antibody and protein-based treatments targeting immune and hematological disorders. Its research and development efforts aim to address conditions with high unmet medical needs through clinical trials and collaborations with scientific partners. The company is headquartered in New Haven, Connecticut, and its shares are listed on the NASDAQ.

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