Rallybio Holdings, a leading clinical-stage biotechnology company, has announced a strategic decision to optimize its operations by reducing its workforce by 45%. This move will enable the company to concentrate its efforts on two key Phase 2-ready programs.
The primary focus will be on RLYB212, a promising development in the prevention of fetal and neonatal alloimmune thrombocytopenia. Additionally, Rallybio intends to prioritize RLYB116, which shows significant potential in addressing complement-mediated diseases among patients.
To ensure the progress of these programs, Rallybio plans to allocate resources towards preclinical program activities until specific milestones are reached by 2024. Beyond this timeframe, the company will explore alternative avenues, such as forging strategic partnerships and seeking non-dilutive financing options, to further advance these programs.
With approximately $109.9 million in cash, equivalents, and marketable securities at the end of 2023, Rallybio expects these changes to significantly extend its cash runway until mid-2026. This will provide ample opportunity for continued research and development.
At present, Rallybio has around 40 dedicated employees, who contribute their expertise to propel the company forward.