Business
Rallybio Reports Second Quarter 2024 Financial Results and Provides Business Updates
– On Track to Initiate RLYB212 Phase 2 Dose Confirmation Trial in Pregnant Women at Higher Risk of FNAIT in 4Q 2024 – – $88.6 Million in Cash, Cash
About this update from Rallybio Corporation
[{"type":"text","content":"\n– On Track to Initiate RLYB212 Phase 2 Dose Confirmation Trial in Pregnant Women at Higher Risk of FNAIT in 4Q 2024 –\n\n\n– $88.6 Million in Cash, Cash Equivalents, and Marketable Securities as of June 30, 2024 Provides Runway into Mid-2026 –\n\n\n NEW HAVEN, Conn.--(BUSINESS WIRE)--\nRallybio Corporation (Nasdaq: RLYB), a clinical-stage biotechnology company translating scientific advances into transformative therapies for patients with devastating rare diseases, today reported second quarter financial results for the period ended June 30, 2024, and provided an update on recent company developments.\n\n\n“We are working expeditiously towards the initiation of our Phase 2 dose confirmation trial for RLYB212 in pregnant women at higher risk of fetal and neonatal alloimmune thrombocytopenia (FNAIT), which is on track for the fourth quarter of 2024,\" said Stephen Uden, M.D., Chief Executive Officer of Rallybio. \"Recent data from our large-scale genomic analysis of FNAIT risk across a broad population of diverse ancestries provides the first clear evidence that the proportion of pregnant women at higher risk for FNAIT each year has been significantly underestimated, giving us even greater urgency to bring RLYB212 to this underserved population that comprises a market opportunity of more than $1.6 billion. We look forward to providing updates as we continue to advance our RLYB212 program with a team of highly dedicated investigators who share our mission to prevent this devastating disease.\"\n\n\nRecent Business Highlights and Upcoming Milestones:\n\n\nCorporate Updates\n\n\n\nIn April 2024, Rallybio announced a collaboration with Momenta Pharmaceuticals, Inc., a Johnson & Johnson Company, to advance complementary therapeutic solutions for pregnant women at risk of FNAIT. Rallybio received an equity investment of $6.6 million, before deducting offering expenses, from Johnson & Johnson Innovation – JJDC, Inc. In addition, Rallybio received an upfront payment of $0.5 million related to the collaboration and license agreement with Johnson & Johnson.\n\n\n\nRLYB212 Program\n\n\n\nRallybio remains on track to initiate a Phase 2 trial in pregnant women at higher risk for HPA-1a alloimmunization and FNAIT in the fourth quarter of 2024. The primary objectives of this trial are to assess the pharmacokinetics and safety of subcutaneously...