Rallybio reports Q4 EPS (50c), consensus (46c)

Reports Q4 net loss was $20.2M for the fourth quarter of 2023, or net loss per common share of 50c compared to a net loss of $16.2 mm or net loss per common share of 46c for the fourth quarter of 2022. Net loss was $74.6 M, or net loss per share of $1.84, for the year ended December 31 compared to $66.7M, or net loss per share of $2.09, for the year ended December 31. Cash Position: As of December 31 cash, cash equivalents, and marketable securities were $109.9M. “We are encouraged by the continued progress we made across our portfolio throughout 2023. Following our February 2024 announcement regarding the prioritization of our portfolio and reorganization of our operations, we believe our existing capital will fund our revised operating plan into the middle of mid-2026 and intend to focus our efforts in 2024 on our clinical-stage programs, RLYB212 and RLYB116. We have received feedback from the European Medicines Agency for RLYB212 and are pleased to now move forward with the clinical trial application process in Europe where we will conduct the Phase 2 dose confirmation study for RLYB212 in pregnant women at higher risk for FNAIT. The Phase 2 study remains on track to initiate in the second half of 2024,” said Stephen Uden, M.D., Chief Executive Officer of Rallybio. Dr. Uden continued, “In parallel, the manufacturing work for RLYB116 is ongoing and we are encouraged by the data indicating the potential to achieve improved tolerability at higher doses. We expect to complete this work and provide an update on the development plan for RLYB116 in the second half of 2024. We also remain committed to advancing our preclinical programs to the next milestone and will seek alternative options to advance and or finance these programs with a goal of realizing the value of these programs.”