Rallybio(US:RLYB)2024-08-08 12:05Financial Performance - Rallybio reported revenue of $0.3 million for Q2 2024, compared to no revenue in the same period in 2023, attributed to a collaboration with Johnson & Johnson[8] - Total revenue for the three months ended June 30, 2024, was $299,000, compared to $0 for the same period in 2023[14] - Rallybio reported a net loss of $16.2 million, or $0.37 per common share, for Q2 2024, compared to a net loss of $18.6 million, or $0.46 per common share, in Q2 2023[10] - Net loss for the three months ended June 30, 2024, was $16,236,000, compared to a net loss of $18,630,000 for the same period in 2023, reflecting an improvement of approximately 12.8%[14] - Net loss per common share for the three months ended June 30, 2024, was $(0.37), compared to $(0.46) for the same period in 2023[14] - Interest income for the three months ended June 30, 2024, was $1,143,000, compared to $1,608,000 for the same period in 2023, a decrease of approximately 29%[14] Expenses - Research and Development (R&D) expenses were $12.9 million for Q2 2024, a slight decrease from $13.1 million in Q2 2023, primarily due to reduced payroll costs[9] - Research and development expenses decreased to $12,946,000 for the three months ended June 30, 2024, from $13,130,000 in the same period of 2023, representing a reduction of approximately 1.4%[14] - General and Administrative (G&A) expenses decreased to $4.4 million in Q2 2024 from $7.0 million in Q2 2023, mainly due to lower payroll and consulting fees[10] - General and administrative expenses decreased to $4,388,000 for the three months ended June 30, 2024, from $6,953,000 in the same period of 2023, a decrease of approximately 37%[14] Cash and Assets - As of June 30, 2024, Rallybio had cash, cash equivalents, and marketable securities totaling $88.6 million, providing a runway into mid-2026[1] - Cash, cash equivalents, and marketable securities totaled $88,614,000 as of June 30, 2024, down from $109,929,000 as of December 31, 2023[14] - Total assets decreased to $92,431,000 as of June 30, 2024, from $115,620,000 as of December 31, 2023[14] - Total stockholders' equity decreased to $80,017,000 as of June 30, 2024, from $106,184,000 as of December 31, 2023[14] Liabilities - Total liabilities increased to $12,414,000 as of June 30, 2024, compared to $9,436,000 as of December 31, 2023[14] Clinical Development - The company is on track to initiate a Phase 2 trial for RLYB212 in Q4 2024, targeting pregnant women at higher risk for fetal and neonatal alloimmune thrombocytopenia (FNAIT)[3] - An epidemiological analysis indicated that over 30,000 pregnancies each year in key geographies are at higher risk for FNAIT, representing a 40% increase from prior estimates[4] - RLYB116 manufacturing is progressing and expected to be completed in Q3 2024, with additional biomarker analysis data anticipated in Q4 2024[6] - The company is advancing preclinical programs and seeking partnerships and non-dilutive financing options to support these initiatives[7] Collaboration - Rallybio's collaboration with Johnson & Johnson included a $6.6 million equity investment and a $0.5 million upfront payment related to the collaboration[2]