Rallybio rises as co announces job cuts

Rallybio

06/02/2024 15:29

** Shares of Rallybio  RLYB.O  rise 24.8% to $1.56
    ** Co announces a 45% workforce reduction to focus resources
to prioritize development of two of its therapies RLYB212 and
RLYB116 which are ready for mid-stage trials
    ** The workforce reduction represents 19 positions and will 
result in aggregate charges of about $3.3 million
    ** RLYB212 is an antibody in development for the prevention
of fetal and neonatal alloimmune thrombocytopenia, a rare
disorder in which the baby's platelets are attacked and
destroyed by the mother's immune cells in her blood stream
    ** RLYB116 is in development for patients with a few types
of rare diseases
    ** Stock fell ~78% in the last 12 months

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))