Overview
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- TickerRLYB on Nasdaq1
- Industrybiotechnology industry1
- HeadquartersNew Haven1
- Websiterallybio.com
- Incorporated inDE4
- Business address234 Church Street, Suite 1020, New Haven, Ct 065104
- Filer category, Emerging growth company4
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Collaboration And License Revenue brought in 52% of the revenue Rallybio broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Collaboration And License Revenue | $636.0K | $858.0K |
| License | $600.0K | $800.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development100¢$19.6M
Out of $858.0K in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $858.0K | $636.0K |
| Research and development | $19.6M | $41.5M |
| General and administrative | $14.3M | $19.6M |
| Total operating expenses | $33.9M | $61.1M |
| Loss from operations | -$33.1M | -$60.5M |
| Interest income | $2.2M | $4.2M |
| Gain on sale of joint venture and other income | $22.8M | $744.0K |
| Total other income, net | $25.0M | $5.0M |
| Loss before equity in losses of joint venture | -$8.1M | -$55.5M |
| Loss on investment in joint venture | $874.0K | $2.2M |
| Net loss | -$9.0M | -$57.8M |
| Net loss per common share, basic (in dollars per share) | -$1.59 | -$10.61 |
| Net loss per common share, diluted (in dollars per share) | -$1.59 | -$10.61 |
| Weighted-average common shares outstanding, basic (in shares) | 5.6M shares | 5.4M shares |
| Weighted-average common shares outstanding, diluted (in shares) | 5.6M shares | 5.4M shares |
| Net unrealized (loss) gain on marketable securities | -$50.0K | $53.0K |
| Other comprehensive (loss) gain | -$50.0K | $53.0K |
| Comprehensive loss | -$9.0M | -$57.7M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2024-04-30 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $31.4M | $13.9M | ||
| Marketable securities | $23.4M | $51.6M | ||
| Prepaid expenses and other current assets | $6.5M | $2.3M | ||
| Total current assets | $61.3M | $67.8M | ||
| Property and equipment, net | $23.0K | $115.0K | ||
| Operating lease right-of-use assets | $175.0K | $152.0K | ||
| Other assets, noncurrent | $810.0K | $0 | ||
| Total assets | $62.3M | $68.1M | ||
| Accounts payable | $126.0K | $278.0K | ||
| Accrued expenses | $3.8M | $5.0M | ||
| Operating lease liabilities | $94.0K | $154.0K | ||
| Deferred revenue | $212.0K | $848.0K | ||
| Total current liabilities | $4.2M | $6.2M | ||
| Operating lease liabilities, noncurrent | $82.0K | $0 | ||
| Deferred revenue, noncurrent | $0 | $212.0K | ||
| Total liabilities | $4.3M | $6.5M | ||
| Common stock, $0.0001 par value per share; 200,000,000 shares authorized as of December 31, 2025 and 2024; and 5,283,321 and 5,188,743 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $4.0K | $4.0K | ||
| Preferred stock, $0.0001 par value per share; 50,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued or outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Additional paid-in capital | $359.9M | $354.6M | ||
| Accumulated other comprehensive gain | $18.0K | $68.0K | ||
| Accumulated deficit | -$302.0M | -$293.0M | ||
| Total stockholders' equity | $58.0M | $61.7M | $106.2M | |
| Total liabilities and stockholders' equity | $62.3M | $68.1M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares issued (in shares) | 5.3M shares | 5.2M shares | ||
| Common stock, shares outstanding (in shares) | 5.3M shares | 5.2M shares | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-04-30 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $31.4M | $13.9M | ||
| Marketable securities | $23.4M | $51.6M | ||
| Prepaid expenses and other current assets | $6.5M | $2.3M | ||
| Total current assets | $61.3M | $67.8M | ||
| Property and equipment, net | $23.0K | $115.0K | ||
| Operating lease right-of-use assets | $175.0K | $152.0K | ||
| Other assets, noncurrent | $810.0K | $0 | ||
| Total assets | $62.3M | $68.1M | ||
| Accounts payable | $126.0K | $278.0K | ||
| Accrued expenses | $3.8M | $5.0M | ||
| Operating lease liabilities | $94.0K | $154.0K | ||
| Deferred revenue | $212.0K | $848.0K | ||
| Total current liabilities | $4.2M | $6.2M | ||
| Operating lease liabilities, noncurrent | $82.0K | $0 | ||
| Deferred revenue, noncurrent | $0 | $212.0K | ||
| Total liabilities | $4.3M | $6.5M | ||
| Common stock, $0.0001 par value per share; 200,000,000 shares authorized as of December 31, 2025 and 2024; and 5,283,321 and 5,188,743 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $4.0K | $4.0K | ||
| Preferred stock, $0.0001 par value per share; 50,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued or outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Additional paid-in capital | $359.9M | $354.6M | ||
| Accumulated other comprehensive gain | $18.0K | $68.0K | ||
| Accumulated deficit | -$302.0M | -$293.0M | ||
| Total stockholders' equity | $58.0M | $61.7M | $106.2M | |
| Total liabilities and stockholders' equity | $62.3M | $68.1M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares issued (in shares) | 5.3M shares | 5.2M shares | ||
| Common stock, shares outstanding (in shares) | 5.3M shares | 5.2M shares | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$9.0M | -$57.8M |
| Depreciation and amortization | $92.0K | $131.0K |
| Net accretion of discounts/premiums on debt securities | -$573.0K | -$1.6M |
| Share-based compensation | $5.3M | $8.0M |
| Gain on sale of joint venture | -$22.4M | $0 |
| Loss on investment in joint venture | $874.0K | $2.2M |
| Prepaid expenses, operating right-of-use assets and other current assets | -$2.0M | $2.7M |
| Accounts payable | -$152.0K | -$698.0K |
| Accrued expenses and operating lease liabilities | -$1.1M | -$3.3M |
| Deferred revenue | -$848.0K | $1.1M |
| Net cash used in operating activities | -$29.8M | -$49.3M |
| Purchases of marketable securities | -$17.7M | -$48.9M |
| Proceeds from maturities of marketable securities | $46.5M | $84.4M |
| Proceeds from sale of common stock received from sale of joint venture | $20.0M | $0 |
| Investment in joint venture | -$1.5M | -$2.0M |
| Net cash provided by investing activities | $47.3M | $33.5M |
| Proceeds from the issuance of common stock from a securities purchase agreement | $0 | $5.4M |
| Proceeds from the issuance of common stock under the stock purchase plan | $16.0K | $62.0K |
| Payments of offering costs | $0 | -$268.0K |
| Net cash provided by financing activities | $16.0K | $5.2M |
| Net increase (decrease) in cash and cash equivalents | $17.5M | -$10.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Rallybio, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
2025
- Chief executive officerStephen Uden Feb 16, 2024 to Feb 19, 202512
- Chief executive officerMartin Mackay Jul 29, 2021 to Feb 6, 202313
- ChairMartin Mackay Feb 16, 2024 to Feb 16, 202414
- Chief financial officerJonathan I. Lieber Feb 16, 2024 to now15
- Chief financial officerJeffrey M. Fryer Feb 9, 2022 to Feb 9, 202216
Board members and other officers (14)
- OfficerJonathan I. Lieber Feb 1, 2023 to Mar 16, 202317
- OfficerJeffrey M. Fryer Jul 29, 2021 to Mar 23, 202218
- OfficerStephen Uden Jul 29, 2021 to Feb 6, 202319
- Chief Medical OfficerSteven Ryder Jul 29, 2021 to Feb 19, 202520
- Board memberStephen Uden Feb 16, 2024 to Feb 19, 202512
- Board memberChristine A. Nash Apr 6, 2022 to now21
- Board memberWendy Chung Aug 3, 2022 to now22
- Board memberHelen M. Boudreau Jul 29, 2021 to now23
- Board memberKush Parmar Jul 29, 2021 to May 17, 202424
- Board memberLucian Iancovici Jul 29, 2021 to Jul 29, 202125
- Board memberMartin Mackay Jul 29, 2021 to now13
- Board memberPaula Soteropoulos Jul 29, 2021 to now26
- Board memberRobert Lorne Hopfner Jul 29, 2021 to now27
- Board memberTimothy M. Shannon Jul 29, 2021 to Jan 5, 202228
Former names
- Rallybio Holdings, LLCMay 7, 2018 to Jun 7, 20214
Timeline
Filings
242 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 99 insider forms, 37 large holders, 1 private raises, 38 other. The latest 20:
- Oct 15, 2026424B3 EDGAR
- Oct 14, 2026S-4/A S-4/A NO. 4 EDGAR
- Oct 14, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 5, 2026S-4/A S-4/A NO. 3 EDGAR
- Oct 1, 20264 EDGAR
- Sep 28, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 16, 2026S-4/A S-4/A NO. 2 EDGAR
- Sep 9, 20268-K EDGAR
- Aug 26, 2026S-4/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 2026SCHEDULE 13G/A EDGAR
- Aug 4, 2026SCHEDULE 13G/A EDGAR
- Jul 15, 2026S-4 EDGAR
- Jul 10, 20264 EDGAR
The 242 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 37 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 6, 2026SCHEDULE 13G/A
- Aug 4, 2026SCHEDULE 13G/A
- Jun 5, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Apr 10, 2024Raised $6.6 million in a private offering of equity Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 37. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websiterallybio.com1
- X (Twitter)x.com/rallybio1
- LinkedInwww.linkedin.com/company/rallybio1
- WikidataQ125427741
- SEC EDGARCIK 1739410
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataRallybio on Wikidata
- 2SEC EDGARRallybio filings on SEC EDGAR
- 3Company websiteRallybio logo
- 4SEC EDGARRallybio filings on SEC EDGAR
- 5SEC EDGARRallybio 10-K for fiscal 2025
- 6SEC EDGARRallybio 10-K for fiscal 2020
- 7SEC EDGARRallybio 10-K for fiscal 2021
- 8SEC EDGARRallybio 10-K for fiscal 2022
- 9SEC EDGARRallybio 10-K for fiscal 2023
- 10SEC EDGARRallybio 10-Q for fiscal 2026
- 11SEC EDGARRallybio 10-Q for fiscal 2026
- 12
- 13
- 14SEC EDGARMartin Mackay, Chair
- 15
- 16
- 17SEC EDGARJonathan I. Lieber, Officer
- 18SEC EDGARJeffrey M. Fryer, Officer
- 19SEC EDGARStephen Uden, Officer
- 20SEC EDGARSteven Ryder, Chief Medical Officer
- 21SEC EDGARChristine A. Nash, Board member
- 22SEC EDGARWendy Chung, Board member
- 23SEC EDGARHelen M. Boudreau, Board member
- 24SEC EDGARKush Parmar, Board member
- 25SEC EDGARLucian Iancovici, Board member
- 26SEC EDGARPaula Soteropoulos, Board member
- 27SEC EDGARRobert Lorne Hopfner, Board member
- 28SEC EDGARTimothy M. Shannon, Board member
- 29gleifRallybio is founded