# EDGAR Filing Document

**Accession Number:** 0001739410
**File Stem:** 0001739410-25-000131
**Filing Date:** 2025-11
**Character Count:** 17350
**Document Hash:** d16e9034a8bd3fcdeab23198e1ee078f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001739410-25-000131.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001739410-25-000131

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251106

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rallybio Corp
- **CENTRAL INDEX KEY:** 0001739410
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 851083789
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40693
- **FILM NUMBER:** 251456287

**BUSINESS ADDRESS:**
- **STREET 1:** 234 CHURCH STREET
- **STREET 2:** SUITE 1020
- **CITY:** NEW HAVEN
- **STATE:** CT
- **ZIP:** 06510
- **BUSINESS PHONE:** 203- 859-3820

**MAIL ADDRESS:**
- **STREET 1:** 234 CHURCH STREET
- **STREET 2:** SUITE 1020
- **CITY:** NEW HAVEN
- **STATE:** CT
- **ZIP:** 06510

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Rallybio Holdings, LLC
- **DATE OF NAME CHANGE:** 20180502

?xml version='1.0' encoding='ASCII'? rlyb-20251106

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

______________________________________________________

**FORM 8-K**

______________________________________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 6, 2025**

______________________________________________________

**RALLYBIO CORPORATION**

**(Exact name of Registrant as Specified in Its Charter)**

______________________________________________________

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40693** | **85-1083789** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |
| | **234 Church Street, New Haven, Connecticut** | **06510** |
| | (Address of Principal Executive Offices) | (Zip Code) |

---

**Registrant's Telephone Number, Including Area Code: 203 859-3820**

**(Former Name or Former Address, if Changed Since Last Report)**

______________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.0001 per share | RLYB | The NASDAQ Capital Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**Item 2.02 Results of Operations and Financial Condition.**

On November 6, 2025, Rallybio Corporation issued a press release announcing its financial results for the quarter ended September 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

(d)Exhibits

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| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | <u>[Press release issued by the Company on](rlyb-2025116xex991pressrel.htm)[November 6](rlyb-2025116xex991pressrel.htm)[, 2025 regarding financial results for the quarter ended](rlyb-2025116xex991pressrel.htm)[September](rlyb-2025116xex991pressrel.htm)[30, 2025.](rlyb-2025116xex991pressrel.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
| | | | **RALLYBIO CORPORATION** |
| Date: | November 6, 2025 | By: | /s/ Jonathan I. Lieber |
|  |  |  | Jonathan I. Lieber<br>Chief Financial Officer and Treasurer |

---

## Exhibit 99.1

Exhibit 99.1

![img96626370_0a.jpg](img96626370_0a.jpg)

**Rallybio Reports Third Quarter 2025 Financial Results and Provides Business Updates**

*– RLYB116 Confirmatory PK/PD Study Data Expected in 4Q 2025 –*

*– Generated $20 Million from Sale of Interest in REV102 –*

 *– Cash Runway Extended through 2027 –* 

NEW HAVEN, Conn., November 6, 2025 -- Rallybio Corporation (Nasdaq: RLYB), a clinical-stage biotechnology company translating scientific advances into transformative therapies for patients with devastating rare diseases, today reported financial results for the third quarter ended September 30, 2025, and provided an update on recent company developments.

"In the third quarter, we continued to execute with discipline and focus, advancing our lead program, RLYB116, and achieving a key clinical milestone with the completion of dosing in Cohort 1 in our confirmatory PK/PD Phase 1 study," said Stephen Uden, M.D., Chief Executive Officer of Rallybio. "In parallel, we strengthened our balance sheet with non-dilutive capital received from the sale of our interest in REV102. With the second cohort of the RLYB116 study progressing, we remain on track to report data in the fourth quarter of 2025 and are increasingly confident in RLYB116's potential to be an effective therapeutic. Our internal and external market assessments further validate the importance of advancing this program, as we plan for the next stage in development and in RLYB116's potential to address serious unmet needs in complement-mediated diseases."

**<u>Recent Business Highlights and Upcoming Milestones:</u>**

***Corporate Updates***

• In the third quarter of 2025, Rallybio generated a total of $20 million pursuant to its agreement with Recursion Pharmaceuticals for the sale of its interest in REV102, an investigational ENPP1 inhibitor in development for the treatment of hypophosphatasia (HPP). The total included $7.5 million from an upfront payment and $12.5 million related to the initiation of additional preclinical studies.

***RLYB116 Program***

• In September 2025, Rallybio completed dosing of Cohort 1 in the RLYB116 Phase 1 confirmatory pharmacokinetic/pharmacodynamic (PK/PD) clinical trial, which is planned for development in two hematologic conditions with significant unmet need: immune platelet transfusion refractoriness (PTR) and refractory antiphospholipid syndrome (APS).The Phase 1 study is designed to demonstrate complete and sustained complement inhibition as well as favorable tolerability. Data from Cohort 1 support the advancement of RLYB116 as a differentiated therapeutic and enables progression to Cohort 2. Rallybio is on track to report data from the study in the fourth quarter of 2025.

***RLYB332 Program***

• Rallybio continues to evaluate plans for future development of RLYB332, a long-acting, monoclonal anti-matriptase-2 antibody with the potential to be a best-in-class treatment for diseases of iron overload. Preclinical data have demonstrated superior impact on PD parameters, including serum iron, unsaturated iron binding capacity, and transferrin saturation, relative to comparator molecules.

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**Third Quarter 2025 Financial Results** 

**• Revenue:** Revenue was $0.2 million for the third quarter of 2025, compared to $0.3 million for the same period in 2024. The decrease in revenue for the third quarter of 2025 was related to the collaboration agreement with Johnson & Johnson in the third quarter of 2024 and the recognition of revenue related to the collaboration's performance obligations.

• **Research & Development (R&D) Expenses:** R&D expenses were $4.1 million for the third quarter of 2025, compared to $8.2 million for the same period in 2024. The decrease in R&D expenses were primarily due to a decrease in development costs related to RLYB212 and other program candidates, in addition to a decrease in payroll and personnel-related expenses, largely related to the Company's workforce reduction announced in May 2025; offset by an increase in development costs related to RLYB116.

**• General & Administrative (G&A) Expenses:** G&A expenses were $3.0 million for the third quarter of 2025, compared to $4.1 million for the same period in 2024. The decrease in G&A expenses were primarily due to a decrease in payroll and personnel-related expenses, largely related to lower headcount as compared to the same period in 2024.

**• Net Loss and Net Loss Per Common Share:** Rallybio reported a net income of $16.0 million, or $0.36 per common share, for the third quarter of 2025 compared to a net loss of $11.5 million, or $0.26 per common share, for the same period in 2024.

• **Cash Position:** As of September 30, 2025, cash, cash equivalents, and marketable securities were $59.3 million. Rallybio expects that its cash, cash equivalents and marketable securities will be sufficient to support operations through 2027.

**About Rallybio**

Rallybio (NASDAQ: RLYB) is a clinical-stage biotechnology company with a mission to develop and commercialize life-transforming therapies for patients with severe and rare diseases. Rallybio has built a pipeline of promising product candidates aimed at addressing diseases with unmet medical need in areas of complement dysregulation and hematology. The Company's lead program, RLYB116, is a differentiated C5 inhibitor with the potential to treat diseases of complement dysregulation, with an initial focus on immune platelet transfusion refractoriness and refractory antiphospholipid syndrome. Rallybio's pipeline also includes RLYB332, a preclinical long-acting matriptase-2 antibody for the treatment of diseases of iron overload. Rallybio is headquartered in New Haven, Connecticut. For more information, please visit www.rallybio.com and follow us on LinkedIn.

**Forward-Looking Statements**

This press release contains forward-looking statements that are based on our management's beliefs and assumptions and currently available information. All statements, other than statements of historical facts contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements concerning the timing of dosing of Cohort 2 in the RLYB116 confirmatory PK/PD study and the periods in which data from the trial are expected to be available, whether the PK/PD confirmatory study will demonstrate improved tolerability and complete and sustained inhibition of terminal complement, whether RLYB116 will be effective in treating a broad range of complement-mediated diseases, the potential commercial opportunity for RLYB116, the potential for future development of RLYB332, the potential for RLYB332 to be a best-in-class treatment for diseases of iron overload, and the Company's cash runway. The forward-looking statements in this press release are only predictions and are based largely on management's current expectations and projections about future events and financial trends that management believes may affect Rallybio's business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our ability to successfully initiate and conduct our planned clinical trials, including the RLYB116 PK/PD confirmatory study, and

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complete such clinical trials and obtain results on our expected timelines, or at all, whether our cash resources will be sufficient to fund our operating expenses and capital expenditure requirements and whether we will be successful raising additional capital, our ability to enter into strategic partnerships or other arrangements, competition from other biotechnology and pharmaceutical companies, and those risks and uncertainties described in Rallybio's filings with the U.S. Securities and Exchange Commission (SEC), including Rallybio's Quarterly Report on Form 10-Q for the period ended June 30, 2025, and subsequent filings with the SEC. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Except as required by applicable law, we are not obligated to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.

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**Financial Tables**

**RALLYBIO CORPORATION**

**SELECTED CONDENSED CONSOLIDATED FINANCIAL INFORMATION**

**Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)**

**(Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **FOR THE THREE MONTHS ENDED <br>SEPTEMBER 30,** | **FOR THE THREE MONTHS ENDED <br>SEPTEMBER 30,** | **FOR THE NINE MONTHS ENDED <br>SEPTEMBER 30,** | **FOR THE NINE MONTHS ENDED <br>SEPTEMBER 30,** |
| **(in thousands, except share and per share amounts)** | **2025** | **2024** | **2025** | **2024** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Collaboration and license revenue | $212 | $299 | $636 | $598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 212 | 299 | 636 | 598 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 4143 | 8240 | 15942 | 34122 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 2994 | 4125 | 11346 | 15364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 7137 | 12365 | 27288 | 49486 |
| Loss from operations | (6925) | (12066) | (26652) | (48888) |
| Other income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 462 | 986 | 1629 | 3405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of joint venture and other income | 22479 | 251 | 22771 | 561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income, net | 22941 | 1237 | 24400 | 3966 |
| Gain (loss) before equity in losses of joint venture | 16016 | (10829) | (2252) | (44922) |
| Loss on investment in joint venture |  | 637 | 874 | 1809 |
| Net income (loss) | $16016 | $(11466) | $(3126) | $(46731) |
| Net income (loss) per common share, basic and diluted | $0.36 | $(0.26) | $(0.07) | $(1.08) |
| Weighted-average common shares outstanding, basic and diluted | 45058591 | 44593221 | 44892485 | 43170177 |
| Other comprehensive gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized gain (loss) on marketable securities | 7 | 240 | (44) | 154 |
| Other comprehensive gain (loss) | 7 | 240 | (44) | 154 |
| Comprehensive gain (loss) | $16023 | $(11226) | $(3170) | $(46577) |

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**Condensed Consolidated Balance Sheets**

**(Unaudited)**

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| | | |
|:---|:---|:---|
| **(in thousands)** | **SEPTEMBER 30,<br>2025** | **DECEMBER 31,<br>2024** |
| Cash, cash equivalents and marketable securities | $59319 | $65511 |
| Total assets | 67661 | 68108 |
| Total liabilities | 4627 | 6454 |
| Total stockholders' equity | 63034 | 61654 |

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**Investor Contacts**

Samantha Tracy

Rallybio Corporation

(475) 47-RALLY (Ext. 282)

investors@rallybio.com

Kevin Lui

Precision AQ

(212) 698-8691

Kevin.Lui@precisionaq.com

**Media Contact**

media@rallybio.com

<br>