Rallybio announces 45% reduction in workforce

Rallybio announced the prioritization of its portfolio and a 45% workforce reduction to focus resources on its Phase 2-ready clinical stage programs, RLYB212 and RLYB116. RLYB212 is a novel human monoclonal anti-HPA-1a antibody in development for the prevention of fetal and neonatal alloimmune thrombocytopenia, or FNAIT, and RLYB116 is a once-weekly, low volume subcutaneously injected inhibitor of complement component 5, or C5, in development for patients with complement-mediated diseases. With these changes, Rallybio expects to extend its cash runway into mid-2026. The company will implement a 45% workforce reduction, representing 19 positions, which will be substantially complete by the end of the first quarter of 2024. Rallybio estimates that the workforce reduction will result in aggregate charges of approximately $3.3M, primarily for one-time employee severance and benefit costs and excluding share-based compensation expense. Based on the above actions, Rallybio’s cash, cash equivalents and marketable securities of approximately $109.9M as of December 31, 2023, are now expected to fund its revised operating plan into mid-2026.