Rallybio Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $858,000 | $636,000 | — | — | — |
| Research and development | $19.6M | $41.5M | $53.5M | $40.7M | $26.9M |
| Operating expenses | $33.9M | $61.1M | $78.9M | $67.9M | $45.6M |
| Operating income | -$33.1M | -$60.5M | -$78.9M | -$67.9M | -$45.6M |
| Interest expense | — | — | — | $0 | $10,000 |
| Pretax income | -$8.1M | -$55.5M | -$72.5M | -$65.6M | -$45.5M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$9.0M | -$57.8M | -$74.6M | -$66.7M | -$47.0M |
| Balance Sheet | |||||
| Cash and equivalents | $31.4M | $13.9M | $24.5M | $57.0M | $175.3M |
| Current assets | $61.3M | $67.8M | $114.8M | $179.5M | $180.9M |
| Total assets | $62.3M | $68.1M | $115.6M | $180.4M | $182.2M |
| Current liabilities | $4.2M | $6.2M | $9.3M | $10.7M | $6.6M |
| Total liabilities | $4.3M | $6.5M | $9.4M | $11.1M | $6.6M |
| Stockholders' equity | $58.0M | $61.7M | $106.2M | $169.3M | $175.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$29.8M | -$49.3M | -$60.3M | -$57.3M | -$45.5M |
| Depreciation and amortization | $100,000 | $100,000 | $100,000 | $200,000 | $100,000 |
| Stock-based compensation | $5.3M | $8.0M | $10.9M | $9.5M | $3.6M |
| Capital expenditure | — | $0 | $12,000 | $54,000 | $333,000 |
| Free cash flow | — | -$49.3M | -$60.3M | -$57.3M | -$45.9M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 5.3M
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.