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RLYB

Rallybio Corporation

RLYB

Rallybio Corporation • NASDAQ
$0.65 ▲ 1.26% (+0.01)
Market Cap $27.50 M
52w High $1.24
52w Low $0.22
Dividend Yield 0%
P/E -2.03
Volume 53.75K
Outstanding Shares 42.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $212K $7.137M ▼ $16.016M ▲ 7.555K% ▲ $0.36 ▲ $16.051M ▲
Q2-2025 $212K $10.269M ▲ $-9.703M ▼ -4.577K% ▼ $-0.22 ▼ $-10.031M ▼
Q1-2025 $212K ▲ $9.882M ▼ $-9.439M ▲ -4.452K% ▲ $-0.21 ▲ $-9.642M ▲
Q4-2024 $38K ▼ $11.616M ▼ $-11.044M ▲ -29.063K% ▼ $-0.25 ▲ $-11.578M ▲
Q3-2024 $299K $12.365M $-11.466M -3.835K% $-0.26 $-12.034M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $59.319M ▲ $67.661M ▲ $4.627M ▼ $63.034M ▲
Q2-2025 $45.749M ▼ $51.003M ▼ $5.039M ▲ $45.964M ▼
Q1-2025 $54.495M ▼ $57.983M ▼ $3.91M ▼ $54.073M ▼
Q4-2024 $65.511M ▼ $68.108M ▼ $6.454M ▼ $61.654M ▼
Q3-2024 $75.139M $79.007M $8.189M $70.818M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $16.016M ▲ $-6.55M ▲ $29.227M ▲ $0 ▼ $22.677M ▲ $-6.55M ▲
Q2-2025 $-9.703M ▼ $-8.379M ▲ $3.035M ▼ $10K ▲ $-5.334M ▼ $-8.379M ▲
Q1-2025 $-9.439M ▲ $-10.205M ▼ $11.081M ▲ $0 ▼ $876K ▲ $-10.205M ▼
Q4-2024 $-11.044M ▲ $-9.862M ▲ $-1.573M ▼ $18K ▲ $-11.417M ▼ $-9.862M ▲
Q3-2024 $-11.466M $-13.545M $22.205M $-11K $8.649M $-13.545M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collaboration And License Revenue
Collaboration And License Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Rallybio is still a pure R&D-stage biotech: it has essentially no product revenue yet, and its income statement is driven almost entirely by research and operating expenses. Losses have been steady over the past several years, which is typical for a small clinical-stage company investing in trials and early science. The size of the yearly loss has begun to ease slightly, suggesting some cost discipline after its pipeline reset, but the business remains firmly unprofitable and will likely stay that way until a drug is approved and commercialized, which is inherently uncertain in biotech.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean. Assets are mostly cash and equivalents, with no financial debt reported, which reduces financing risk. However, cash and total assets have trended down since the IPO as the company funds operations, reflecting the usual cash burn of a development-stage biotech. Equity still makes up nearly all of the capital structure, so existing shareholders effectively shoulder the risk. The narrative about extending the cash runway into the middle of the decade is encouraging, but it also underscores that additional funding decisions will eventually become important if no product is approved by then.

Cash Flow

Cash Flow Cash flows show a consistent outflow from operations, driven by research, clinical development, and overhead, with essentially no offsetting inflows from product sales. Capital spending is minimal, so almost all cash burn is tied to people, trials, and external development work rather than physical assets. This pattern is normal for a lean biotech, but it means the company’s future hinges on how carefully it manages its cash against the timing and outcome of clinical milestones and potential partnership payments.

Competitive Edge

Competitive Edge Rallybio operates in rare diseases, a space where deep expertise, specialized relationships, and focused execution matter more than sheer size. Its team has prior rare-disease experience, and it is pursuing biologically well-understood targets, which can lower scientific risk compared with more speculative approaches. The shift away from its discontinued lead program was a setback, but also showed a willingness to cut losses and refocus. Partnerships with larger players and platform companies add credibility and resources. Still, competition in complement biology and rare disorders is intense, with strong incumbents, so Rallybio’s real competitive strength will depend on whether RLYB116 and follow-on programs can prove clearly differentiated in convenience, safety, or clinical benefit.

Innovation and R&D

Innovation and R&D R&D is the core of Rallybio’s story. After discontinuing its original lead asset, the company has pivoted to RLYB116, a long-acting, under-the-skin complement inhibitor aimed at rare, immune-related conditions where existing options can be burdensome infusions. If it delivers on its early promise, it could offer a more convenient, potentially best-in-class alternative in certain niche indications. The preclinical pipeline, including programs in bone metabolism and iron overload, suggests a disciplined focus on well-validated biological pathways with room for better drugs. Selling its interest in one partner program to extend its cash runway shows a willingness to prioritize and concentrate R&D spending, but it also means more of the future now rests on a smaller set of key assets, especially RLYB116.

Summary

Rallybio is an early-stage rare-disease biotech that has reset its strategy after a major clinical disappointment. Financially, it remains a loss-making, cash-burning R&D platform with no commercial products yet, but it carries no debt and has taken steps to stretch its available cash. The company’s prospects now hinge on successful development of RLYB116 and the maturation of its smaller preclinical pipeline, supported by partnerships and a management team experienced in rare diseases. The opportunity is meaningful if its drugs prove out, but the risks are also high, given scientific, clinical, regulatory, and funding uncertainties that are common in this stage of biotech development.

NEWS

November 6, 2025 · 8:00 AM UTC

Rallybio Reports Third Quarter 2025 Financial Results and Provides Business Updates

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September 25, 2025 · 8:00 AM UTC

Rallybio Completes Dosing of First Cohort in RLYB116 Phase 1 Confirmatory Pharmacokinetic/Pharmacodynamic Study

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September 3, 2025 · 8:00 AM UTC

Rallybio Receives $12.5 Million Equity Milestone Payment from Recursion for Advancement of REV102 Program

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