Rallybio(RLYB)2024-05-09 12:11Financial Performance - Rallybio reported a net loss of 0.47 per common share, for Q1 2024, compared to a net loss of 0.43 per common share, in Q1 2023[13]. - R&D expenses for Q1 2024 were 11.2 million in Q1 2023, primarily due to increased payroll and severance costs[10]. - General and administrative expenses decreased to 7.2 million in Q1 2023, attributed to lower administrative costs[10]. Cash Position - As of March 31, 2024, Rallybio had 94.2 million in cash, cash equivalents, and marketable securities, providing a runway into mid-2026[1]. Clinical Development - The company is on track to initiate a Phase 2 trial for RLYB212 in pregnant women at higher risk for FNAIT in the second half of 2024[4]. - Approximately 10,000 pregnant women have been screened in the FNAIT natural history study as of May 1, 2024, which aims to provide a contemporary dataset for HPA-1a alloimmunization frequency[9]. - Rallybio expects to disclose data from an epidemiologic analysis on FNAIT risk in mid-2024, which will help identify a larger market opportunity for RLYB212[2]. Strategic Initiatives - Rallybio announced a collaboration with Johnson & Johnson, receiving a 6.6 million equity investment to advance therapeutic solutions for FNAIT[5]. - The company is prioritizing its portfolio and has implemented a 45% workforce reduction to focus on its two Phase 2 ready assets, RLYB212 and RLYB116[5]. - RLYB116 manufacturing is on track for completion in the second half of 2024, with additional biomarker development work ongoing[6].