Bullish indicating open at $55-$60, IPO prices at $37
Rallybio Corporation (NASDAQ:RLYB), a pharmaceutical company based in New Haven, Connecticut, with a market capitalization of $13.32 million, held its annual meeting of shareholders on May 13, 2025. According to InvestingPro analysis, the company maintains a strong liquidity position with more cash than debt on its balance sheet. During the meeting, shareholders voted on key matters including the election of board directors and the ratification of the company’s independent registered public accounting firm.
Two nominees were elected to Rallybio’s Board of Directors as Class I directors for three-year terms expiring at the 2028 annual meeting of shareholders. The elected directors are Martin W. Mackay and Paula Soteropoulos. Martin W. Mackay received 23,833,701 votes for, 3,132,991 against, and there were 7,708,200 abstentions/broker non-votes. Paula Soteropoulos received 23,812,816 votes for, 3,153,701 against, and there were 7,708,375 abstentions/broker non-votes. The board appointments come as the company’s stock shows significant volatility, with InvestingPro data indicating a 9.25% return over the last week despite a 67.72% decline over the past six months.
Additionally, shareholders ratified the appointment of Deloitte and Touche LLP as Rallybio’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The decision was nearly unanimous, with 34,632,324 votes for, 40,810 against, and 1,758 abstentions/broker non-votes.
The results from the annual meeting were filed with the Securities and Exchange Commission (SEC) on May 16, 2025, in an 8-K filing. Rallybio, which operates under the ticker (NASDAQ:RLYB), is classified as an emerging growth company and is incorporated in the state of Delaware.
This report is based on a press release statement and contains the most pivotal information from the SEC filing, providing shareholders and the public with the outcomes of the recent shareholder meeting. For deeper insights into Rallybio’s financial health and future prospects, InvestingPro subscribers can access comprehensive analysis, including 12+ additional ProTips and detailed financial metrics in the Pro Research Report, one of 1,400+ available for US equities.
In other recent news, Rallybio Corporation has announced the termination of its RLYB212 program following disappointing results from a Phase 2 trial. The trial failed to meet the necessary pharmacokinetic concentrations for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT). This decision has led to a downgrade by Citizens JMP, which moved the stock rating from Market Outperform to Market Perform due to the lack of sufficient data for safe dosage adjustments. Similarly, Evercore ISI downgraded Rallybio’s stock from "Outperform" to "In Line," citing concerns over recent study data that did not meet anticipated targets. Despite these setbacks, Rallybio is shifting its focus to the development of RLYB116, a differentiated C5 inhibitor, with Phase 1 data expected in the latter half of 2025. Analysts from Citizens JMP have noted that while RLYB116 is not currently factored into their valuation, its potential utility is intriguing. Rallybio is also advancing its preclinical programs, including REV102 for hypophosphatasia and RLYB332 for iron overload diseases. The company’s strategic shift and upcoming data releases will be closely monitored by investors and analysts alike.
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