Rallybio Corp RLYB

Healthcare SIC 2834 - Pharmaceutical Preparations Nasdaq

We are a clinical-stage biotechnology company comprised of experienced biopharma industry leaders with extensive research, development, and rare disease expertise with a mission to develop and commercialize life-transforming therapies for patients with severe and rare diseases. Our lead program, RLYB116, is a differentiated complement component 5 ("C5") inhibitor with the potential to treat diseases of complement dysregulation. In addition, RLYB332, a long-acting matriptase-2 ("MTP-2") antibody for the treatment of diseases of iron overload, is currently in preclinical development.

On March 1, 2026, we entered into an Agreement and Plan of Merger and Reorganization (the "Merger Agreement") with Candid, a clinical-stage biotechnology company advancing a leading portfolio of T-cell engager ("TCE") therapeutics for autoimmune diseases, and Farmington Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Rallybio ("Merger Sub"). Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, Merger Sub will be merged with and into Candid, with Candid surviving as a wholly owned subsidiary of Rallybio (the "Merger"). The Merger is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes.

Last close 16.93 2026-09-04
Market cap $89.9M 2026-06-30 share count
52-week range 3.67 - 17.57

Valuation FY2025 figures against the last close

P/S104.8x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-1.59

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue $858.0K$636.0K
R&D $19.6M$41.5M$53.5M$40.7M$26.9M$17.6M
SG&A $14.3M$19.6M$25.4M$27.2M$18.7M$7.7M
Total operating expenses $33.9M$61.1M$78.9M$67.9M$45.6M$25.3M
Operating income -$33.1M-$60.5M-$78.9M-$67.9M-$45.6M-$25.3M
Interest expense $0$10.0K$49.0K
Pre-tax income -$8.1M-$55.5M-$72.5M-$65.6M-$45.5M-$24.9M
Income tax $0$0$0$0$0$15.0K
Net income -$9.0M-$57.8M-$74.6M-$66.7M-$47.0M-$26.4M
EPS, basic -1.59-10.61-1.84-2.09-1.84
EPS, diluted -1.59-10.61-1.84-2.09-1.84-1.52
Shares, diluted (wtd. avg.) $5.6M$5.4M$40.4M$31.8M$25.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $31.4M$13.9M$24.5M$57.0M$175.3M$140.2M
Short-term investments $23.4M$51.6M$85.4M$112.0M$0
Total current assets $61.3M$67.8M$114.8M$179.5M$180.9M$141.3M
Property, plant and equipment $23.0K$115.0K$246.0K$385.0K$511.0K$287.0K
Total assets $62.3M$68.1M$115.6M$180.4M$182.2M$141.9M
Accounts payable $126.0K$278.0K$976.0K$1.1M$603.0K$1.6M
Total current liabilities $4.2M$6.2M$9.3M$10.7M$6.6M$5.8M
Total liabilities $4.3M$6.5M$9.4M$11.1M$6.6M$5.9M
Retained earnings -$302.0M-$293.0M-$235.2M-$160.7M-$94.0M-$47.0M
Total equity $58.0M$61.7M$106.2M$169.3M$175.6M$136.0M$16.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$29.8M-$49.3M-$60.3M-$57.3M-$45.5M-$22.0M
Depreciation and amortisation $100.0K$100.0K$100.0K$200.0K$100.0K$62.0K
Stock-based compensation $5.3M$8.0M$10.9M$9.5M$3.6M$704.0K
Capital expenditure $0$12.0K$54.0K$333.0K$137.0K
Investing cash flow $47.3M$33.5M$27.7M-$112.2M-$2.3M-$2.1M
Financing cash flow $16.0K$5.2M$143.0K$51.1M$83.0M$144.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-368568.

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