Rallybio jumps on drug development deal with J&J

Rallybio

11/04/2024 10:46

** Shares of biotech firm Rallybio  RLYB.O  surge 74% to
$2.84 in premarket
    ** Late on Wednesday, RLYB said will collaborate with
Johnson & Johnson  JNJ.N  to develop therapies aimed at reducing
risk of a rare blood disorder called fetal and neonatal
alloimmune thrombocytopenia (FNAIT)
    ** FNAIT is a condition in which the mother's immune system
attacks blood platelets in the fetus or baby and can potentially
cause life-threatening bleeding 
    ** J&J will make a $6.6 million equity investment in RLYB
along with funding for FNAIT awareness initiative
    ** RLYB plans to initiate a mid-stage study of its antibody
drug, RLYB212, in the second half of 2024
    ** RLYB21 is aimed at preventing FNAIT in pregnant
individuals who are at high risk of the condition 
    ** As of last close, RLYB down ~32% and J&J down 4.2% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))