Rallybio published its annual report on Form 10-K for FY 2025, reporting a net loss of USD 8.98 million. Collaboration and license revenue rose 34.91% to USD 0.86 million. Research and development expenses fell 52.79% to USD 19.6 million, primarily due to lower RLYB212 costs after the program was discontinued in April 2025 and lower headcount. General and administrative expenses decreased 27% to USD 14.33 million, driven mainly by lower personnel-related expenses and reduced professional fees. Cash, cash equivalents and marketable securities totaled USD 54.7 million as of Dec. 31, 2025, and management said it expects this to fund operating expenses and capital expenditure requirements into 2028.

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